Zacks: Analysts Expect Allegion PLC (NYSE:ALLE) to Post $1.02 Earnings Per Share

Equities research analysts predict that Allegion PLC (NYSE:ALLE) will report earnings per share (EPS) of $1.02 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Allegion PLC’s earnings, with the lowest EPS estimate coming in at $1.01 and the highest estimate coming in at $1.03. Allegion PLC posted earnings per share of $0.93 during the same quarter last year, which suggests a positive year-over-year growth rate of 9.7%. The business is scheduled to announce its next earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Allegion PLC will report full year earnings of $3.76 per share for the current fiscal year, with EPS estimates ranging from $3.68 to $3.82. For the next year, analysts expect that the business will report earnings of $4.12 per share, with EPS estimates ranging from $4.05 to $4.26. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Allegion PLC.

Allegion PLC (NYSE:ALLE) last released its quarterly earnings data on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.11. The firm had revenue of $627 million for the quarter, compared to analyst estimates of $613.37 million. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share.

A number of brokerages have commented on ALLE. Zacks Investment Research upgraded shares of Allegion PLC from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Friday, June 30th. BidaskClub downgraded shares of Allegion PLC from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Credit Suisse Group restated a “buy” rating and set a $89.00 price objective on shares of Allegion PLC in a research report on Friday, April 28th. Imperial Capital upped their price objective on shares of Allegion PLC from $79.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Finally, Robert W. Baird downgraded shares of Allegion PLC from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $80.00 to $85.00 in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $86.00.

In other news, insider Timothy P. Eckersley sold 12,782 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $81.14, for a total transaction of $1,037,131.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Todd V. Graves sold 1,858 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $79.19, for a total transaction of $147,135.02. Following the transaction, the insider now directly owns 12,084 shares in the company, valued at $956,931.96. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Allegion PLC by 5,286.4% in the first quarter. BlackRock Inc. now owns 5,209,003 shares of the scientific and technical instruments company’s stock worth $394,319,000 after buying an additional 5,112,297 shares during the period. Egerton Capital UK LLP bought a new position in Allegion PLC during the second quarter worth $102,557,000. Artisan Partners Limited Partnership boosted its position in Allegion PLC by 223.4% in the first quarter. Artisan Partners Limited Partnership now owns 1,293,790 shares of the scientific and technical instruments company’s stock worth $97,940,000 after buying an additional 893,759 shares during the period. TIAA CREF Investment Management LLC boosted its position in Allegion PLC by 131.1% in the first quarter. TIAA CREF Investment Management LLC now owns 1,042,666 shares of the scientific and technical instruments company’s stock worth $78,930,000 after buying an additional 591,517 shares during the period. Finally, State Street Corp boosted its position in Allegion PLC by 11.9% in the first quarter. State Street Corp now owns 5,061,071 shares of the scientific and technical instruments company’s stock worth $383,121,000 after buying an additional 538,262 shares during the period. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Allegion PLC (ALLE) traded down 0.76% during mid-day trading on Tuesday, hitting $81.37. 468,618 shares of the stock were exchanged. Allegion PLC has a 52-week low of $61.47 and a 52-week high of $82.90. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 31.48 and a beta of 1.10. The company has a 50 day moving average price of $81.02 and a 200 day moving average price of $76.16.

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About Allegion PLC

Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.

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