Q3 2022 EPS Estimates for Allegion plc (NYSE:ALLE) Lowered by Analyst

Allegion plc (NYSE:ALLE – Get Rating) – Equities research analysts at William Blair cut their Q3 2022 earnings per share estimates for shares of Allegion in a report released on Tuesday, April 26th. William Blair analyst R. Merkel now anticipates that the scientific and technical instruments company will earn $1.63 per share for the quarter, down from their prior forecast of $1.65. William Blair has a “Market Perform” rating on the stock.

Allegion (NYSE:ALLE – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The scientific and technical instruments company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Allegion had a net margin of 16.84% and a return on equity of 59.62%. The company had revenue of $723.60 million for the quarter, compared to analysts’ expectations of $709.67 million. During the same quarter in the previous year, the firm posted $1.20 EPS. Allegion’s revenue was up 4.2% on a year-over-year basis.

ALLE has been the topic of a number of other research reports. Mizuho lowered their target price on shares of Allegion from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. The Goldman Sachs Group decreased their price target on shares of Allegion from $153.00 to $137.00 and set a “buy” rating on the stock in a report on Thursday, April 7th. Credit Suisse Group decreased their price target on shares of Allegion from $142.00 to $134.00 and set a “neutral” rating on the stock in a report on Wednesday, February 16th. Wells Fargo & Company cut their target price on shares of Allegion from $157.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, February 16th. Finally, Morgan Stanley cut their target price on shares of Allegion from $134.00 to $130.00 and set an “equal weight” rating for the company in a research report on Thursday, April 7th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $142.40.

Shares of ALLE stock opened at $116.02 on Thursday. The company’s fifty day simple moving average is $112.73 and its two-hundred day simple moving average is $122.58. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.86 and a quick ratio of 1.23. Allegion has a 1 year low of $105.06 and a 1 year high of $148.70. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.21 and a beta of 1.13.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be issued a $0.41 dividend. The ex-dividend date is Wednesday, June 15th. This represents a $1.64 dividend on an annualized basis and a yield of 1.41%. Allegion’s dividend payout ratio is currently 30.71%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its holdings in Allegion by 54.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 263 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 93 shares during the last quarter. Ulland Investment Advisors LLC purchased a new position in shares of Allegion during the 4th quarter worth about $35,000. CWM LLC boosted its position in Allegion by 75.0% in the 1st quarter. CWM LLC now owns 294 shares of the scientific and technical instruments company’s stock valued at $32,000 after buying an additional 126 shares during the period. JFS Wealth Advisors LLC boosted its position in Allegion by 2,621.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 381 shares of the scientific and technical instruments company’s stock valued at $50,000 after buying an additional 367 shares during the period. Finally, Lindbrook Capital LLC boosted its position in Allegion by 270.2% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the scientific and technical instruments company’s stock valued at $51,000 after buying an additional 281 shares during the period. Institutional investors own 90.40% of the company’s stock.

About Allegion (Get Rating)

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door systems; and other accessories.

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