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Based in Dublin, Ireland, Allegion plc (ALLE) is a global leader in security solutions, renowned for manufacturing a wide range of products, including locks, door closers, exit devices, and electronic security solutions. With a market cap of $10.03 billion, Allegion is recognized for its innovation, engineering excellence, and commitment to safety and security. The company serves both residential and commercial clients, providing a diverse portfolio of products and services. Allegion is scheduled to announce its fiscal Q2 earnings results on Wednesday, Jul. 24.
Ahead of the event, analysts expect ALLE to report a profit of $1.76 per share, unchanged compared to the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $1.55 per share for the last quarter surpassed the consensus estimate by 9.9%. The company beat expectations due to cost controls despite a revenue decline caused by weaknesses in its residential and non-residential segments.
For fiscal 2024, analysts expect ALLE to report EPS of $7.09, up 1.9% from $6.96 in fiscal 2023.
ALLE stock is down 9.5% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 16.9% gains and the Industrial Select Sector SPDR Fund (XLI) 6.1% gains over the same time frame.
On May 29, Allegion launched the Schlage® XE360™ Series Wireless Locks, an advanced, aesthetically designed electronic lock solution for multifamily properties that supports modern mobile credentials and flexible access control integration.
The consensus opinion on ALLE stock is cautious, with an overall “Hold” rating. Out of nine analysts covering the stock, one advises a “Strong Buy” rating, six suggest a “Hold” rating, one suggests a “Moderate Sell,” and one advises a “Strong Sell.” ALLE's average analyst price target is $124.38, indicating a potential upside of 8.5% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
