Allegion Issues Q1 Earnings Results, Beats Expectations by 4 Cents
The company had revenue of $458.7 million for the quarter, compared to the consensus estimate of $454.3 million.
Allegion reported revenue of $458.7 million for the first quarter 2015, compared to the consensus estimate of $454.3 million.
CARMEL, Ind. – Allegion (NASDAQ:ALLE) reported 51 cents earnings per share (EPS) for the first quarter, beating the consensus estimate of 47 cents by 4 cents, AnalystRatings. net reported. The company had revenue of $458.7 million for the quarter, compared to the consensus estimate of $454.3 million.
During the same quarter in the previous year, the company posted 44 cents EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Allegion PLC updated its FY15 guidance to $2.65-2.75 EPS.
RELATED: Eckersley Eager to Help Allegion Achieve Higher Earnings
Analysts at Zacks downgraded shares of Allegion from an “outperform” rating to a “neutral” rating and set a $61 price target on the stock in a research note on March 6. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $61.40.
Allegion traded up 1.50% on Thursday (April 30), hitting $61.46. The company has a one-year low of $43.81 and a one-year high of $62.54. The stock has a 50-day moving average of $60 and a 200-day moving average of $55.
Allegion offers a portfolio of mechanical and electronic security products across a range of brands.
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