Yahoo Finance Allegion (ALLE) Reports Earnings Tomorrow: What To Expect
Security hardware provider Allegion (NYSE:ALLE) will be announcing earnings results tomorrow morning. Here's what to expect.
Allegion met analysts' revenue expectations last quarter, reporting revenues of $893.9 million, down 3.2% year on year. It was a solid quarter for the company, with a decent beat of analysts' organic revenue and earnings estimates.
Is Allegion a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Allegion's revenue to grow 4.7% year on year to $955.2 million, slowing from the 18% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.84 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Allegion has missed Wall Street's revenue estimates twice over the last two years.
Looking at Allegion's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Acuity Brands's revenues decreased 3.2% year on year, missing analysts' expectations by 2.9%, and Badger Meter reported revenues up 23.2%, topping estimates by 6.5%. Acuity Brands's stock price was unchanged after the resultswhile Badger Meter was up 3.7%.
Read our full analysis of Acuity Brands's results here and Badger Meter's results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 6.5% on average over the last month. Allegion is up 7% during the same time and is heading into earnings with an average analyst price target of $133.8 (compared to the current share price of $126.67).
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