In its upcoming report, Allegion (ALLE) is predicted by Wall Street analysts to post quarterly earnings of $2.01 per share, reflecting an increase of 8.1% compared to the same period last year. Revenues are forecasted to be $1.03 billion, representing a year-over-year increase of 8.9%.
The current level reflects a downward revision of 3.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Allegion metrics that are commonly monitored and projected by Wall Street analysts.
Analysts' assessment points toward 'Net Revenues- Allegion Americas' reaching $796.45 million. The estimate indicates a change of +6.2% from the prior-year quarter.
Based on the collective assessment of analysts, 'Net Revenues- Allegion International' should arrive at $232.85 million. The estimate indicates a year-over-year change of +19%.
Analysts predict that the 'Adjusted Operating Income- Allegion Americas' will reach $225.82 million. Compared to the current estimate, the company reported $205.10 million in the same quarter of the previous year.
The consensus estimate for 'Adjusted Operating Income- Allegion International' stands at $36.41 million. Compared to the present estimate, the company reported $30.90 million in the same quarter last year.
View all Key Company Metrics for Allegion here>>>
Allegion shares have witnessed a change of +10.7% in the past month, in contrast to the Zacks S&P 500 composite's -0.3% move. With a Zacks Rank #3 (Hold), ALLE is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Allegion PLC (ALLE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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