Assa Abloy (OTCMKTS:ASAZY) Announces Quarterly Earnings Results

Assa Abloy (OTCMKTS:ASAZY) announced its quarterly earnings data on Friday. The industrial products company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21, Zacks reports. Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%.The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.09 billion.

Assa Abloy Stock Up 4.8%

Shares of Assa Abloy stock opened at $17.97 on Friday. Assa Abloy has a 1 year low of $16.34 and a 1 year high of $21.98. The firm has a market cap of $39.99 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.33 and a beta of 1.17. The company has a 50-day moving average of $17.65 and a 200 day moving average of $19.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 0.63.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada started coverage on shares of Assa Abloy in a research report on Tuesday, June 16th. They set an “outperform” rating for the company. Barclays reaffirmed an “overweight” rating on shares of Assa Abloy in a research report on Monday, June 15th. Evercore upgraded Assa Abloy to a “hold” rating in a report on Monday, April 13th. Pareto Securities raised Assa Abloy from a “hold” rating to a “buy” rating in a research report on Wednesday, April 8th. Finally, Dnb Carnegie upgraded Assa Abloy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Assa Abloy Company Profile

Assa Abloy is a global provider of door opening solutions, formed in 1994 through the merger of Swedish lock manufacturer ASSA and Finnish lock specialist Abloy. Building on a legacy that dates back to 1907, the company has grown into a diversified security technology group offering a broad portfolio of mechanical and electromechanical locks, access control systems, identification technology and entrance automation. Assa Abloy serves a wide range of end markets, including commercial buildings, residential dwellings, institutions, transportation hubs and hospitality venues.

The company’s product offerings encompass traditional mechanical locks and keys as well as advanced digital solutions such as mobile access credentials, smart door locks and cloud-based access management platforms.