Assa Abloy (OTCMKTS:ASAZY) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Assa Abloy reported quarterly earnings of $0.20 EPS, missing estimates by $0.01, but exceeded revenue expectations with $4.05 billion compared to estimates of $3.95 billion.
• The company has a market capitalization of $42.63 billion and a PE ratio of 28.18, with shares trading around $19.16.
• Analysts have given Assa Abloy an average rating of "Hold," with Barclays upgrading the stock from a "strong sell" rating recently.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) posted its earnings results on Tuesday. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01), Zacks reports. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.95 billion. Assa Abloy had a return on equity of 14.16% and a net margin of 9.48%.

Assa Abloy Price Performance

Shares of ASAZY opened at $19.16 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.68 and a current ratio of 1.10. The stock has a 50 day simple moving average of $17.65 and a 200 day simple moving average of $16.31. Assa Abloy has a 52-week low of $12.76 and a 52-week high of $19.23. The firm has a market capitalization of $42.63 billion, a PE ratio of 28.18, a P/E/G ratio of 2.63 and a beta of 1.22.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays upgraded Assa Abloy from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 21st. Citigroup reiterated a "neutral" rating on shares of Assa Abloy in a research report on Thursday, September 25th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Assa Abloy currently has an average rating of "Hold".

Assa Abloy Company Profile

ASSA ABLOY AB (publ) provides door opening and access products, solutions, and services for the institutional, commercial, and residential markets in Europe, the Middle East, India, Africa, North and South America, Asia, and Oceania. The company provides digital access solutions, such as electronic access control ecosystem, wireless solutions, electronic key solutions, standalone access solutions, and wired solutions; swing, revolving, and sliding doors; mechanical products, including hinges, lever handles, mortise lockcases, euro profile cylinders, panic exit devices, door closers, floor spring, and general hardware; and doors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.