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

Assa Abloy (OTCMKTS:ASAZY) issued its earnings results on Wednesday. The industrial products company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01), Zacks reports. Assa Abloy had a net margin of 9.57% and a return on equity of 14.24%.

Assa Abloy Stock Performance

Shares of ASAZY stock traded up $0.36 during trading hours on Thursday, reaching $21.49. The company’s stock had a trading volume of 46,733 shares, compared to its average volume of 216,746. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.06 and a quick ratio of 0.66. The firm’s fifty day simple moving average is $19.56 and its 200 day simple moving average is $18.41. Assa Abloy has a one year low of $12.76 and a one year high of $21.49.

Wall Street Analysts Forecast Growth

ASAZY has been the subject of several analyst reports. Zacks Research upgraded shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Assa Abloy in a research report on Thursday, November 20th. Finally, Citigroup upgraded shares of Assa Abloy from a “neutral” rating to a “buy” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average 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.