Allegion (NYSE:ALLE) Issues FY 2024 Earnings Guidance

Allegion (NYSE:ALLE) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 7.000-7.150 for the period, compared to the consensus EPS estimate of 7.070. The company issued revenue guidance of $3.7 billion-$3.8 billion, compared to the consensus revenue estimate of $3.7 billion. Allegion also updated its FY24 guidance to $7.00-7.15 EPS.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALLE shares. StockNews.com raised shares of Allegion from a hold rating to a buy rating in a report on Wednesday, April 10th. UBS Group increased their price objective on shares of Allegion from $113.00 to $132.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Wells Fargo & Company lowered shares of Allegion from an overweight rating to an equal weight rating and increased their price objective for the stock from $139.00 to $140.00 in a report on Wednesday, February 21st. Mizuho lowered shares of Allegion from a buy rating to a neutral rating and increased their price objective for the stock from $140.00 to $141.00 in a report on Friday, February 23rd. Finally, Barclays increased their price objective on shares of Allegion from $121.00 to $122.00 and gave the stock an equal weight rating in a report on Tuesday, April 2nd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $127.83.

Allegion Trading Down 0.8 %

Shares of NYSE ALLE traded down $1.02 during mid-day trading on Friday, hitting $123.85. The company’s stock had a trading volume of 975,466 shares, compared to its average volume of 719,053. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 4.55 and a beta of 1.14. The company’s fifty day simple moving average is $130.31 and its 200-day simple moving average is $119.52. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. Allegion has a one year low of $95.94 and a one year high of $136.91.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.14. The business had revenue of $893.90 million for the quarter, compared to the consensus estimate of $888.27 million. Allegion had a net margin of 14.80% and a return on equity of 51.95%. Allegion’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the company posted $1.58 EPS. On average, sell-side analysts anticipate that Allegion will post 7.02 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.92 annualized dividend and a yield of 1.55%. Allegion’s dividend payout ratio (DPR) is currently 31.37%.

Insiders Place Their Bets

In other Allegion news, CEO John H. Stone acquired 10,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were bought at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO John H. Stone bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average cost of $132.41 per share, with a total value of $1,324,100.00. Following the completion of the purchase, the chief executive officer now owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy P. Eckersley sold 5,047 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the completion of the transaction, the vice president now directly owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.