Allegion (NYSE:ALLE) Issues FY24 Earnings Guidance

Allegion (NYSE:ALLE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $7.35-7.45 for the period, compared to the consensus estimate of $7.25. The company issued revenue guidance of +2.5-3.5% to ~$3.74-$3.78 billion, compared to the consensus revenue estimate of $3.77 billion. Allegion also updated its FY 2024 guidance to 7.350-7.450 EPS.

Analysts Set New Price Targets

ALLE has been the topic of several research reports. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Mizuho raised their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird upped their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday. Wells Fargo & Company raised their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Barclays upped their price target on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $144.20.

Allegion Price Performance

Shares of ALLE traded down $2.67 during trading hours on Friday, reaching $142.60. 1,155,969 shares of the company’s stock traded hands, compared to its average volume of 710,108. Allegion has a 12 month low of $95.97 and a 12 month high of $156.10. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. The stock has a market cap of $12.47 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12. The firm’s 50 day simple moving average is $142.11 and its 200-day simple moving average is $130.11.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. During the same quarter last year, the company posted $1.94 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts expect that Allegion will post 7.26 EPS for the current year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, September 20th. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

Allegion Company Profile

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.