Allegion (NYSE:ALLE) Issues FY 2024 Earnings Guidance

Allegion (NYSE:ALLE) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 7.000-7.150 for the period, compared to the consensus 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.

Allegion Stock Performance

ALLE stock opened at $123.85 on Friday. Allegion has a 1-year low of $95.94 and a 1-year high of $136.91. The business has a 50-day moving average price of $130.14 and a 200 day moving average price of $119.76. The company has a market capitalization of $10.83 billion, a P/E ratio of 20.20, a PEG ratio of 4.46 and a beta of 1.14. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.85.

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, topping the consensus estimate of $1.41 by $0.14. The firm had revenue of $893.90 million during the quarter, compared to analysts’ expectations of $888.27 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.58 EPS. As a group, equities research analysts forecast that Allegion will post 7.08 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s dividend payout ratio (DPR) is currently 31.32%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 5,391 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total transaction of $716,140.44. Following the sale, the senior vice president now owns 7,555 shares in the company, valued at $1,003,606.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Allegion news, CEO John H. Stone bought 10,000 shares of Allegion stock in a transaction dated 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 purchase, the chief executive officer now directly owns 104,248 shares in the company, valued at approximately $13,803,477.68. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, SVP Robert C. Martens sold 5,391 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total value of $716,140.44. Following the transaction, the senior vice president now owns 7,555 shares in the company, valued at approximately $1,003,606.20. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

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.