Allegion (NYSE:ALLE) Releases FY24 Earnings Guidance

Allegion (NYSE:ALLE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $7.35-7.45 for the period, compared to the consensus earnings per share 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.

Allegion Trading Down 4.0 %

ALLE stock opened at $144.82 on Thursday. Allegion has a twelve month low of $95.94 and a twelve month high of $156.10. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The firm’s fifty day simple moving average is $141.86 and its two-hundred day simple moving average is $130.00.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. The company had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 EPS. As a group, analysts anticipate that Allegion will post 7.26 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.33%. Allegion’s dividend payout ratio is 31.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays boosted their price objective on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Mizuho boosted their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $142.25.

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.