Allegion (NYSE:ALLE) Updates FY 2024 Earnings Guidance

Allegion (NYSE:ALLE) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 7.350-7.450 for the period, compared to the consensus earnings per share estimate of 7.250. The company issued revenue guidance of $3.7 billion-$3.8 billion, compared to the consensus revenue estimate of $3.8 billion. Allegion also updated its FY24 guidance to $7.35-7.45 EPS.

Wall Street Analyst Weigh In

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

Allegion Stock Down 1.8 %

Shares of NYSE:ALLE opened at $142.60 on Friday. The firm has a market cap of $12.47 billion, a P/E ratio of 23.26, a P/E/G 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. Allegion has a 12-month low of $95.97 and a 12-month high of $156.10. The business has a fifty day simple moving average of $142.34 and a 200 day simple moving average of $130.15.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.18. The business had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. Allegion’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.94 EPS. Analysts predict that Allegion will post 7.26 earnings per share for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, September 20th. Allegion’s dividend payout ratio is currently 31.32%.

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.