Allegion (NYSE:ALLE) Posts Earnings Results, Beats Estimates By $0.18 EPS

Allegion (NYSE:ALLE) released its quarterly earnings data on Thursday. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18, Briefing.com reports. The firm 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%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.94 earnings per share. Allegion updated its FY 2024 guidance to 7.350-7.450 EPS and its FY24 guidance to $7.35-7.45 EPS.

Allegion Trading Down 1.4 %

ALLE stock traded down $2.04 during midday trading on Friday, reaching $143.23. 508,866 shares of the company traded hands, compared to its average volume of 706,846. Allegion has a 52-week low of $95.97 and a 52-week high of $156.10. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The business has a 50 day moving average of $142.11 and a 200-day moving average of $130.11. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 4.50 and a beta of 1.12.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.34%. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Robert W. Baird increased their price target on Allegion from $145.00 to $152.00 and gave the company 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. 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. 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, StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $144.20.

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.