Allegion (NYSE:ALLE) Releases Earnings Results, Beats Expectations By $0.18 EPS

Allegion (NYSE:ALLE) issued its quarterly earnings results on Thursday. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18, Briefing.com reports. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. During the same period last year, the company earned $1.94 EPS. Allegion’s quarterly revenue was up 5.4% compared to the same quarter last year. Allegion updated its FY 2024 guidance to 7.350-7.450 EPS and its FY24 guidance to $7.35-7.45 EPS.

Allegion Stock Down 1.4 %

Shares of NYSE:ALLE traded down $2.04 on Friday, reaching $143.23. The company had a trading volume of 508,866 shares, 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 firm’s 50 day simple moving average is $142.11 and its 200-day simple moving average is $130.11. 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 firm has a market capitalization of $12.52 billion, a PE ratio of 23.58, a PEG ratio of 4.50 and a beta of 1.12.

Allegion Announces Dividend

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

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of research analyst reports. Mizuho raised their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their target price on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Robert W. Baird lifted their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Barclays lifted their target price on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research report 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $144.20.

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.