Allegion (NYSE:ALLE) Updates FY24 Earnings Guidance

Allegion (NYSE:ALLE) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $7.00-7.15 for the period, compared to the consensus EPS estimate of $7.08. The company issued revenue guidance of +1.5-3.5% yr/yr to ~$3.704-3.778 billion, compared to the consensus revenue estimate of $3.74 billion. Allegion also updated its FY 2024 guidance to 7.000-7.150 EPS.

Wall Street Analyst Weigh In

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

Allegion Trading Down 0.3 %

Shares of ALLE stock opened at $126.54 on Thursday. Allegion has a 12-month low of $95.94 and a 12-month high of $136.91. The company has a market capitalization of $11.06 billion, a P/E ratio of 20.68, a P/E/G ratio of 4.57 and a beta of 1.14. The firm has a 50-day moving average price of $130.48 and a 200 day moving average price of $119.49. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The company had revenue of $897.40 million during the quarter, compared to the consensus estimate of $904.17 million. During the same period in the previous year, the firm posted $1.60 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. Research analysts forecast that Allegion will post 7.02 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s dividend payout ratio is presently 31.37%.

Insiders Place Their Bets

In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the completion of the transaction, the vice president now directly owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Allegion news, CEO John H. Stone purchased 10,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was bought at an average price of $132.41 per share, for a total transaction of $1,324,100.00. Following the transaction, the chief executive officer now directly owns 104,248 shares in the company, valued at $13,803,477.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Timothy P. Eckersley sold 5,047 shares of Allegion stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $129.99, for a total transaction of $656,059.53. Following the sale, the vice president now owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.