Allegion (NYSE:ALLE) Announces Earnings Results, Beats Estimates By $0.12 EPS

Allegion (NYSE:ALLE) issued its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12, Briefing.com reports. The company had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 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 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.76 earnings per share. Allegion updated its FY 2024 guidance to 7.150-7.300 EPS and its FY24 guidance to $7.15-7.30 EPS.

Allegion Price Performance

Shares of Allegion stock traded up $3.26 on Friday, hitting $136.14. 359,061 shares of the company were exchanged, compared to its average volume of 700,186. Allegion has a 1-year low of $95.94 and a 1-year high of $136.91. The company has a quick ratio of 0.87, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 3.94 and a beta of 1.13. The company has a 50-day moving average price of $120.01 and a 200 day moving average price of $125.14.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ALLE shares. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. UBS Group boosted their target price on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Wells Fargo & Company raised their price target on shares of Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Barclays boosted their price objective on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, Allegion has a consensus rating of “Hold” and an average target price of $126.50.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 2,194 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the sale, the senior vice president now directly owns 11,103 shares in the company, valued at $1,354,343.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

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.