Allison Transmission (NYSE:ALSN) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Allison Transmission (NYSE:ALSN) announced its quarterly earnings data on Thursday. The auto parts company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.09, Briefing.com reports. The firm had revenue of $816.00 million for the quarter, compared to analyst estimates of $799.44 million. Allison Transmission had a net margin of 21.80% and a return on equity of 55.83%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 earnings per share. Allison Transmission updated its FY 2024 guidance to EPS.

Allison Transmission Trading Up 4.0 %

Shares of ALSN stock traded up $3.34 on Friday, hitting $87.75. 1,466,882 shares of the stock traded hands, compared to its average volume of 648,823. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.95 and a current ratio of 2.51. Allison Transmission has a twelve month low of $50.13 and a twelve month high of $88.63. The firm’s 50-day moving average price is $76.44 and its two-hundred day moving average price is $73.49. The stock has a market capitalization of $7.68 billion, a PE ratio of 11.74, a PEG ratio of 1.51 and a beta of 1.00.

Allison Transmission Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Friday, May 17th. Allison Transmission’s dividend payout ratio (DPR) is presently 13.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALSN. Robert W. Baird increased their price objective on Allison Transmission from $87.00 to $90.00 and gave the company a “neutral” rating in a report on Friday. Citigroup started coverage on shares of Allison Transmission in a report on Wednesday, June 26th. They issued a “neutral” rating and a $80.00 price target on the stock. StockNews.com upgraded Allison Transmission from a “buy” rating to a “strong-buy” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on Allison Transmission from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Finally, Raymond James started coverage on Allison Transmission in a research report on Friday, June 28th. They set an “outperform” rating and a $85.00 price target for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $75.63.

Insider Buying and Selling

In other news, VP Rafael Basso sold 12,624 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $74.48, for a total value of $940,235.52. Following the completion of the sale, the vice president now owns 4,624 shares of the company’s stock, valued at approximately $344,395.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Rafael Basso sold 12,624 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $74.48, for a total value of $940,235.52. Following the sale, the vice president now directly owns 4,624 shares in the company, valued at approximately $344,395.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Coll sold 2,000 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $75.06, for a total transaction of $150,120.00. Following the transaction, the senior vice president now directly owns 14,420 shares of the company’s stock, valued at approximately $1,082,365.20. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Allison Transmission Company Profile

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.