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

Allegion (NYSE:ALLE) released its earnings results on Wednesday. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating the consensus estimate 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $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 Trading Up 3.9 %

Shares of ALLE stock opened at $132.88 on Friday. Allegion has a 12-month low of $95.94 and a 12-month high of $136.91. The company has a current ratio of 1.66, a quick ratio of 0.87 and a debt-to-equity ratio of 1.40. The stock’s 50-day moving average price is $120.01 and its 200-day moving average price is $125.14. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 3.94 and a beta of 1.13.

Insider Transactions at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the sale, the senior vice president now directly owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

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

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.