Allegion (NYSE:ALLE) Issues FY24 Earnings Guidance

Allegion (NYSE:ALLE) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $7.35-7.45 for the period, compared to the consensus EPS estimate of $7.25. The company issued revenue guidance of +2.5-3.5% to ~$3.74-$3.78 billion, compared to the consensus revenue estimate of $3.77 billion. Allegion also updated its FY 2024 guidance to 7.350-7.450 EPS.

Analyst Ratings Changes

A number of research firms have commented on ALLE. Barclays upped their price target on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research report on Wednesday, October 2nd. Mizuho upped their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird raised their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company boosted their price objective on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $144.20.

Allegion Stock Down 1.8 %

ALLE traded down $2.67 during trading on Friday, reaching $142.60. The stock had a trading volume of 1,155,969 shares, compared to its average volume of 710,108. 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 company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 4.50 and a beta of 1.12. The stock’s 50 day moving average is $142.11 and its two-hundred day moving average is $130.11. Allegion has a one year low of $95.97 and a one year high of $156.10.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. The company had revenue of $967.10 million during the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. Allegion’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $1.94 EPS. As a group, analysts expect that Allegion will post 7.26 earnings per share for the current year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

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.