Allegion (NYSE:ALLE) Releases FY 2024 Earnings Guidance

Allegion (NYSE:ALLE) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 7.350-7.450 for the period, compared to the consensus estimate of 7.250. The company issued revenue guidance of $3.7 billion-$3.8 billion, compared to the consensus revenue estimate of $3.8 billion. Allegion also updated its FY24 guidance to $7.35-7.45 EPS.

Analyst Ratings Changes

A number of research firms have recently issued reports on ALLE. Mizuho boosted their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays boosted their price objective on Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $142.25.

Allegion Trading Down 3.7 %

Shares of ALLE traded down $5.59 during trading hours on Thursday, hitting $145.27. 1,861,188 shares of the stock traded hands, compared to its average volume of 707,943. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. Allegion has a 1-year low of $95.94 and a 1-year high of $156.10. The firm has a market capitalization of $12.70 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12. The business has a fifty day moving average of $142.11 and a 200-day moving average of $130.11.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. During the same quarter in the prior year, the firm posted $1.76 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts expect that Allegion will post 7.26 EPS for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s payout ratio is 31.32%.

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.