Allegion (NYSE:ALLE) Issues FY 2024 Earnings Guidance

Allegion (NYSE:ALLE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 7.000-7.150 for the period, compared to the consensus EPS estimate of 7.070. The company issued revenue guidance of $3.7 billion-$3.8 billion, compared to the consensus revenue estimate of $3.7 billion. Allegion also updated its FY24 guidance to $7.00-7.15 EPS.

Analyst Ratings Changes

ALLE has been the topic of several recent analyst reports. StockNews.com raised shares of Allegion from a hold rating to a buy rating in a report on Wednesday, April 10th. Mizuho downgraded shares of Allegion from a buy rating to a neutral rating and lifted their price target for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Barclays upped their target price on Allegion from $121.00 to $122.00 and gave the company an equal weight rating in a research report on Tuesday, April 2nd. UBS Group boosted their price target on Allegion from $113.00 to $132.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company downgraded shares of Allegion from an overweight rating to an equal weight rating and upped their price target for the stock from $139.00 to $140.00 in a report on Wednesday, February 21st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $127.83.

Allegion Trading Down 1.3 %

ALLE traded down $1.70 during midday trading on Thursday, hitting $124.84. 931,973 shares of the company were exchanged, compared to its average volume of 715,848. The firm’s 50 day moving average price is $130.31 and its 200-day moving average price is $119.52. Allegion has a 1-year low of $95.94 and a 1-year high of $136.91. The firm has a market capitalization of $10.92 billion, a P/E ratio of 20.40, a P/E/G ratio of 4.57 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The firm had revenue of $897.40 million during the quarter, compared to analyst estimates of $904.17 million. During the same period last year, the company posted $1.60 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that Allegion will post 7.02 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s payout ratio is 31.37%.

Insider Activity

In other Allegion news, CEO John H. Stone acquired 10,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were purchased at an average cost of $132.41 per share, with a total value of $1,324,100.00. Following the completion of the purchase, the chief executive officer now owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO John H. Stone purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the acquisition, the chief executive officer now owns 104,248 shares of the company’s stock, valued at approximately $13,803,477.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert C. Martens sold 5,391 shares of Allegion stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total transaction of $716,140.44. Following the transaction, the senior vice president now directly owns 7,555 shares in the company, valued at $1,003,606.20. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

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.