Allison Transmission (NYSE:ALSN) Announces Earnings Results, Beats Estimates By $0.09 EPS

Allison Transmission (NYSE:ALSN) posted its earnings results on Thursday. The auto parts company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.09, Briefing.com reports. The company had revenue of $816.00 million during the quarter, compared to analyst estimates of $799.44 million. Allison Transmission had a return on equity of 54.59% and a net margin of 21.95%. Allison Transmission’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.92 earnings per share. Allison Transmission updated its FY 2024 guidance to EPS.

Allison Transmission Trading Up 4.0 %

Shares of Allison Transmission stock opened at $87.76 on Friday. Allison Transmission has a 12-month low of $50.13 and a 12-month high of $88.63. The firm’s 50 day simple moving average is $76.69 and its two-hundred day simple moving average is $73.81. The company has a current ratio of 2.51, a quick ratio of 1.95 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.61 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, May 17th. Allison Transmission’s dividend payout ratio is presently 13.35%.

Insider Transactions at Allison Transmission

In related news, VP Rafael Basso sold 12,624 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $74.48, for a total value of $940,235.52. Following the completion of the transaction, the vice president now owns 4,624 shares in the company, valued at approximately $344,395.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Rafael Basso sold 12,624 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $74.48, for a total value of $940,235.52. Following the sale, the vice president now owns 4,624 shares in the company, valued at $344,395.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 $1,082,365.20. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ALSN shares. Citigroup assumed coverage on Allison Transmission in a research note on Wednesday, June 26th. They set a “neutral” rating and a $80.00 price objective for the company. StockNews.com raised shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Allison Transmission from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. The Goldman Sachs Group boosted their price objective on shares of Allison Transmission from $55.00 to $63.00 and gave the stock a “sell” rating in a research note on Tuesday, April 16th. Finally, Raymond James initiated coverage on shares of Allison Transmission in a research note on Friday, June 28th. They issued an “outperform” rating and a $85.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allison Transmission presently has a consensus rating of “Hold” and a consensus price target of $75.63.

About Allison Transmission

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.