Allegion (NYSE:ALLE) Updates FY 2024 Earnings Guidance

Allegion (NYSE:ALLE) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Barclays increased their price target on shares of Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research report on Wednesday, October 2nd. Mizuho boosted their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company upped their target price on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $142.25.

Allegion Stock Up 0.2 %

Shares of Allegion stock opened at $150.86 on Thursday. The company has a market capitalization of $13.19 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. The business has a 50-day moving average of $141.86 and a two-hundred day moving average of $130.00. Allegion has a 1 year low of $95.94 and a 1 year high of $156.10.

Allegion (NYSE:ALLE) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $953.63 million. During the same period in the prior year, the business earned $1.76 EPS. Allegion’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Allegion will post 7.26 EPS for the current year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend 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.