Allegion (NYSE:ALLE) Announces Quarterly Earnings Results

Allegion (NYSE:ALLE) released its quarterly earnings results on Thursday. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18, Briefing.com reports. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. During the same period in the previous year, the business posted $1.94 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Allegion updated its FY 2024 guidance to 7.350-7.450 EPS and its FY24 guidance to $7.35-7.45 EPS.

Allegion Stock Down 1.8 %

ALLE stock traded down $2.67 during trading on Friday, reaching $142.60. 1,155,969 shares of the stock were exchanged, 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. Allegion has a twelve month low of $95.97 and a twelve month high of $156.10. The firm’s 50 day moving average is $142.34 and its 200 day moving average is $130.18. The firm has a market cap of $12.47 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.35%. Allegion’s dividend payout ratio is presently 31.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Robert W. Baird raised their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday. Barclays raised their target price on Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 2nd. Mizuho increased their price target on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted 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 upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Allegion has an average rating of “Hold” and a consensus price target of $144.20.

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.