Allegion (NYSE:ALLE) Issues FY24 Earnings Guidance

Allegion (NYSE:ALLE) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.00-7.15 for the period, compared to the consensus estimate of $7.08. The company issued revenue guidance of +1.5-3.5% yr/yr to ~$3.704-3.778 billion, compared to the consensus revenue estimate of $3.74 billion. Allegion also updated its FY 2024 guidance to 7.000-7.150 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ALLE shares. Wells Fargo & Company lowered Allegion from an overweight rating to an equal weight rating and upped their target price for the stock from $139.00 to $140.00 in a report on Wednesday, February 21st. Barclays upped their price target on Allegion from $121.00 to $122.00 and gave the stock an equal weight rating in a research report on Tuesday, April 2nd. Mizuho downgraded Allegion from a buy rating to a neutral rating and upped their price target for the stock from $140.00 to $141.00 in a research report on Friday, February 23rd. StockNews.com raised Allegion from a hold rating to a buy rating in a research report on Wednesday, April 10th. Finally, UBS Group upped their target price on Allegion from $113.00 to $132.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $127.83.

Allegion Trading Down 0.3 %

ALLE stock opened at $126.54 on Thursday. The company’s 50-day simple moving average is $130.48 and its 200-day simple moving average is $119.49. 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 has a 52-week low of $95.94 and a 52-week high of $136.91. The firm has a market cap of $11.06 billion, a P/E ratio of 20.68, a PEG ratio of 4.57 and a beta of 1.14.

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

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.48 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 1.52%. Allegion’s payout ratio is 31.37%.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone purchased 10,000 shares of the business’s stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO John H. Stone purchased 10,000 shares of the business’s stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robert C. Martens sold 5,391 shares of Allegion stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total transaction of $716,140.44. Following the completion of the sale, the senior vice president now owns 7,555 shares of the company’s stock, valued at approximately $1,003,606.20. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

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.