Allegion (NYSE:ALLE – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.35-7.45 for the period, compared to the consensus estimate of $7.25. The company issued revenue guidance of +2.5-3.5% to ~$3.74-$3.78 billion, compared to the consensus revenue estimate of $3.77 billion. Allegion also updated its FY 2024 guidance to 7.350-7.450 EPS.
Analysts Set New Price Targets
Several equities analysts have commented on ALLE shares. Wells Fargo & Company raised 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. Barclays raised their price objective on shares of Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research note on Wednesday, October 2nd. Mizuho upped their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Finally, Robert W. Baird upped their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $144.20.
Read Our Latest Analysis on Allegion
Allegion Trading Down 1.8 %
Allegion (NYSE:ALLE – Get Free Report) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business 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 firm posted $1.94 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Allegion will post 7.26 EPS for the current fiscal year.
Allegion Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a yield of 1.35%. Allegion’s payout ratio is presently 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.
See Also
- Five stocks we like better than Allegion
- How to Use Stock Screeners to Find Stocks
- Real Estate Sector Outperforms: 3 Stocks to Gain Exposure
- Investing in Commodities: What Are They? How to Invest in Them
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- What is the Hang Seng index?
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
Receive News & Ratings for Allegion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegion and related companies with MarketBeat.com's FREE daily email newsletter.