Allegion (NYSE:ALLE) Releases FY24 Earnings Guidance

Allegion (NYSE:ALLE) 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.

Allegion Trading Down 1.8 %

Shares of NYSE:ALLE opened at $142.60 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 4.50 and a beta of 1.12. Allegion has a 1-year low of $95.97 and a 1-year high of $156.10. The company has a 50 day moving average price of $142.34 and a 200 day moving average price of $130.15.

Allegion (NYSE:ALLE) 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.