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Allegion (NYSE:ALLE) Issues Earnings Results

Allegion logo with Industrial Products background

Allegion (NYSE:ALLE - Get Free Report) released its earnings results on Thursday. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.18, Briefing.com reports. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the firm earned $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 Performance

ALLE stock traded down $2.67 during trading on Friday, hitting $142.60. The company had a trading volume of 1,155,969 shares, compared to its average volume of 710,108. Allegion has a 1-year low of $95.97 and a 1-year high of $156.10. The firm has a 50-day moving average price of $142.11 and a 200-day moving average price of $130.11. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The firm has a market cap of $12.47 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, September 20th. Allegion's dividend payout ratio is currently 31.32%.

Analyst Upgrades and Downgrades

ALLE has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Allegion from $117.00 to $135.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Allegion from a "hold" rating to a "buy" rating in a report on Saturday, July 27th. Wells Fargo & Company raised their target price on Allegion from $137.00 to $152.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Mizuho upped their price target on Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Finally, Robert W. Baird raised their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $144.20.

View Our Latest Report on ALLE

About Allegion

(Get Free Report)

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.

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Earnings History for Allegion (NYSE:ALLE)

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