Allegion (NYSE:ALLE) Issues Earnings Results

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.

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.