Allegion (NYSE:ALLE) Releases FY24 Earnings Guidance

Allegion (NYSE:ALLE - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $7.35-7.45 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

ALLE has been the topic of several recent research reports. Mizuho increased their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Barclays lifted their price objective on shares of Allegion from $117.00 to $135.00 and gave the company an "underweight" rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their target price on Allegion from $137.00 to $152.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Finally, StockNews.com upgraded Allegion from a "hold" rating to a "buy" rating in a report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $142.25.

Allegion Stock Down 3.7 %

ALLE traded down $5.59 during trading on Thursday, hitting $145.27. The stock had a trading volume of 1,861,188 shares, compared to its average volume of 707,943. The stock has a 50 day simple moving average of $142.11 and a two-hundred day simple moving average of $130.11. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. Allegion has a twelve month low of $95.94 and a twelve month high of $156.10. The company has a market capitalization of $12.70 billion, a PE ratio of 23.70, a PEG ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. During the same period in the previous year, the company earned $1.76 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts predict that Allegion will post 7.26 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.32%. The ex-dividend date was Friday, September 20th. Allegion's payout ratio is 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.