Allison Transmission (NYSE:ALSN) Issues Earnings Results, Beats Expectations By $0.26 EPS

Allison Transmission (NYSE:ALSN - Get Free Report) announced its quarterly earnings results on Tuesday. The auto parts company reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.26, Briefing.com reports. Allison Transmission had a net margin of 21.95% and a return on equity of 52.18%. The firm had revenue of $824.00 million during the quarter, compared to the consensus estimate of $790.08 million. During the same quarter last year, the firm earned $1.76 EPS. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. Allison Transmission updated its FY 2024 guidance to EPS.

Allison Transmission Stock Up 7.9 %

Shares of ALSN traded up $7.96 during mid-day trading on Wednesday, hitting $108.11. The company's stock had a trading volume of 1,607,650 shares, compared to its average volume of 620,584. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.78 and a beta of 0.99. The company's 50-day moving average is $93.79 and its 200-day moving average is $83.77. The company has a current ratio of 2.78, a quick ratio of 2.19 and a debt-to-equity ratio of 1.62. Allison Transmission has a 52-week low of $50.13 and a 52-week high of $109.30.

Allison Transmission Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Monday, August 19th. Allison Transmission's dividend payout ratio (DPR) is 13.35%.

Wall Street Analysts Forecast Growth

ALSN has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on Allison Transmission from $63.00 to $72.00 and gave the stock a "sell" rating in a research report on Monday, July 29th. Robert W. Baird lifted their price target on shares of Allison Transmission from $103.00 to $108.00 and gave the stock a "neutral" rating in a research note on Wednesday. StockNews.com raised shares of Allison Transmission from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 10th. Citigroup increased their price target on Allison Transmission from $97.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Finally, Oppenheimer boosted their price objective on Allison Transmission from $90.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $91.00.

Insider Transactions at Allison Transmission

In related news, VP Thomas Eifert sold 1,741 shares of the business's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $100.00, for a total transaction of $174,100.00. Following the completion of the transaction, the vice president now owns 9,601 shares in the company, valued at $960,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Allison Transmission news, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $90.98, for a total transaction of $181,960.00. Following the completion of the sale, the senior vice president now directly owns 12,420 shares in the company, valued at approximately $1,129,971.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas Eifert sold 1,741 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $100.00, for a total value of $174,100.00. Following the completion of the sale, the vice president now owns 9,601 shares in the company, valued at $960,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,741 shares of company stock valued at $546,060. Corporate insiders own 1.10% of the company's stock.

About Allison Transmission

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.