Allegion (NYSE:ALLE) Issues FY 2024 Earnings Guidance

Allegion (NYSE:ALLE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 7.150-7.300 for the period, compared to the consensus EPS estimate of 7.110. The company issued revenue guidance of $3.7 billion-$3.8 billion, compared to the consensus revenue estimate of $3.7 billion. Allegion also updated its FY24 guidance to $7.15-7.30 EPS.

Allegion Trading Up 4.5 %

Allegion stock traded up $5.79 during mid-day trading on Thursday, hitting $133.65. The company’s stock had a trading volume of 622,377 shares, compared to its average volume of 697,732. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.87. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 4.00 and a beta of 1.13. The business has a 50 day moving average price of $119.86 and a 200-day moving average price of $125.08. Allegion has a 12 month low of $95.94 and a 12 month high of $136.91.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The firm had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. During the same quarter in the previous year, the company earned $1.76 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts forecast that Allegion will post 7.09 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Allegion from $141.00 to $125.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. Barclays increased their price target on shares of Allegion from $112.00 to $117.00 and gave the stock an underweight rating in a research note on Thursday. StockNews.com downgraded shares of Allegion from a buy rating to a hold rating in a research note on Friday, July 19th. Finally, UBS Group increased their price target on shares of Allegion from $113.00 to $132.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $124.50.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the transaction, the senior vice president now owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

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.