Allegion (NYSE:ALLE) Posts Earnings Results, Beats Expectations By $0.12 EPS

Allegion (NYSE:ALLE) issued its quarterly earnings results on Wednesday. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12, Briefing.com reports. The business had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 earnings per share. Allegion updated its FY 2024 guidance to 7.150-7.300 EPS and its FY24 guidance to $7.15-7.30 EPS.

Allegion Stock Performance

Shares of Allegion stock traded up $3.26 during trading hours on Friday, hitting $136.14. 359,061 shares of the company’s stock traded hands, compared to its average volume of 700,186. The company has a fifty day simple moving average of $120.01 and a 200-day simple moving average of $125.14. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 0.87. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 3.94 and a beta of 1.13. Allegion has a 12-month low of $95.94 and a 12-month high of $136.91.

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total value of $267,624.12. Following the completion of the sale, the senior vice president now directly owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research note on Thursday. UBS Group boosted their price target on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Wells Fargo & Company raised their price objective on Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $126.50.

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.