Research Analysts Issue Forecasts for Allegion plc’s Q2 2023 Earnings (NYSE:ALLE)

Allegion plc (NYSE:ALLE – Get Rating) – Equities researchers at Zacks Research boosted their Q2 2023 earnings estimates for shares of Allegion in a report issued on Tuesday, May 9th. Zacks Research analyst E. Haque now forecasts that the scientific and technical instruments company will earn $1.66 per share for the quarter, up from their prior forecast of $1.65. The consensus estimate for Allegion’s current full-year earnings is $6.63 per share. Zacks Research also issued estimates for Allegion’s Q3 2023 earnings at $1.78 EPS, Q4 2023 earnings at $1.56 EPS, FY2023 earnings at $6.58 EPS, Q2 2024 earnings at $1.74 EPS, Q3 2024 earnings at $1.83 EPS, Q4 2024 earnings at $1.66 EPS, FY2024 earnings at $6.70 EPS, Q1 2025 earnings at $1.68 EPS and FY2025 earnings at $7.76 EPS.

Allegion (NYSE:ALLE – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The scientific and technical instruments company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.23. The company had revenue of $923.00 million for the quarter, compared to the consensus estimate of $846.29 million. Allegion had a net margin of 14.07% and a return on equity of 61.34%. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS.

Several other brokerages also recently weighed in on ALLE. Wells Fargo & Company lowered their target price on shares of Allegion from $130.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, April 13th. Mizuho boosted their price objective on shares of Allegion from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Barclays decreased their target price on shares of Allegion from $129.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 6th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. Finally, Robert W. Baird dropped their target price on shares of Allegion from $130.00 to $126.00 in a report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $120.22.

Allegion Trading Up 0.5 %

NYSE ALLE opened at $108.87 on Thursday. Allegion has a 12 month low of $87.33 and a 12 month high of $123.46. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.87 and a quick ratio of 1.17. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The firm’s fifty day moving average price is $105.81 and its 200 day moving average price is $109.29.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, June 14th. Allegion’s dividend payout ratio (DPR) is currently 32.55%.

Insider Transactions at Allegion

In related news, SVP Jeffrey N. Braun sold 2,278 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $110.34, for a total transaction of $251,354.52. Following the completion of the sale, the senior vice president now directly owns 11,336 shares in the company, valued at $1,250,814.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Allegion

Institutional investors have recently added to or reduced their stakes in the business. Compass Wealth Management LLC acquired a new stake in shares of Allegion in the fourth quarter worth $25,000. U.S. Capital Wealth Advisors LLC acquired a new position in Allegion during the 4th quarter valued at $26,000. Ameritas Advisory Services LLC bought a new stake in Allegion in the 1st quarter valued at $27,000. Parkside Financial Bank & Trust increased its holdings in Allegion by 172.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 322 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 204 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in shares of Allegion by 55.0% in the 4th quarter. First Horizon Advisors Inc. now owns 296 shares of the scientific and technical instruments company’s stock worth $31,000 after purchasing an additional 105 shares during the last quarter. 92.78% of the stock is currently owned by institutional investors and hedge funds.

About Allegion

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Allegion Plc engages in the provision of security products and solutions that keep people safe, secure, and productive. It operates through the Allegion Americas and Allegion International segments. Its brands include CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin. The company was founded on May 9, 2013 and is headquartered in Dublin, Ireland.