Allegion (ALLE) Scheduled to Post Earnings on Thursday

Allegion (NYSE:ALLE) is set to announce its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $1.50 per share for the quarter. Allegion has set its FY 2024 guidance at 7.000-7.150 EPS and its FY24 guidance at $7.00-7.15 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The company had revenue of $897.40 million for the quarter, compared to analyst estimates of $904.17 million. During the same period in the prior year, the business earned $1.60 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts expect Allegion to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Allegion Stock Performance

Shares of ALLE stock opened at $125.78 on Thursday. The firm has a 50 day moving average of $131.06 and a two-hundred day moving average of $118.65. The stock has a market capitalization of $11.01 billion, a PE ratio of 20.55, a P/E/G ratio of 4.57 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. Allegion has a 52 week low of $95.94 and a 52 week high of $136.91.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.48 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 1.53%. Allegion’s dividend payout ratio (DPR) is presently 31.37%.

Insider Buying and Selling

In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now directly owns 35,567 shares in the company, valued at $4,623,354.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the completion of the sale, the vice president now directly owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John H. Stone acquired 10,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was bought at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the purchase, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The disclosure for this purchase can be found here. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC acquired a new stake in shares of Allegion in the second quarter valued at approximately $213,000. Cetera Advisors LLC acquired a new stake in Allegion during the 4th quarter worth $213,000. International Assets Investment Management LLC purchased a new position in Allegion during the 4th quarter worth $213,000. Atria Wealth Solutions Inc. purchased a new position in Allegion during the 1st quarter worth $209,000. Finally, Lombard Odier Asset Management USA Corp acquired a new position in Allegion in the fourth quarter valued at $208,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALLE. Wells Fargo & Company downgraded Allegion from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $139.00 to $140.00 in a report on Wednesday, February 21st. UBS Group upped their target price on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Barclays increased their price objective on shares of Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Mizuho lowered shares of Allegion from a “buy” rating to a “neutral” rating and raised their price objective for the company from $140.00 to $141.00 in a report on Friday, February 23rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $127.83.

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.