Allegion (ALLE) Scheduled to Post Earnings on Thursday

Allegion (NYSE:ALLE) is scheduled to be announcing 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.Investors that wish to register for the company’s conference call can do so using this link.

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

Allegion Price Performance

Shares of NYSE:ALLE opened at $125.78 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $11.01 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 4.57 and a beta of 1.14. The firm’s 50 day moving average price is $131.06 and its 200-day moving average price is $118.65. Allegion has a twelve month low of $95.94 and a twelve month high of $136.91.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.48 per share. 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 is currently 31.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays boosted 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. Mizuho cut Allegion from a “buy” rating to a “neutral” rating and upped their price target for the stock from $140.00 to $141.00 in a research report on Friday, February 23rd. Wells Fargo & Company downgraded Allegion from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $139.00 to $140.00 in a research note on Wednesday, February 21st. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Finally, UBS Group increased their target price on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $127.83.

Insider Activity at Allegion

In related news, CEO John H. Stone bought 10,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the completion of the acquisition, the chief executive officer now owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other Allegion news, SVP Robert C. Martens sold 5,391 shares of Allegion stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total value of $716,140.44. Following the sale, the senior vice president now owns 7,555 shares of the company’s stock, valued at approximately $1,003,606.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John H. Stone bought 10,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the completion of the transaction, the chief executive officer now directly owns 104,248 shares in the company, valued at approximately $13,803,477.68. The disclosure for this purchase can be found here. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allegion

Several large investors have recently bought and sold shares of the business. Compass Wealth Management LLC purchased a new position in shares of Allegion in the 4th quarter worth $25,000. Benjamin Edwards Inc. grew its position in Allegion by 123.1% in the second quarter. Benjamin Edwards Inc. now owns 261 shares of the scientific and technical instruments company’s stock worth $31,000 after acquiring an additional 144 shares in the last quarter. Quarry LP increased its stake in Allegion by 460.3% during the first quarter. Quarry LP now owns 734 shares of the scientific and technical instruments company’s stock worth $78,000 after acquiring an additional 603 shares during the last quarter. First Manhattan Co. raised its position in Allegion by 13.6% during the fourth quarter. First Manhattan Co. now owns 984 shares of the scientific and technical instruments company’s stock valued at $104,000 after purchasing an additional 118 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Allegion during the fourth quarter valued at approximately $116,000. Institutional investors own 92.21% of the company’s stock.

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.