Equities Analysts Offer Predictions for Allegion plc’s Q1 2024 Earnings (NYSE:ALLE)


Allegion plc (NYSE:ALLEFree Report) – Equities researchers at Zacks Research decreased their Q1 2024 EPS estimates for shares of Allegion in a research report issued to clients and investors on Monday, April 15th. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will post earnings of $1.58 per share for the quarter, down from their previous estimate of $1.59. The consensus estimate for Allegion’s current full-year earnings is $7.01 per share. Zacks Research also issued estimates for Allegion’s Q2 2025 earnings at $1.76 EPS, Q3 2025 earnings at $1.86 EPS, Q4 2025 earnings at $1.79 EPS and FY2025 earnings at $7.02 EPS.

Allegion (NYSE:ALLEGet Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $897.40 million during the quarter, compared to the consensus estimate of $904.17 million. Allegion had a net margin of 14.80% and a return on equity of 51.95%. Allegion’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 earnings per share.

Other analysts have also issued reports about the stock. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. UBS Group raised their target price on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays upped their price target on Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company cut 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 report on Wednesday, February 21st. Finally, Mizuho lowered Allegion from a “buy” rating to a “neutral” rating and upped their target price for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Allegion currently has a consensus rating of “Hold” and an average price target of $127.83.

Check Out Our Latest Research Report on Allegion

Allegion Price Performance

Shares of ALLE stock opened at $125.78 on Wednesday. The stock’s 50-day moving average is $131.06 and its 200 day moving average is $118.65. Allegion has a 1-year low of $95.94 and a 1-year high of $136.91. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. The company has a market cap of $11.01 billion, a P/E ratio of 20.55, a PEG ratio of 4.57 and a beta of 1.14.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.92 annualized dividend and a yield of 1.53%. Allegion’s payout ratio is presently 31.37%.

Insider Activity

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

Hedge Funds Weigh In On Allegion

Large investors have recently made changes to their positions in the company. Compass Wealth Management LLC acquired a new stake in Allegion in the fourth quarter valued at approximately $25,000. CVA Family Office LLC acquired a new stake in Allegion in the 4th quarter valued at $28,000. Robeco Institutional Asset Management B.V. increased its holdings in Allegion by 19.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after acquiring an additional 3,823 shares in the last quarter. Benjamin Edwards Inc. raised its position in Allegion by 123.1% during 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 during the period. Finally, Ancora Advisors LLC lifted its holdings in Allegion by 153.3% during the third quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 230 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Allegion

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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.

See Also

Earnings History and Estimates for Allegion (NYSE:ALLE)



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