Zacks Research Brokers Lift Earnings Estimates for Allegion plc (NYSE:ALLE)
Allegion plc (NYSE:ALLE – Get Rating) – Stock analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for shares of Allegion in a report issued on Tuesday, June 6th. Zacks Research analyst E. Haque now forecasts that the scientific and technical instruments company will post earnings per share of $1.86 for the quarter, up from their prior forecast of $1.83. The consensus estimate for Allegion’s current full-year earnings is $6.62 per share.
Allegion (NYSE:ALLE – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.23. The company had revenue of $923.00 million for the quarter, compared to analysts’ expectations of $846.29 million. Allegion had a net margin of 14.07% and a return on equity of 61.34%. Allegion’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS.
A number of other brokerages have also commented on ALLE. StockNews.com initiated coverage on shares of Allegion in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Robert W. Baird decreased their target price on shares of Allegion from $130.00 to $126.00 in a research note on Thursday, April 27th. Morgan Stanley boosted their target price on shares of Allegion from $108.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, February 23rd. The Goldman Sachs Group decreased their target price on shares of Allegion from $138.00 to $119.00 and set a “buy” rating for the company in a research note on Friday, April 14th. Finally, Mizuho boosted their target price on shares of Allegion from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $120.22.
Allegion Price Performance
Shares of ALLE opened at $113.11 on Friday. Allegion has a twelve month low of $87.33 and a twelve month high of $123.46. The company has a market capitalization of $9.95 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. The firm has a 50 day moving average of $106.21 and a 200 day moving average of $109.59. The company has a quick ratio of 1.17, a current ratio of 1.87 and a debt-to-equity ratio of 2.02.
Institutional Trading of Allegion
Hedge funds have recently bought and sold shares of the stock. Compass Wealth Management LLC purchased a new stake in Allegion in the 4th quarter worth $25,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Allegion during the 4th quarter valued at about $26,000. Ameritas Advisory Services LLC purchased a new stake in shares of Allegion during the 1st quarter valued at about $27,000. First Horizon Advisors Inc. raised its position in shares of Allegion by 55.0% during the 4th quarter. First Horizon Advisors Inc. now owns 296 shares of the scientific and technical instruments company’s stock valued at $31,000 after buying an additional 105 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Allegion by 134.1% during the 1st quarter. Signaturefd LLC now owns 309 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.
Insider Buying and Selling
In related news, SVP Jeffrey N. Braun sold 2,278 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $110.34, for a total value of $251,354.52. Following the completion of the transaction, the senior vice president now owns 11,336 shares of the company’s stock, valued at approximately $1,250,814.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by insiders.
Allegion Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, June 14th. Allegion’s dividend payout ratio is currently 32.55%.
About Allegion
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.
Further Reading
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