Allison Transmission (NYSE:ALSN) Issues Earnings Results, Beats Estimates By $0.26 EPS

by · The Markets Daily

Allison Transmission (NYSE:ALSN – Get Free Report) issued its earnings results on Tuesday. The auto parts company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.26, Briefing.com reports. Allison Transmission had a return on equity of 53.66% and a net margin of 22.66%. The firm had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $790.08 million. During the same quarter last year, the firm earned $1.76 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Allison Transmission updated its FY 2024 guidance to EPS.

Allison Transmission Stock Up 0.4 %

NYSE:ALSN traded up $0.41 during mid-day trading on Friday, reaching $107.27. The stock had a trading volume of 34,920 shares, compared to its average volume of 618,681. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99. Allison Transmission has a 1-year low of $51.19 and a 1-year high of $109.30. The stock’s 50 day simple moving average is $94.57 and its two-hundred day simple moving average is $84.10. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.78 and a quick ratio of 2.19.

Allison Transmission Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Monday, August 19th. Allison Transmission’s payout ratio is 12.18%.

Insider Buying and Selling

In related news, VP Thomas Eifert sold 1,741 shares of Allison Transmission stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $100.00, for a total value of $174,100.00. Following the completion of the transaction, the vice president now directly owns 9,601 shares in the company, valued at approximately $960,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Allison Transmission news, SVP John Coll sold 2,000 shares of Allison Transmission stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $90.98, for a total value of $181,960.00. Following the completion of the transaction, the senior vice president now directly owns 12,420 shares in the company, valued at $1,129,971.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas Eifert sold 1,741 shares of Allison Transmission stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $100.00, for a total value of $174,100.00. Following the completion of the transaction, the vice president now owns 9,601 shares of the company’s stock, valued at approximately $960,100. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,741 shares of company stock worth $546,060. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Bank of America lifted their target price on Allison Transmission from $67.00 to $77.00 and gave the company an “underperform” rating in a report on Wednesday. Citigroup raised their price objective on Allison Transmission from $97.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Robert W. Baird raised their price objective on Allison Transmission from $103.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Oppenheimer raised their price objective on Allison Transmission from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Allison Transmission presently has a consensus rating of “Hold” and an average target price of $92.25.

Read Our Latest Research Report on ALSN

About Allison Transmission

(Get Free Report)

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.

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