Allison Transmission (NYSE:ALSN) Releases Earnings Results, Beats Expectations By $0.02 EPS

Allison Transmission (NYSE:ALSN) announced its quarterly earnings results on Thursday. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02, Briefing.com reports. The firm had revenue of $789.00 million for the quarter, compared to the consensus estimate of $772.37 million. Allison Transmission had a net margin of 22.17% and a return on equity of 60.35%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.85 earnings per share. Allison Transmission updated its FY 2024 guidance to EPS.

Allison Transmission Price Performance

NYSE ALSN traded down $4.65 on Friday, reaching $75.61. 756,081 shares of the company’s stock traded hands, compared to its average volume of 667,750. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.49 and a quick ratio of 1.94. Allison Transmission has a 12 month low of $44.68 and a 12 month high of $83.42. The stock has a market cap of $6.62 billion, a PE ratio of 10.09, a P/E/G ratio of 1.48 and a beta of 1.03. The stock has a 50-day simple moving average of $77.75 and a 200 day simple moving average of $64.23.

Allison Transmission Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were given a dividend of $0.25 per share. This is a boost from Allison Transmission’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Friday, March 1st. Allison Transmission’s dividend payout ratio (DPR) is presently 13.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALSN shares. StockNews.com raised shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. Oppenheimer raised their target price on shares of Allison Transmission from $67.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. The Goldman Sachs Group raised their target price on shares of Allison Transmission from $55.00 to $63.00 and gave the company a “sell” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. raised their target price on shares of Allison Transmission from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Finally, Robert W. Baird raised their target price on shares of Allison Transmission from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $68.25.

Insider Transactions at Allison Transmission

In other news, CEO David S. Graziosi sold 76,318 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.57, for a total value of $5,385,761.26. Following the transaction, the chief executive officer now owns 125,479 shares in the company, valued at $8,855,053.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO David S. Graziosi sold 76,318 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.57, for a total value of $5,385,761.26. Following the transaction, the chief executive officer now owns 125,479 shares in the company, valued at $8,855,053.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dana Jh Pittard sold 2,686 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $72.84, for a total transaction of $195,648.24. Following the completion of the transaction, the vice president now owns 5,143 shares in the company, valued at approximately $374,616.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,843 shares of company stock worth $6,244,562. Insiders own 1.10% of the company’s stock.

Allison Transmission Company Profile

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.