Allison Transmission (NYSE:ALSN) Releases Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Allison Transmission (NYSE:ALSN) announced its earnings results on Tuesday. The auto parts company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.01 by $0.26, Briefing.com reports. Allison Transmission had a return on equity of 52.18% and a net margin of 21.95%. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate of $790.08 million. During the same period in the prior year, the business posted $1.76 earnings per share. Allison Transmission’s revenue was up 12.0% compared to the same quarter last year. Allison Transmission updated its FY 2024 guidance to EPS.

Allison Transmission Stock Performance

Shares of ALSN stock opened at $108.11 on Thursday. 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 has a fifty-two week low of $50.13 and a fifty-two week high of $109.30. The stock’s 50-day moving average is $94.20 and its two-hundred day moving average is $83.94. The firm has a market cap of $9.46 billion, a P/E ratio of 14.43, a PEG ratio of 1.78 and a beta of 0.99.

Allison Transmission Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Monday, August 19th. Allison Transmission’s payout ratio is currently 13.35%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages have recently commented on ALSN. The Goldman Sachs Group upped their target price on Allison Transmission from $63.00 to $72.00 and gave the company a “sell” rating in a report on Monday, July 29th. Robert W. Baird upped their target price on Allison Transmission from $103.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on Allison Transmission from $80.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. StockNews.com raised Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Citigroup upped their price target on Allison Transmission from $97.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $91.00.

About Allison Transmission

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.