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

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

Allison Transmission Stock Performance

Shares of NYSE:ALSN traded up $8.88 during trading hours on Wednesday, hitting $109.03. The stock had a trading volume of 459,943 shares, compared to its average volume of 614,884. The stock’s fifty day simple moving average is $93.79 and its 200 day simple moving average is $83.77. Allison Transmission has a 1-year low of $50.13 and a 1-year high of $109.13. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.78 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.19 and a current ratio of 2.78.

Allison Transmission Announces Dividend

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

Insider Buying and Selling at Allison Transmission

In related news, SVP John Coll sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were 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 in the company, valued at $1,129,971.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Allison Transmission news, 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 transaction, the vice president now owns 9,601 shares in the company, valued at approximately $960,100. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $181,960.00. Following the completion of the transaction, the senior vice president now owns 12,420 shares in the company, valued at approximately $1,129,971.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,741 shares of company stock worth $546,060. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ALSN has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Allison Transmission from $97.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Robert W. Baird upped their price objective on shares of Allison Transmission from $103.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com raised shares of Allison Transmission from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Oppenheimer upped their price objective on shares of Allison Transmission from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Allison Transmission from $80.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.00.

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.