Allstate (ALL) closed the most recent trading day at $204.93, moving -1.98% from the previous trading session. This move lagged the S&P 500's daily gain of 0.79%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.38%.
Coming into today, shares of the insurer had lost 0.4% in the past month. In that same time, the Finance sector gained 4.09%, while the S&P 500 gained 0.87%.
The investment community will be paying close attention to the earnings performance of Allstate in its upcoming release. The company's upcoming EPS is projected at $8.05, signifying a 4.95% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $17.63 billion, indicating a 5.53% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $28.21 per share and a revenue of $68.95 billion, representing changes of +53.98% and +7.19%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Allstate. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.79% higher. Currently, Allstate is carrying a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Allstate is currently being traded at a Forward P/E ratio of 7.41. This indicates a discount in contrast to its industry's Forward P/E of 11.66.
Meanwhile, ALL's PEG ratio is currently 0.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Insurance - Property and Casualty stocks are, on average, holding a PEG ratio of 1.63 based on yesterday's closing prices.
The Insurance - Property and Casualty industry is part of the Finance sector. With its current Zacks Industry Rank of 27, this industry ranks in the top 11% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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The Allstate Corporation (ALL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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