In the latest trading session, Allstate (ALL) closed at $208.28, marking a +1.6% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.64%. On the other hand, the Dow registered a gain of 0.47%, and the technology-centric Nasdaq increased by 0.52%.
Shares of the insurer witnessed a loss of 4.35% over the previous month, trailing the performance of the Finance sector with its gain of 4.92%, and the S&P 500's gain of 3%.
The investment community will be paying close attention to the earnings performance of Allstate in its upcoming release. In that report, analysts expect Allstate to post earnings of $8.47 per share. This would mark year-over-year growth of 10.43%. 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 $28.58 per share and a revenue of $68.96 billion, representing changes of +56% and +7.19%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Allstate. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.06% higher. At present, Allstate boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Allstate is holding a Forward P/E ratio of 7.17. This signifies a discount in comparison to the average Forward P/E of 11.63 for its industry.
One should further note that ALL currently holds a PEG ratio of 0.38. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Insurance - Property and Casualty stocks are, on average, holding a PEG ratio of 1.64 based on yesterday's closing prices.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 33, positioning it in the top 14% of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The Allstate Corporation (ALL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
