In the latest market close, Allstate (ALL) reached $206.39, with a -0.2% movement compared to the previous day. This change was narrower than the S&P 500's daily loss of 0.53%. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.83%.
The insurer's stock has climbed by 1.33% in the past month, falling short of the Finance sector's gain of 3.08% and the S&P 500's gain of 5.17%.
The investment community will be paying close attention to the earnings performance of Allstate in its upcoming release. On that day, Allstate is projected to report earnings of $3.20 per share, which would represent year-over-year growth of 98.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.29 billion, up 9.29% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $18.20 per share and a revenue of $69.19 billion, representing changes of -0.66% and +7.55%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Allstate. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.07% higher. Currently, Allstate is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Allstate is presently being traded at a Forward P/E ratio of 11.36. This expresses a discount compared to the average Forward P/E of 11.98 of its industry.
We can also see that ALL currently has a PEG ratio of 1.08. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Insurance - Property and Casualty industry currently had an average PEG ratio of 2.75 as of yesterday's close.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 54, placing it within the top 22% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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