Allstate (ALL) closed the most recent trading day at $195.67, moving -1.27% from the previous trading session. This change lagged the S&P 500's 0.03% loss on the day. Meanwhile, the Dow experienced a drop of 0.11%, and the technology-dominated Nasdaq saw an increase of 0.13%.
Coming into today, shares of the insurer had lost 4.77% in the past month. In that same time, the Finance sector lost 1.73%, while the S&P 500 gained 0.6%.
The investment community will be paying close attention to the earnings performance of Allstate in its upcoming release. The company is forecasted to report an EPS of $3.2, showcasing a 98.76% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $17.29 billion, reflecting a 9.29% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $18.2 per share and revenue of $69.19 billion, which would represent changes of -0.66% and +7.55%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Allstate. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate has shifted 1.69% upward. At present, Allstate boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Allstate is currently being traded at a Forward P/E ratio of 10.89. This signifies a discount in comparison to the average Forward P/E of 11.55 for its industry.
Meanwhile, ALL's PEG ratio is currently 1.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Insurance - Property and Casualty was holding an average PEG ratio of 2.71 at yesterday's closing price.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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