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The latest trading session saw Allstate (ALL) ending at $209.28, denoting a +0.56% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 1.12%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 2.04%.
Coming into today, shares of the insurer had gained 9.26% in the past month. In that same time, the Finance sector lost 0.06%, while the S&P 500 lost 2.91%.
The upcoming earnings release of Allstate will be of great interest to investors. The company's earnings per share (EPS) are projected to be $3.98, reflecting a 22.42% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $17.13 billion, reflecting a 11.04% rise from the equivalent quarter last year.
ALL's full-year Zacks Consensus Estimates are calling for earnings of $18.64 per share and revenue of $69.64 billion. These results would represent year-over-year changes of +1.75% and +8.26%, respectively.
It is also important to note the recent changes to analyst estimates for Allstate. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% lower. Allstate currently has a Zacks Rank of #3 (Hold).
Investors should also note Allstate's current valuation metrics, including its Forward P/E ratio of 11.16. For comparison, its industry has an average Forward P/E of 11.82, which means Allstate is trading at a discount to the group.
It is also worth noting that ALL currently has a PEG ratio of 1.14. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Insurance - Property and Casualty industry was having an average PEG ratio of 1.66.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 18% of all 250+ industries.