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Allstate (ALL) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest trading session, Allstate (ALL - Free Report) closed at $204.71, marking a -1.25% move from the previous day. This change lagged the S&P 500's 0.54% gain on the day. Meanwhile, the Dow experienced a rise of 0.66%, and the technology-dominated Nasdaq saw an increase of 0.77%.
Shares of the insurer witnessed a loss of 1.2% over the previous month, beating the performance of the Finance sector with its loss of 5.77%, and the S&P 500's loss of 4.71%.
Investors will be eagerly watching for the performance of Allstate in its upcoming earnings disclosure. On that day, Allstate is projected to report earnings of $7.7 per share, which would represent year-over-year growth of 118.13%. Simultaneously, our latest consensus estimate expects the revenue to be $17.72 billion, showing a 5.47% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $26.01 per share and a revenue of $72.87 billion, representing changes of -25.32% and +7.4%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Allstate. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.76% increase. Allstate is currently sporting a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Allstate is currently exchanging hands at a Forward P/E ratio of 7.97. This valuation marks a discount compared to its industry average Forward P/E of 10.17.
It is also worth noting that ALL currently has a PEG ratio of 0.42. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Insurance - Property and Casualty industry held an average PEG ratio of 1.87.
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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Allstate (ALL) Stock Drops Despite Market Gains: Important Facts to Note
In the latest trading session, Allstate (ALL - Free Report) closed at $204.71, marking a -1.25% move from the previous day. This change lagged the S&P 500's 0.54% gain on the day. Meanwhile, the Dow experienced a rise of 0.66%, and the technology-dominated Nasdaq saw an increase of 0.77%.
Shares of the insurer witnessed a loss of 1.2% over the previous month, beating the performance of the Finance sector with its loss of 5.77%, and the S&P 500's loss of 4.71%.
Investors will be eagerly watching for the performance of Allstate in its upcoming earnings disclosure. On that day, Allstate is projected to report earnings of $7.7 per share, which would represent year-over-year growth of 118.13%. Simultaneously, our latest consensus estimate expects the revenue to be $17.72 billion, showing a 5.47% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $26.01 per share and a revenue of $72.87 billion, representing changes of -25.32% and +7.4%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Allstate. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.76% increase. Allstate is currently sporting a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Allstate is currently exchanging hands at a Forward P/E ratio of 7.97. This valuation marks a discount compared to its industry average Forward P/E of 10.17.
It is also worth noting that ALL currently has a PEG ratio of 0.42. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Insurance - Property and Casualty industry held an average PEG ratio of 1.87.
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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.