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Allstate (ALL) Gains As Market Dips: What You Should Know
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Allstate (ALL - Free Report) ended the recent trading session at $258.48, demonstrating a +1.88% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.48%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 0.56%.
Prior to today's trading, shares of the insurer had lost 2.95% lagged the Finance sector's loss of 0.73% and the S&P 500's loss of 0.82%.
Market participants will be closely following the financial results of Allstate in its upcoming release. In that report, analysts expect Allstate to post earnings of $6.63 per share. This would mark a year-over-year decline of 40.64%. Our most recent consensus estimate is calling for quarterly revenue of $17.84 billion, up 4.92% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $35.5 per share and revenue of $71.25 billion, which would represent changes of +1.92% and +5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Allstate. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.8% higher. As of now, Allstate holds a Zacks Rank of #1 (Strong Buy).
Investors should also note Allstate's current valuation metrics, including its Forward P/E ratio of 7.15. This signifies a discount in comparison to the average Forward P/E of 11.39 for its industry.
We can also see that ALL currently has a PEG ratio of 0.57. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ALL's industry had an average PEG ratio of 1.73 as of yesterday's close.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 27% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Allstate (ALL) Gains As Market Dips: What You Should Know
Allstate (ALL - Free Report) ended the recent trading session at $258.48, demonstrating a +1.88% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.48%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 0.56%.
Prior to today's trading, shares of the insurer had lost 2.95% lagged the Finance sector's loss of 0.73% and the S&P 500's loss of 0.82%.
Market participants will be closely following the financial results of Allstate in its upcoming release. In that report, analysts expect Allstate to post earnings of $6.63 per share. This would mark a year-over-year decline of 40.64%. Our most recent consensus estimate is calling for quarterly revenue of $17.84 billion, up 4.92% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $35.5 per share and revenue of $71.25 billion, which would represent changes of +1.92% and +5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Allstate. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.8% higher. As of now, Allstate holds a Zacks Rank of #1 (Strong Buy).
Investors should also note Allstate's current valuation metrics, including its Forward P/E ratio of 7.15. This signifies a discount in comparison to the average Forward P/E of 11.39 for its industry.
We can also see that ALL currently has a PEG ratio of 0.57. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ALL's industry had an average PEG ratio of 1.73 as of yesterday's close.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 27% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.