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Allstate (ALL) Stock Sinks As Market Gains: Here's Why
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Allstate (ALL - Free Report) closed the most recent trading day at $242.86, moving -2.79% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.49% for the day. Elsewhere, the Dow saw an upswing of 0.71%, while the tech-heavy Nasdaq appreciated by 2.26%.
Prior to today's trading, shares of the insurer had lost 1.58% was narrower than the Finance sector's loss of 2.25% and lagged the S&P 500's gain of 0.1%.
The upcoming earnings release of Allstate will be of great interest to investors. The company is expected to report EPS of $6.6, down 40.91% from the prior-year quarter. 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 $35.48 per share and revenue of $71.25 billion, which would represent changes of +1.87% and +5%, respectively, from the prior year.
Investors should also take note of any recent adjustments 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. 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. The Zacks Consensus EPS estimate has moved 2.98% higher within the past month. Right now, Allstate possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Allstate currently has a Forward P/E ratio of 7.04. Its industry sports an average Forward P/E of 11.27, so one might conclude that Allstate is trading at a discount comparatively.
Investors should also note that ALL has a PEG ratio of 0.56 right now. 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. The average PEG ratio for the Insurance - Property and Casualty industry stood at 1.72 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Allstate (ALL) Stock Sinks As Market Gains: Here's Why
Allstate (ALL - Free Report) closed the most recent trading day at $242.86, moving -2.79% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.49% for the day. Elsewhere, the Dow saw an upswing of 0.71%, while the tech-heavy Nasdaq appreciated by 2.26%.
Prior to today's trading, shares of the insurer had lost 1.58% was narrower than the Finance sector's loss of 2.25% and lagged the S&P 500's gain of 0.1%.
The upcoming earnings release of Allstate will be of great interest to investors. The company is expected to report EPS of $6.6, down 40.91% from the prior-year quarter. 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 $35.48 per share and revenue of $71.25 billion, which would represent changes of +1.87% and +5%, respectively, from the prior year.
Investors should also take note of any recent adjustments 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. 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. The Zacks Consensus EPS estimate has moved 2.98% higher within the past month. Right now, Allstate possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Allstate currently has a Forward P/E ratio of 7.04. Its industry sports an average Forward P/E of 11.27, so one might conclude that Allstate is trading at a discount comparatively.
Investors should also note that ALL has a PEG ratio of 0.56 right now. 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. The average PEG ratio for the Insurance - Property and Casualty industry stood at 1.72 at the close of the market yesterday.
The Insurance - Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 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 follow all of these stock-moving metrics, and many more, on Zacks.com.