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Allstate (ALL) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw Allstate (ALL - Free Report) ending at $192.64, denoting a -1.4% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.18%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq gained 0.27%.
Prior to today's trading, shares of the insurer had gained 2.29% over the past month. This has outpaced the Finance sector's loss of 3.02% and lagged the S&P 500's gain of 4.46% in that time.
Investors will be eagerly watching for the performance of Allstate in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 30, 2024. In that report, analysts expect Allstate to post earnings of $3.32 per share. This would mark year-over-year growth of 309.88%. At the same time, our most recent consensus estimate is projecting a revenue of $16.24 billion, reflecting a 11.37% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $15.37 per share and revenue of $63.73 billion, indicating changes of +1517.89% and +11.04%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Allstate. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection has moved 0.12% lower. Currently, Allstate is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Allstate is holding a Forward P/E ratio of 12.71. Its industry sports an average Forward P/E of 15.22, so one might conclude that Allstate is trading at a discount comparatively.
Also, we should mention that ALL has a PEG ratio of 1.82. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Insurance - Property and Casualty industry was having an average PEG ratio of 1.82.
The Insurance - Property and Casualty industry is part of the Finance sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Allstate (ALL) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Allstate (ALL - Free Report) ending at $192.64, denoting a -1.4% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.18%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq gained 0.27%.
Prior to today's trading, shares of the insurer had gained 2.29% over the past month. This has outpaced the Finance sector's loss of 3.02% and lagged the S&P 500's gain of 4.46% in that time.
Investors will be eagerly watching for the performance of Allstate in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 30, 2024. In that report, analysts expect Allstate to post earnings of $3.32 per share. This would mark year-over-year growth of 309.88%. At the same time, our most recent consensus estimate is projecting a revenue of $16.24 billion, reflecting a 11.37% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $15.37 per share and revenue of $63.73 billion, indicating changes of +1517.89% and +11.04%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Allstate. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection has moved 0.12% lower. Currently, Allstate is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Allstate is holding a Forward P/E ratio of 12.71. Its industry sports an average Forward P/E of 15.22, so one might conclude that Allstate is trading at a discount comparatively.
Also, we should mention that ALL has a PEG ratio of 1.82. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Insurance - Property and Casualty industry was having an average PEG ratio of 1.82.
The Insurance - Property and Casualty industry is part of the Finance sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.