Allstate (ALL) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Allstate (ALL) closed at $109.59, marking a -1.04% move from the previous day. This change lagged the S&P 500's 0.29% gain on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 0.44%.
Prior to today's trading, shares of the insurer had gained 0.55% over the past month. This has outpaced the Finance sector's gain of 0.44% and lagged the S&P 500's gain of 1.51% in that time.
Wall Street will be looking for positivity from ALL as it approaches its next earnings report date. In that report, analysts expect ALL to post earnings of $2.73 per share. This would mark year-over-year growth of 120.16%. Meanwhile, our latest consensus estimate is calling for revenue of $9.22 billion, down 11.18% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10 per share and revenue of $36.40 billion, which would represent changes of +23.92% and -10.56%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ALL. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.21% higher. ALL is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that ALL has a Forward P/E ratio of 11.08 right now. This represents a discount compared to its industry's average Forward P/E of 14.98.
Investors should also note that ALL has a PEG ratio of 1.33 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Insurance - Property and Casualty stocks are, on average, holding a PEG ratio of 1.78 based on yesterday's closing prices.
The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 171, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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