Zacks: Analysts Expect The Allstate Co. (NYSE:ALL) Will Post Earnings of $1.89 Per Share

Equities research analysts expect that The Allstate Co. (NYSE:ALL) will announce $1.89 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for The Allstate’s earnings, with estimates ranging from $1.40 to $2.63. The Allstate reported earnings per share of $2.94 during the same quarter last year, which suggests a negative year over year growth rate of 35.7%. The company is scheduled to report its next earnings results after the market closes on Wednesday, November 3rd.

According to Zacks, analysts expect that The Allstate will report full year earnings of $15.29 per share for the current year, with EPS estimates ranging from $14.30 to $16.14. For the next year, analysts expect that the firm will post earnings of $12.65 per share, with EPS estimates ranging from $11.50 to $13.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for The Allstate.

The Allstate (NYSE:ALL) last announced its earnings results on Tuesday, August 3rd. The insurance provider reported $3.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.17 by $0.62. The Allstate had a net margin of 8.27% and a return on equity of 22.27%. The company had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same period in the prior year, the business earned $2.46 earnings per share. The Allstate’s quarterly revenue was up 13.2% on a year-over-year basis.

ALL has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of The Allstate from $140.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Monday, August 16th. Raymond James reissued a “buy” rating and set a $150.00 price target on shares of The Allstate in a research note on Friday, September 17th. Wolfe Research initiated coverage on shares of The Allstate in a research note on Monday, August 16th. They set a “peer perform” rating and a $130.00 price target for the company. UBS Group boosted their price target on shares of The Allstate from $118.00 to $139.00 and gave the stock a “neutral” rating in a research note on Friday, July 9th. Finally, Barclays boosted their price target on shares of The Allstate from $144.00 to $147.00 and gave the stock an “overweight” rating in a research note on Friday, August 6th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $140.62.

Shares of ALL stock traded up $0.92 during trading hours on Friday, reaching $126.62. 40,172 shares of the company were exchanged, compared to its average volume of 1,776,641. The Allstate has a fifty-two week low of $86.51 and a fifty-two week high of $140.00. The stock’s fifty day moving average is $131.92 and its two-hundred day moving average is $130.14. The company has a market cap of $37.44 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 1.09 and a beta of 0.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.45.

The Allstate announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 4th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the insurance provider to buy up to 13% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

A number of hedge funds have recently made changes to their positions in ALL. OLD Mission Capital LLC acquired a new stake in The Allstate in the third quarter valued at $5,666,000. Rockefeller Capital Management L.P. raised its position in shares of The Allstate by 52.5% in the first quarter. Rockefeller Capital Management L.P. now owns 14,996 shares of the insurance provider’s stock valued at $1,722,000 after purchasing an additional 5,161 shares during the period. Acadian Asset Management LLC raised its position in shares of The Allstate by 115.3% in the first quarter. Acadian Asset Management LLC now owns 67,083 shares of the insurance provider’s stock valued at $7,708,000 after purchasing an additional 35,931 shares during the period. Transcend Wealth Collective LLC raised its position in shares of The Allstate by 2.9% in the first quarter. Transcend Wealth Collective LLC now owns 5,173 shares of the insurance provider’s stock valued at $594,000 after purchasing an additional 147 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of The Allstate by 8.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 637,184 shares of the insurance provider’s stock valued at $71,622,000 after purchasing an additional 48,241 shares during the period. Hedge funds and other institutional investors own 75.00% of the company’s stock.

The Allstate Company Profile

The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other.

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Earnings History and Estimates for The Allstate (NYSE:ALL)

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