Allstate Corp. Price Target Cut to $62.00 by Analysts at Credit Suisse (ALL)
Research analysts at Credit Suisse dropped their price target on shares of Allstate Corp. (NYSE:ALL) to $62.00 in a report released on Thursday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective would indicate a potential upside of 19.71% from the company’s current price.
Allstate Corp. (NYSE:ALL) traded up 3.29% during mid-day trading on Thursday, hitting $53.4925. The stock had a trading volume of 2,473,022 shares. Allstate Corp. has a 1-year low of $45.02 and a 1-year high of $54.84. The stock’s 50-day moving average is $52.38 and its 200-day moving average is $52.11. The company has a market cap of $24.018 billion and a price-to-earnings ratio of 10.77.
Allstate Corp. (NYSE:ALL) last released its earnings data on Thursday, February 6th. The company reported $1.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.37 by $0.33. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.55 million. During the same quarter last year, the company posted $0.59 earnings per share. Allstate Corp.’s revenue was up 2.9% compared to the same quarter last year. Analysts expect that Allstate Corp. will post $5.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.16%.
A number of other analysts have also recently weighed in on ALL. Analysts at Citigroup Inc. initiated coverage on shares of Allstate Corp. in a research note on Wednesday, February 12th. They set a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Allstate Corp. in a research note on Friday, February 7th. They now have a $55.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Allstate Corp. in a research note on Friday, December 13th. They now have a $55.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Allstate Corp. currently has a consensus rating of “Buy” and an average target price of $57.44.
The Allstate Corporation (NYSE:ALL) is a holding company for Allstate Insurance Company.
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