The Allstate Receives BBB Credit Rating from Morningstar (ALL)
The Allstate (NYSE:ALL) has earned a “BBB” credit rating from analysts at Morningstar. The agency’s “BBB” rating suggests that the company is a moderate default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
ALL has been the subject of a number of other recent research reports. Analysts at Compass Point initiated coverage on shares of The Allstate in a research note on Thursday. They set a “neutral” rating and a $63.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of The Allstate in a research note on Tuesday, August 12th. They now have a $63.00 price target on the stock, up previously from $60.00. Finally, analysts at Keefe, Bruyette & Woods reiterated a “buy” rating on shares of The Allstate in a research note on Friday, August 1st. They now have a $65.00 price target on the stock, up previously from $63.00. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The Allstate presently has a consensus rating of “Buy” and a consensus target price of $64.62.
Shares of The Allstate (NYSE:ALL) traded up 0.56% during mid-day trading on Monday, hitting $61.49. The stock had a trading volume of 1,934,718 shares. The Allstate has a one year low of $47.83 and a one year high of $62.09. The stock has a 50-day moving average of $59.49 and a 200-day moving average of $57.53. The company has a market cap of $26.650 billion and a price-to-earnings ratio of 11.98. The Allstate also saw a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 15,282,985 shares, a growth of 228.5% from the July 31st total of 4,652,908 shares. Based on an average daily trading volume, of 3,048,443 shares, the short-interest ratio is currently 5.0 days. Approximately 3.7% of the company’s shares are sold short.
The Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.15. The company had revenue of $8.86 billion for the quarter, compared to the consensus estimate of $7.58 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts expect that The Allstate will post $5.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Friday, August 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, August 27th.
The Allstate Corporation (NYSE:ALL) is a holding company for Allstate Insurance Company.
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