Allstate Corporation (The) (ALL) Set to Announce Quarterly Earnings on Wednesday
Allstate Corporation (The) (NYSE:ALL) will issue its quarterly earnings data after the market closes on Wednesday, November 1st. Analysts expect the company to announce earnings of $1.61 per share for the quarter.
Allstate Corporation (The) (NYSE:ALL) last issued its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.48. The company had revenue of $8.02 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. On average, analysts expect Allstate Corporation (The) to post $5.99 EPS for the current fiscal year and $7.02 EPS for the next fiscal year.
Shares of Allstate Corporation (NYSE:ALL) opened at 93.64 on Wednesday. The firm has a 50-day moving average price of $91.42 and a 200 day moving average price of $88.67. Allstate Corporation has a one year low of $66.55 and a one year high of $95.25. The stock has a market capitalization of $33.84 billion, a PE ratio of 13.83 and a beta of 1.08.
Allstate Corporation (The) declared that its board has authorized a share buyback program on Tuesday, August 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 63% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of equities analysts have recently weighed in on ALL shares. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a report on Thursday, July 20th. Barclays PLC cut their price target on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. Citigroup Inc. boosted their price target on Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Buckingham Research initiated coverage on Allstate Corporation (The) in a report on Monday, September 11th. They issued an “underperform” rating and a $74.00 price target for the company. Finally, Zacks Investment Research downgraded Allstate Corporation (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Allstate Corporation (The) has a consensus rating of “Hold” and an average target price of $91.62.
In other Allstate Corporation (The) news, President Matthew E. Winter sold 48,059 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $94.53, for a total transaction of $4,543,017.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan L. Lees sold 12,288 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $94.09, for a total value of $1,156,177.92. Following the sale, the executive vice president now directly owns 73,511 shares of the company’s stock, valued at approximately $6,916,649.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,544 shares of company stock valued at $9,017,568. 1.58% of the stock is owned by company insiders.
Allstate Corporation (The) Company Profile
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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