Allstate Corp (ALL) Expected to Post Earnings of $1.57 Per Share

Wall Street brokerages forecast that Allstate Corp (NYSE:ALL) will report earnings per share of $1.57 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Allstate’s earnings. The highest EPS estimate is $2.12 and the lowest is $1.32. Allstate posted earnings per share of $2.17 in the same quarter last year, which would indicate a negative year over year growth rate of 27.6%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, February 7th.

According to Zacks, analysts expect that Allstate will report full-year earnings of $6.18 per share for the current financial year, with EPS estimates ranging from $5.96 to $6.73. For the next financial year, analysts forecast that the business will post earnings of $8.13 per share, with EPS estimates ranging from $6.85 to $9.05. Zacks’ EPS calculations are an average based on a survey of research firms that follow Allstate.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.01). The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. Allstate had a return on equity of 13.11% and a net margin of 7.32%. Allstate’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share.

A number of equities research analysts have issued reports on ALL shares. Zacks Investment Research upgraded shares of Allstate from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. UBS Group increased their target price on shares of Allstate from $93.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Keefe, Bruyette & Woods lowered shares of Allstate from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 2nd. Citigroup reduced their target price on shares of Allstate from $107.00 to $106.00 and set a “buy” rating on the stock in a report on Monday, October 2nd. Finally, Goldman Sachs Group started coverage on shares of Allstate in a report on Monday, December 4th. They set a “neutral” rating and a $104.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Allstate presently has a consensus rating of “Hold” and a consensus price target of $96.43.

Allstate (ALL) traded down $0.20 during trading on Friday, reaching $100.53. 2,777,106 shares of the company’s stock were exchanged, compared to its average volume of 2,100,000. The firm has a market cap of $36,070.00, a price-to-earnings ratio of 13.96, a PEG ratio of 1.49 and a beta of 1.12. Allstate has a 12 month low of $74.74 and a 12 month high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Wednesday, November 29th. Allstate’s dividend payout ratio is presently 20.56%.

In other Allstate news, EVP Susan L. Lees sold 4,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $100.49, for a total value of $401,960.00. Following the sale, the executive vice president now directly owns 24,341 shares of the company’s stock, valued at approximately $2,446,027.09. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Suren Gupta sold 103,242 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 432,242 shares of company stock worth $42,827,931. Insiders own 1.58% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Highland Capital Management LLC purchased a new stake in shares of Allstate in the 4th quarter valued at approximately $773,000. Eqis Capital Management Inc. increased its position in shares of Allstate by 141.0% in the 4th quarter. Eqis Capital Management Inc. now owns 6,942 shares of the insurance provider’s stock valued at $727,000 after purchasing an additional 4,062 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Allstate by 7.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,467,650 shares of the insurance provider’s stock valued at $153,721,000 after purchasing an additional 101,911 shares during the last quarter. Vicus Capital purchased a new position in shares of Allstate in the 4th quarter valued at $204,000. Finally, APG Asset Management N.V. grew its position in shares of Allstate by 20.2% in the 4th quarter. APG Asset Management N.V. now owns 4,047,736 shares of the insurance provider’s stock valued at $352,963,000 after buying an additional 679,300 shares during the last quarter. 76.58% of the stock is currently owned by institutional investors.

WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another site, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/28/allstate-corp-all-expected-to-post-earnings-of-1-57-per-share.html.

About Allstate

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.

Get a free copy of the Zacks research report on Allstate (ALL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply