Allstate (ALL) Laps the Stock Market: Here's Why

Allstate (ALL) closed at $190.53 in the latest trading session, marking a +1.2% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.77%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.Prior to today's trading, shares of the insurer had lost 0.01% over the past month. This has was narrower than the Finance sector's loss of 2.93% and lagged the S&P 500's gain of 4.87% in that time.The investment community will be paying close attention to the earnings performance of Allstate in its upcoming release. The company is slated to reveal its earnings on October 30, 2024. It is anticipated that the company will report an EPS of $3.25, marking a 301.23% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $16.24 billion, up 11.37% from the year-ago period.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $15.13 per share and a revenue of $63.73 billion, representing changes of +1492.63% and +11.04%, respectively, from the prior year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Allstate. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.15% downward. Allstate is currently a Zacks Rank #3 (Hold).Digging into valuation, Allstate currently has a Forward P/E ratio of 12.44. This indicates a discount in contrast to its industry's Forward P/E of 13.51.We can also see that ALL currently has a PEG ratio of 1.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Insurance - Property and Casualty industry had an average PEG ratio of 1.7.The Insurance - Property and Casualty industry is part of the Finance sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Allstate Corporation (ALL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks