Analysts Expect Allstate (ALL) Will Announce Earnings of $2.40 Per Share

Analysts forecast that Allstate (NYSE:ALL) will announce earnings per share (EPS) of $2.40 for the current quarter, according to Zacks. Three analysts have issued estimates for Allstate’s earnings, with the lowest EPS estimate coming in at $1.78 and the highest estimate coming in at $2.80. Allstate reported earnings of $1.64 per share during the same quarter last year, which would indicate a positive year over year growth rate of 46.3%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, May 1st.

According to Zacks, analysts expect that Allstate will report full year earnings of $8.41 per share for the current financial year, with EPS estimates ranging from $7.50 to $9.15. For the next financial year, analysts expect that the company will report earnings of $8.79 per share, with EPS estimates ranging from $7.80 to $9.54. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Allstate.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.56. Allstate had a return on equity of 12.57% and a net margin of 8.28%. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis.

A number of equities analysts recently commented on ALL shares. Keefe, Bruyette & Woods downgraded Allstate from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 2nd. Zacks Investment Research downgraded Allstate from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Morgan Stanley restated an “equal weight” rating and issued a $105.00 price objective (down previously from $113.00) on shares of Allstate in a report on Wednesday, February 21st. Wells Fargo downgraded Allstate from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 9th. Finally, Argus restated a “buy” rating and issued a $110.00 price objective on shares of Allstate in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. Allstate currently has an average rating of “Hold” and an average price target of $100.40.

A number of institutional investors have recently made changes to their positions in ALL. Rational Advisors LLC bought a new stake in Allstate during the fourth quarter worth approximately $126,000. Taylor Hoffman Wealth Management bought a new stake in Allstate during the fourth quarter worth approximately $131,000. Synovus Financial Corp bought a new stake in Allstate during the third quarter worth approximately $137,000. Americafirst Capital Management LLC bought a new stake in Allstate during the third quarter worth approximately $138,000. Finally, Resources Investment Advisors Inc. boosted its position in Allstate by 71.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,340 shares of the insurance provider’s stock worth $140,000 after purchasing an additional 557 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

NYSE:ALL traded down $0.39 during mid-day trading on Friday, reaching $96.36. The stock had a trading volume of 1,638,740 shares, compared to its average volume of 2,526,663. Allstate has a fifty-two week low of $79.09 and a fifty-two week high of $105.36. The company has a market capitalization of $34,098.87, a P/E ratio of 14.36, a P/E/G ratio of 1.37 and a beta of 0.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.25 and a current ratio of 0.25.

The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 5th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.91%. This is a boost from Allstate’s previous quarterly dividend of $0.37. Allstate’s dividend payout ratio is presently 27.42%.

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About Allstate

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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