Allstate (ALL) Expected to Post Quarterly Sales of $8.37 Billion

Analysts expect Allstate (NYSE:ALL) to post sales of $8.37 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Allstate’s earnings, with the lowest sales estimate coming in at $8.27 billion and the highest estimate coming in at $8.54 billion. Allstate reported sales of $9.30 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 10%. The business is scheduled to announce its next earnings report on Tuesday, May 1st.

On average, analysts expect that Allstate will report full-year sales of $8.37 billion for the current financial year, with estimates ranging from $33.63 billion to $34.66 billion. For the next fiscal year, analysts expect that the business will report sales of $35.48 billion per share, with estimates ranging from $35.14 billion to $35.83 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Allstate.

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

Several research firms have issued reports on ALL. Zacks Investment Research lowered shares of Allstate from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Argus reissued a “buy” rating and set a $110.00 price objective on shares of Allstate in a report on Wednesday, February 21st. Morgan Stanley reissued an “equal weight” rating and set a $105.00 price objective (down from $113.00) on shares of Allstate in a report on Wednesday, February 21st. Citigroup dropped their price objective on shares of Allstate from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Deutsche Bank dropped their price objective on shares of Allstate from $102.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Allstate presently has a consensus rating of “Hold” and a consensus price target of $99.00.

A number of large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its holdings in Allstate by 3.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 54,205 shares of the insurance provider’s stock valued at $5,676,000 after purchasing an additional 1,699 shares during the last quarter. Wagner Wealth Management LLC purchased a new stake in Allstate in the fourth quarter valued at $894,000. Xact Kapitalforvaltning AB boosted its holdings in Allstate by 8.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 52,346 shares of the insurance provider’s stock valued at $5,481,000 after purchasing an additional 3,912 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Allstate by 929.2% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 89,126 shares of the insurance provider’s stock valued at $6,364,000 after purchasing an additional 80,466 shares during the last quarter. Finally, CNB Bank purchased a new stake in Allstate in the fourth quarter valued at $429,000. 75.86% of the stock is currently owned by institutional investors.

Allstate stock opened at $96.84 on Thursday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.31. Allstate has a 1-year low of $79.09 and a 1-year high of $105.36. The stock has a market cap of $34,520.68, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 1.40 and a beta of 1.00.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.90%. This is a positive change from Allstate’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, March 2nd. Allstate’s dividend payout ratio is presently 21.98%.

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Allstate Company Profile

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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Earnings History and Estimates for Allstate (NYSE:ALL)

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