Allstate Corp. (ALL) Forecasted to Post FY2016 Earnings of $4.25 Per Share
Allstate Corp. (NYSE:ALL) – Research analysts at FBR & Co cut their FY2016 earnings estimates for shares of Allstate Corp. in a note issued to investors on Wednesday. FBR & Co analyst R. Binner now anticipates that the firm will post earnings of $4.25 per share for the year, down from their previous estimate of $4.35. FBR & Co also issued estimates for Allstate Corp.’s FY2018 earnings at $6.50 EPS.
Allstate Corp. (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.26. The business had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Allstate Corp. had a return on equity of 9.16% and a net margin of 4.25%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 EPS.
Other analysts have also issued research reports about the company. Deutsche Bank AG reissued a “buy” rating and issued a $80.00 target price on shares of Allstate Corp. in a report on Thursday. Zacks Investment Research raised Allstate Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Allstate Corp. in a report on Thursday, November 3rd. William Blair reissued an “underperform” rating on shares of Allstate Corp. in a report on Saturday, September 10th. Finally, Credit Suisse Group AG set a $73.00 target price on Allstate Corp. and gave the stock a “buy” rating in a report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. Allstate Corp. presently has an average rating of “Buy” and a consensus target price of GBX 72.27 ($0.90).
Allstate Corp. (NYSE:ALL) opened at 69.45 on Thursday. The firm has a 50-day moving average price of $68.27 and a 200-day moving average price of $68.07. The company has a market capitalization of $25.57 billion, a price-to-earnings ratio of 18.81 and a beta of 0.96. Allstate Corp. has a 52 week low of $56.03 and a 52 week high of $70.38.
Institutional investors have recently added to or reduced their stakes in the stock. Van Hulzen Asset Management LLC acquired a new position in shares of Allstate Corp. during the third quarter valued at approximately $112,000. Pinkerton Retirement Specialists LLC increased its position in shares of Allstate Corp. by 654.6% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,645 shares of the company’s stock valued at $115,000 after buying an additional 1,427 shares during the last quarter. Zions Bancorporation increased its position in shares of Allstate Corp. by 64.1% in the second quarter. Zions Bancorporation now owns 2,089 shares of the company’s stock valued at $146,000 after buying an additional 816 shares during the last quarter. Integrated Investment Consultants LLC increased its position in shares of Allstate Corp. by 9.2% in the second quarter. Integrated Investment Consultants LLC now owns 2,483 shares of the company’s stock valued at $174,000 after buying an additional 209 shares during the last quarter. Finally, Global X Management Co. LLC increased its position in shares of Allstate Corp. by 110.0% in the third quarter. Global X Management Co. LLC now owns 2,593 shares of the company’s stock valued at $179,000 after buying an additional 1,358 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.
About Allstate Corp.
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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