Allstate Corp (ALL) Expected to Announce Quarterly Sales of $8.96 Billion

Wall Street brokerages predict that Allstate Corp (NYSE:ALL) will report sales of $8.96 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Allstate’s earnings, with the lowest sales estimate coming in at $8.96 billion and the highest estimate coming in at $8.97 billion. Allstate reported sales of $9.90 billion in the same quarter last year, which indicates a negative year over year growth rate of 9.5%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, May 1st.

On average, analysts expect that Allstate will report full-year sales of $36.60 billion for the current fiscal year, with estimates ranging from $36.43 billion to $36.78 billion. For the next financial year, analysts expect that the business will report sales of $38.19 billion, with estimates ranging from $38.00 billion to $38.37 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Allstate.

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Allstate (NYSE:ALL) last posted its quarterly earnings results on Tuesday, February 5th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.23. Allstate had a net margin of 5.66% and a return on equity of 14.00%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.66 billion. During the same period in the prior year, the firm posted $2.09 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year.

Several analysts have issued reports on the stock. ValuEngine raised shares of Allstate from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. William Blair raised shares of Allstate from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 6th. Wells Fargo & Co set a $100.00 price target on shares of Allstate and gave the stock a “hold” rating in a research report on Thursday, December 13th. Argus dropped their price target on shares of Allstate from $115.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, November 28th. Finally, Morgan Stanley dropped their price target on shares of Allstate from $105.00 to $102.00 and set a “hold” rating on the stock in a research report on Wednesday, November 14th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Allstate currently has a consensus rating of “Hold” and an average target price of $101.27.

Large investors have recently added to or reduced their stakes in the business. Ipswich Investment Management Co. Inc. acquired a new position in shares of Allstate in the fourth quarter valued at about $25,000. 1 North Wealth Services LLC acquired a new position in shares of Allstate in the fourth quarter valued at about $25,000. We Are One Seven LLC acquired a new position in shares of Allstate in the fourth quarter valued at about $27,000. Executive Wealth Management LLC acquired a new position in shares of Allstate in the fourth quarter valued at about $32,000. Finally, Sontag Advisory LLC acquired a new position in shares of Allstate in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

NYSE ALL traded down $0.47 on Friday, hitting $93.53. 1,493,328 shares of the stock were exchanged, compared to its average volume of 2,422,930. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.33. Allstate has a 52 week low of $77.00 and a 52 week high of $102.73. The firm has a market capitalization of $31.30 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 1.23 and a beta of 0.82.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Thursday, February 28th will be issued a $0.50 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, February 27th. Allstate’s payout ratio is currently 22.80%.

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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