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Allstate (ALL) closed the most recent trading day at $159.54, moving +0.7% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.1%. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq gained 0.28%.

Shares of the insurer have depreciated by 4.02% over the course of the past month, underperforming the Finance sector's gain of 1.14% and the S&P 500's gain of 4.08%.

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 July 31, 2024. In that report, analysts expect Allstate to post earnings of -$1.14 per share. This would mark year-over-year growth of 74.21%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.56 billion, up 10.09% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of $12.15 per share and revenue of $62.79 billion, which would represent changes of +1178.95% and +9.4%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Allstate. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 19.84% lower. Right now, Allstate possesses a Zacks Rank of #3 (Hold).

In terms of valuation, Allstate is presently being traded at a Forward P/E ratio of 13.05. For comparison, its industry has an average Forward P/E of 12.59, which means Allstate is trading at a premium to the group.

We can additionally observe that ALL currently boasts a PEG ratio of 1.86. 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. The average PEG ratio for the Insurance - Property and Casualty industry stood at 1.54 at the close of the market yesterday.

The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 42, positioning it in the top 17% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.