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The most recent trading session ended with Allstate (ALL) standing at $166.91, reflecting a +1.97% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.28%. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq gained 0.4%.

Shares of the insurer witnessed a gain of 4.21% over the previous month, beating the performance of the Finance sector with its loss of 2.84% and the S&P 500's gain of 3.78%.

The investment community will be closely monitoring the performance of Allstate in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. The company's earnings per share (EPS) are projected to be -$1.05, reflecting a 76.24% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $15.56 billion, reflecting a 10.09% rise from the equivalent quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.26 per share and a revenue of $62.7 billion, representing changes of +1190.53% and +9.24%, 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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 17.99% fall in the Zacks Consensus EPS estimate. Right now, Allstate possesses a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Allstate has a Forward P/E ratio of 13.35 right now. Its industry sports an average Forward P/E of 12.55, so one might conclude that Allstate is trading at a premium comparatively.

Also, we should mention that ALL has a PEG ratio of 1.91. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Insurance - Property and Casualty was holding an average PEG ratio of 1.57 at yesterday's closing price.

The Insurance - Property and Casualty industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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.