Here's Why Allstate (ALL) Gained But Lagged the Market Today

Company Overview - Allstate (ALL) closed at $174.83, with a daily increase of +0.26%, underperforming the S&P 500's gain of 1.08% [1] - Over the past month, Allstate's shares have increased by 8.64%, outperforming the Finance sector's decline of 2.72% and the S&P 500's gain of 0.43% [1] - The company is set to announce its earnings on July 31, 2024, with an expected EPS of -$0.53, indicating an 88.01% growth year-over-year, and projected revenue of $15.56 billion, up 10.09% from the prior-year quarter [1] Earnings Estimates - Full-year Zacks Consensus Estimates predict earnings of $12.72 per share and revenue of $62.7 billion, reflecting year-over-year changes of +1238.95% and +9.24%, respectively [2] - Recent analyst estimate revisions indicate optimism regarding Allstate's business and profitability, which are correlated with near-term share price momentum [2] Valuation Metrics - Allstate currently has a Forward P/E ratio of 13.71, compared to the industry average of 12.6, suggesting it is trading at a premium [3] - The company's PEG ratio stands at 1.96, while the Insurance - Property and Casualty industry has an average PEG ratio of 1.6 [3] Industry Context - The Insurance - Property and Casualty industry is part of the Finance sector and holds a Zacks Industry Rank of 71, placing it in the top 29% of over 250 industries [4] - The Zacks Industry Rank assesses the strength of industry groups, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [4]