Earnings Estimates Rising for Allstate (ALL): Will It Gain?

Core Insights - Allstate (ALL) shows potential as a strong investment due to significant upward revisions in earnings estimates, indicating an improving earnings outlook [1][2] - Analysts' growing optimism is reflected in the upward trend of earnings estimate revisions, which historically correlates with stock price movements [2][3] Current-Quarter Estimate Revisions - For the current quarter, Allstate is projected to earn $7.72 per share, marking a 0.7% increase from the previous year [5] - The Zacks Consensus Estimate for Allstate has risen by 10.18% over the last 30 days, with five estimates increasing and no negative revisions [5] Current-Year Estimate Revisions - For the full year, Allstate is expected to earn $27.69 per share, representing a year-over-year increase of 51.2% [6] - The consensus estimate has improved by 15.76% over the past month, with seven estimates moving higher and no negative revisions [6][7] Favorable Zacks Rank - Allstate currently holds a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts on the positive earnings revisions [8] - Stocks with a Zacks Rank 1 and 2 have historically outperformed the S&P 500, suggesting a favorable investment environment for Allstate [8] Bottom Line - Allstate shares have increased by 8% over the past four weeks, reflecting investor confidence in the company's earnings growth prospects [9]