Earnings Preview: Allstate

Allstate Corp. (ALL) is expected to report Q3 earnings after market close Wednesday Oct. 22, with a conference call scheduled for 9:00 am on Thursday Oct. 23.

Guidance

Analysts are looking for EPS of 72c on revenue of $6.32B. The consensus range for EPS is 10c to $1.30, according to First Call.

Analyst Views

Allstate investors may be anticipating a poor Q3 report from the company, since the Q3 results of three other major insurance companies have been disappointing. Progressive (PGR) reported a Q3 EPS loss of ($1.03), compared with analysts' consensus estimate of 33c. Travelers (TRV) announced Q3 EPS of 55c, versus the consensus of 69c. MetLife (MET) said that its Q3 revenue would be $8.6B, versus the consensus of $13.73B.

On the other hand, Sandler O'Neill upgraded Allstate to Buy from Hold on October 9. citing valuation. In addition, Barron's recently identified Allstate as one of the top 25 cash producers among publicly traded U.S. companies.