Earnings Preview: Allstate

Allstate (ALL) is expected to report Q2 earnings after market close today, with a conference call scheduled for 9:00 am ET on Thursday, July 24.

Guidance

Analysts are looking for EPS of $1.29 on revenue of $8.80B. The consensus range for EPS is 91c to $1.59, while the consensus range for revenue is $8.78B to $8.84B, according to First Call.

Analyst Views

The Boyar Value Fund's Mark Boyar recently told Barron's that he sees a "once-in-a-lifetime-opportunity" in financials, and he views Allstate as one of the best insurance companies in which to invest.

After California announced earlier this month that it would force Allstate to lower its homeowner insurance rates in the state by 28.5%, investors may be looking to see the financial impact that this decision will have on the insurer. Bernstein, which has an Outperform rating on Allstate, has suggested that the insurer will benefit from reduced auto insurance claims as Americans drive less due to high fuel costs.