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- 1 On this weekend, ALL stock price dropped over 1%, which further showed nearly 6% of weekly price gain.
- 2 Earlier in August 2023, Allstate Corp. will release its Q2 2023 earnings and revenue report.
Allstate Corp. (ALL) price performed slow around this weekend as bears have shown their market dominance during the trading session. With a bearish trend, the upside movement of ALL stock started sliding down and dropped its weekly price rise with just 5.69% growth. In the last one month, ALL share price rose 2.42% which showed 11.39% of 6-month growth. Moreover, the year-to-date (YTD) price analysis also showed a bearish trend with 18.24% of price decline.
ALL Stock Price Analysis
From $112.00 to $110.24, ALL stock prices showed a bearish trend on July 21, 2023, Friday’s trading session. In the intraday trading session, ALL share price showed 1.04% of price decline, while weekly price analysis showed bullish sentiments. However, the recent closing price of stock was nearing its 50-day moving average which last year experienced bears’ dominance.
According to TradingView, a web-based social network for traders, the RSI of ALL stock signaled selling pressure while bulls support has taken its price to almost near its 50-day moving average. Moreover, next month, the company will report its Q2 2023 earnings and revenue report. Thus ALL shares may further show volatility in the coming week.
The 1-year price target set by the analysts is around $128.88 which is an over 16% gain from the recent closing price of stock. They are offering their maximum estimate at $162.00 while minimum estimate is at %100.00. Moreover, in the past 3-months, analysts have given a “buy” rating to Allstate Corporation.
The Fundamentals of Allstate Corporation
Allstate Corp. (NYSE: ALL), an American insurance company, has a market cap of nearly $29.12 Billion. Earlier in May 2023, Allstate Corp. reported its Q1 2023 earnings and revenue report that states its net income in the quarter was negative $320.00 Million. Moreover, ALL dividends are paid quarterly and the next dividend per share is expected to be $0.89. As of now, Dividend Yield (TTM)% is 3.14%.
In Q1 2023, company’s earnings per share (EPS) were negative $1.30 whereas the estimation was negative $1.05 which accounts for a negative 23.32% surprise. The revenue for the same period amounts to $11.78 Billion despite the estimated figure of $11.65 Billion. For the upcoming quarter, the estimated EPS is negative $3.88, and revenue is expected to reach $12.30 Billion.
In 2022, the revenue of Allstate Corp. amounted to $45.79 Billion, the most of which — $46.64 Billion — came from its highest performing source at the moment – Property-Liability. The U.S. became the greatest contributor to the revenue figure of Allstate Corp. which last year brought it to $49.21 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
