Update (9:35 a.m.): Updated with Thursday market open information.
NEW YORK (TheStreet) -- Credit Suisse reduced its target price on Allstate (ALL) to $62, reduced its estimates through 2015 and set an "outperform" rating. The firm noted the company is seeing higher catastrophe losses and lower cost-cutting.
The stock was rising 2.61% to $53.14 shortly after the market opened on Thursday.
- The revenue growth came in higher than the industry average of 21.5%. Since the same quarter one year prior, revenues slightly increased by 2.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
- Although ALL's debt-to-equity ratio of 0.29 is very low, it is currently higher than that of the industry average.
- ALLSTATE CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, ALLSTATE CORP increased its bottom line by earning $4.81 versus $4.68 in the prior year. This year, the market expects an improvement in earnings ($5.13 versus $4.81).
- Net operating cash flow has significantly increased by 171.55% to $1,184.00 million when compared to the same quarter last year. In addition, ALLSTATE CORP has also vastly surpassed the industry average cash flow growth rate of -86.73%.
- You can view the full analysis from the report here: ALL Ratings Report
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