Allstate (ALL) Stock Higher in After-Hours Trading on Earnings Beat
NEW YORK (TheStreet) -- Allstate (ALL) - Get Report stock is up by 0.32% to $62 in after-hours trading on Monday, following the release of the company's 2015 third quarter earnings results.
The insurance company posted earnings of $1.54 per share for the most recent quarter, down from $1.74 per share for the year ago period.
Revenue increased year over year to $9.03 billion from $8.94 billion for the 2014 third quarter.
Analysts surveyed by Thomson Reuters had forecast Allstate to report earnings of $1.31 per share on revenue of $8.14 billion.
"Allstate had net income of $621 million, or $1.54 per diluted common share in the third quarter of 2015, reflecting our focus on delivering good returns on capital, growing profitably and providing cash to shareholders," CEO Thomas J. Wilson said in a statement.
Separately, TheStreet Ratings team rates ALLSTATE CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate ALLSTATE CORP (ALL) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: ALL
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