Merrill Lynch analyst Joshua Shanker reiterated a Buy rating on Allstate Corporation (NYSE:ALL) on Wednesday, setting a price target of $138, which is approximately 44.29% above the present share price of $95.64.
Shanker expects Allstate Corporation to post earnings per share (EPS) of $1.62 for the third quarter of 2020.
The current consensus among 8 TipRanks analysts is for a Moderate Buy rating of shares in Allstate, with an average price target of $118.86.
The analysts price targets range from a high of $138 to a low of $101.
In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $10.08 billion and a net profit of $0. The company's market cap is $29.1 billion.
According to TipRanks.com, Merrill Lynch analyst Joshua Shanker is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 6.5% and a 60.67% success rate.
The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Service Businesses, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other. The Allstate Protection segment sells private passenger auto and homeowners insurance through agencies and directly through call centers and the internet. These products are marketed under the Allstate, Encompass and Esurance brand names. The Service Businesses segment offers a range of products and services that expand and enhance customer value propositions including SquareTrade, Arity, Allstate Roadside, and Allstate Dealer Services. The Allstate Life segment provides traditional, interest-sensitive, and variable life insurance products through Allstate exclusive agencies and exclusive financial specialists. The Allstate Benefits segment gives voluntary benefits products, including life, accident, critical illness, short-term disability, and other health products sold through workplace enrolling independent agents and Allstate exclusive agencies. The Allstate Annuities segment consists of deferred fixed annuities and immediate fixed annuities. The Discontinued Lines and Coverages segment includes results from property and casualty insurance coverage that primarily relates to policies written during the 1960s through the mid-1980s. The Corporate and Other segment comprises of the company's activities and certain non-insurance operations. The company was founded on April 17, 1931 and is headquartered in Northbrook, IL.