Allstate Earnings: ALL Stock Unmoved Despite Q1 Earnings Beat

Allstate (NYSE:ALL) reported its latest quarterly earnings results after hours today, bringing in a profit that was stronger than what analysts called for on an adjusted basis, yet ALL stock was not experiencing much movement after hours on Wednesday.The Northbrook, Ill.-based insurance provider said that for its first quarter of its fiscal 2019, it brought in net income of $1.29 billion. The company added that its earnings came in at $2.30 per share on an adjusted basis when taking into account non-recurring gains.These results were positive overall for Allstate as the average Wall Street consensus estimate was for the company to bring in adjusted earnings of $2.29 per share, according to a survey of seven analysts conducted by Zacks Investment Research. The company added that its revenue for its first three months of the current fiscal year tallied up to $10.99 billion. On an adjusted basis, the company’s revenue got up to $10.33 billion.InvestorPlace – Stock Market News, Stock Advice & Trading TipsIt was an uneventful afternoon for ALL stock as shares were largely unmoved after the bell despite the overall strong quarterly earnings performance for the insurance business. Shares had taken a hit of about 1.1% during regular trading hours Wednesday in anticipation of the company’s results.The current calendar year has been a good one overall for Allstate as the company’s stock price has increased from $81.64 per share at the beginning of the year to now reach $98 per share, marking a 20% improvement year-to-date. More From InvestorPlace * 7 Stocks to Buy That Ought to Buy Back Shares * 7 Stocks That Are Soaring This Earnings Season * 7 A-Rated Stocks That Are Under $10 Compare Brokers The post Allstate Earnings: ALL Stock Unmoved Despite Q1 Earnings Beat appeared first on InvestorPlace.