Allstate likely to miss results forecasts, ADM to beat -StarMine
NEW YORK Feb 1 (Reuters) - Allstate Corp is among companies likely to miss Wall Street earnings expectations when it reports next week, while Archer Daniels Midland Co could beat, Thomson Reuters StarMine forecasts show.
Allstate's forecast by StarMine, which weights analysts' forecasts based on accuracy and how recent the estimates are, is 9.8 percent below the consensus estimate, or the average of analysts' forecasts compiled by Thomson Reuters.
A StarMine forecast of at least 2 percent above or below consensus suggests the company is likely to post results above or below it.
Archer Daniels Midland's StarMine forecast is 5 percent above consensus.
The companies are among 89 Standard & Poor's 500 index components expected to report earnings next week. Allstate's results are due Wednesday while Archer Daniels Midland is due Tuesday.
Other companies StarMine has identified as likely to disappoint next week are Exelon Corp, with a StarMine forecast 2.8 percent below consensus; and AGL Resources, with a StarMine forecast 3.5 percent below consensus.
Among other companies StarMine sees as likely to surprise to the upside next week: Hartford Financial Services Group Inc , with a StarMine forecast 9 percent above consensus; and Cummins Inc, with a StarMine forecast 3.1 percent above consensus.
The picks are also based on comments by analysts who StarMine says have a strong history of being correct with their forecasts.