Analysts Anticipate Ally Financial Inc. (NYSE:ALLY) Will Announce Earnings of $1.59 Per Share

Wall Street brokerages expect Ally Financial Inc. (NYSE:ALLY) to announce $1.59 earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Ally Financial’s earnings, with the lowest EPS estimate coming in at $1.40 and the highest estimate coming in at $2.03. Ally Financial reported earnings of $1.25 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 27.2%. The business is expected to announce its next quarterly earnings report on Friday, October 15th.

On average, analysts expect that Ally Financial will report full-year earnings of $6.55 per share for the current year, with EPS estimates ranging from $6.14 to $6.91. For the next financial year, analysts forecast that the firm will report earnings of $6.32 per share, with EPS estimates ranging from $5.33 to $7.04. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Ally Financial.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Monday, July 19th. The financial services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.88. Ally Financial had a net margin of 37.19% and a return on equity of 18.89%. During the same quarter last year, the firm earned $0.61 EPS.

Several equities analysts have commented on the company. Zacks Investment Research downgraded Ally Financial from a “strong-buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a report on Thursday, May 27th. BMO Capital Markets initiated coverage on shares of Ally Financial in a research note on Tuesday, July 6th. They issued a “buy” rating and a $70.00 price objective on the stock. Piper Sandler lifted their price target on shares of Ally Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, April 8th. They noted that the move was a valuation call. Wells Fargo & Company lifted their price objective on Ally Financial from $51.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, April 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Ally Financial from $65.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $53.17.

In related news, CFO Jennifer A. Laclair sold 3,334 shares of the stock in a transaction on Monday, April 26th. The stock was sold at an average price of $50.00, for a total value of $166,700.00. Following the sale, the chief financial officer now owns 102,101 shares in the company, valued at approximately $5,105,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jason E. Schugel sold 2,500 shares of the stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $55.30, for a total value of $138,250.00. Following the completion of the sale, the insider now owns 146,856 shares in the company, valued at approximately $8,121,136.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,584 shares of company stock worth $1,580,122. Company insiders own 0.46% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ALLY. Achmea Investment Management B.V. grew its holdings in shares of Ally Financial by 23.5% during the 4th quarter. Achmea Investment Management B.V. now owns 81,802 shares of the financial services provider’s stock worth $2,917,000 after purchasing an additional 15,563 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Ally Financial by 7,311.9% during the 1st quarter. Voloridge Investment Management LLC now owns 776,992 shares of the financial services provider’s stock worth $35,128,000 after purchasing an additional 766,509 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Ally Financial by 0.7% during the 1st quarter. Nuveen Asset Management LLC now owns 2,693,500 shares of the financial services provider’s stock worth $121,773,000 after purchasing an additional 18,819 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Ally Financial by 1.0% during the 1st quarter. Stephens Inc. AR now owns 60,684 shares of the financial services provider’s stock worth $2,744,000 after buying an additional 604 shares during the last quarter. Finally, EJF Capital LLC bought a new stake in shares of Ally Financial during the 1st quarter worth $5,318,000. 94.08% of the stock is currently owned by hedge funds and other institutional investors.

ALLY traded down $0.21 during midday trading on Thursday, hitting $52.31. 115,763 shares of the company’s stock traded hands, compared to its average volume of 3,316,323. Ally Financial has a one year low of $19.86 and a one year high of $56.61. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.40. The company’s fifty day moving average price is $52.23. The stock has a market capitalization of $19.39 billion, a P/E ratio of 6.91 and a beta of 1.59.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Monday, August 2nd will be paid a $0.25 dividend. This is a boost from Ally Financial’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, July 30th. This represents a $1.00 annualized dividend and a yield of 1.91%. Ally Financial’s payout ratio is presently 25.08%.

About Ally Financial

Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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Earnings History and Estimates for Ally Financial (NYSE:ALLY)

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