Brokerages Expect Ally Financial Inc. (NYSE:ALLY) Will Post Quarterly Sales of $1.42 Billion
Analysts expect Ally Financial Inc. (NYSE:ALLY) to report sales of $1.42 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Ally Financial’s earnings, with estimates ranging from $1.38 billion to $1.45 billion. Ally Financial reported sales of $1.36 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.4%. The company is expected to report its next earnings report before the market opens on Thursday, July 27th.
According to Zacks, analysts expect that Ally Financial will report full-year sales of $1.42 billion for the current year, with estimates ranging from $5.67 billion to $5.91 billion. For the next financial year, analysts expect that the firm will report sales of $6.17 billion per share, with estimates ranging from $5.97 billion to $6.55 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Ally Financial.
Ally Financial (NYSE:ALLY) last issued its earnings results on Thursday, April 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.01. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Ally Financial had a return on equity of 7.63% and a net margin of 15.68%. During the same period last year, the firm posted $0.52 earnings per share.
A number of analysts recently commented on the stock. Stephens cut shares of Ally Financial from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $23.00 to $20.00 in a research note on Monday, July 17th. BidaskClub raised shares of Ally Financial from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $24.00 price target on shares of Ally Financial in a research report on Tuesday, July 4th. Piper Jaffray Companies started coverage on shares of Ally Financial in a research report on Friday, June 9th. They set an “overweight” rating and a $25.00 price target for the company. Finally, BMO Capital Markets reissued a “buy” rating and set a $26.00 price target on shares of Ally Financial in a research report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $24.62.
Ally Financial (ALLY) opened at 21.93 on Friday. The stock’s 50 day moving average is $20.43 and its 200 day moving average is $20.49. The stock has a market capitalization of $10.52 billion, a PE ratio of 10.31 and a beta of 1.39. Ally Financial has a 12-month low of $16.68 and a 12-month high of $23.62.
Ally Financial announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a $0.12 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.48 dividend on an annualized basis and a yield of 2.19%. This is a boost from Ally Financial’s previous quarterly dividend of $0.08. Ally Financial’s dividend payout ratio (DPR) is currently 15.09%.
ILLEGAL ACTIVITY NOTICE: This piece was first published by American Banking News and is the property of of American Banking News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/07/22/brokerages-expect-ally-financial-inc-nyseally-will-post-quarterly-sales-of-1-42-billion.html.
A number of large investors have recently added to or reduced their stakes in the stock. FTB Advisors Inc. boosted its stake in Ally Financial by 35.8% in the first quarter. FTB Advisors Inc. now owns 5,773 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,523 shares in the last quarter. Creative Planning boosted its stake in Ally Financial by 385.0% in the first quarter. Creative Planning now owns 6,299 shares of the financial services provider’s stock worth $128,000 after buying an additional 8,509 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Ally Financial by 668.0% in the first quarter. Tower Research Capital LLC TRC now owns 6,950 shares of the financial services provider’s stock worth $141,000 after buying an additional 6,045 shares in the last quarter. First Mercantile Trust Co. boosted its stake in Ally Financial by 27.3% in the first quarter. First Mercantile Trust Co. now owns 9,800 shares of the financial services provider’s stock worth $199,000 after buying an additional 2,100 shares in the last quarter. Finally, Capstone Asset Management Co. bought a new stake in Ally Financial during the second quarter worth about $208,000. 98.81% of the stock is currently owned by hedge funds and other institutional investors.
About Ally Financial
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ally Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ally Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.