Analysts Anticipate Ally Financial Inc. (ALLY) to Post $0.57 Earnings Per Share
Equities analysts expect Ally Financial Inc. (NYSE:ALLY) to post $0.57 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ally Financial’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.62. Ally Financial reported earnings per share of $0.56 during the same quarter last year, which suggests a positive year-over-year growth rate of 1.8%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Ally Financial will report full year earnings of $2.22 per share for the current year, with EPS estimates ranging from $2.16 to $2.31. For the next year, analysts anticipate that the company will post earnings of $2.56 per share, with EPS estimates ranging from $2.44 to $2.66. Zacks’ EPS calculations are an average based on a survey of research firms that cover Ally Financial.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. Ally Financial had a net margin of 13.83% and a return on equity of 7.55%. During the same period last year, the business posted $0.54 EPS.
ALLY has been the topic of several research reports. Piper Jaffray Companies restated a “buy” rating on shares of Ally Financial in a research note on Friday, September 1st. BidaskClub upgraded shares of Ally Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. TheStreet upgraded shares of Ally Financial from a “c” rating to a “b-” rating in a research note on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $28.00 price target on shares of Ally Financial in a research note on Wednesday, August 23rd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $24.00 price target on shares of Ally Financial in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.23.
Shares of Ally Financial (ALLY) opened at 22.58 on Friday. Ally Financial has a 52-week low of $16.68 and a 52-week high of $23.62. The firm has a market capitalization of $10.83 billion, a price-to-earnings ratio of 11.51 and a beta of 1.42. The firm has a 50-day moving average of $22.48 and a 200 day moving average of $20.86.
Ally Financial announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $760.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank grew its position in shares of Ally Financial by 23.0% during the 2nd quarter. Toronto Dominion Bank now owns 5,714 shares of the financial services provider’s stock worth $119,000 after buying an additional 1,070 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Ally Financial by 668.0% during the 1st 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 during the period. Capstone Asset Management Co. acquired a new stake in shares of Ally Financial during the 2nd quarter worth approximately $208,000. Twin Tree Management LP acquired a new stake in shares of Ally Financial during the 2nd quarter worth approximately $215,000. Finally, Achmea Investment Management B.V. acquired a new stake in shares of Ally Financial during the 1st quarter worth approximately $210,000.
Ally Financial Company Profile
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.
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