Ally Financial Inc. (ALLY) Expected to Announce Earnings of $0.58 Per Share
Analysts forecast that Ally Financial Inc. (NYSE:ALLY) will post earnings per share (EPS) of $0.58 for the current quarter, Zacks reports. Three analysts have made estimates for Ally Financial’s earnings. The lowest EPS estimate is $0.54 and the highest is $0.62. Ally Financial posted earnings per share of $0.56 during the same quarter last year, which would indicate a positive year over year growth rate of 3.6%. The company is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, October 25th.
On average, analysts expect that Ally Financial will report full-year earnings of $2.23 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.31. For the next financial year, analysts forecast that the business will report earnings of $2.56 per share, with EPS estimates ranging from $2.44 to $2.66. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Ally Financial.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. Ally Financial had a net margin of 13.83% and a return on equity of 7.55%. During the same quarter in the prior year, the firm earned $0.54 EPS.
ALLY has been the subject of a number of analyst reports. Piper Jaffray Companies restated a “buy” rating on shares of Ally Financial in a research note on Friday, September 1st. BidaskClub upgraded Ally Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. 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. TheStreet upgraded Ally Financial from a “c” rating to a “b-” rating in a research note on Wednesday, July 19th. Finally, ValuEngine upgraded Ally Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Ally Financial has an average rating of “Buy” and a consensus target price of $25.77.
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A number of large investors have recently added to or reduced their stakes in ALLY. BlackRock Inc. lifted its holdings in Ally Financial by 1,072.5% during the 1st quarter. BlackRock Inc. now owns 23,195,719 shares of the financial services provider’s stock worth $471,567,000 after purchasing an additional 21,217,360 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Ally Financial by 262.5% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,275,900 shares of the financial services provider’s stock worth $110,266,000 after purchasing an additional 3,820,400 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Ally Financial by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 38,532,959 shares of the financial services provider’s stock worth $783,374,000 after purchasing an additional 3,551,308 shares during the last quarter. FMR LLC lifted its holdings in Ally Financial by 736.9% during the 1st quarter. FMR LLC now owns 3,398,866 shares of the financial services provider’s stock worth $69,099,000 after purchasing an additional 2,992,720 shares during the last quarter. Finally, Thrivent Financial For Lutherans acquired a new stake in Ally Financial during the 2nd quarter worth approximately $54,346,000.
Shares of Ally Financial (NYSE:ALLY) traded down 0.94% during trading on Wednesday, reaching $24.26. 2,377,427 shares of the company’s stock were exchanged. The company’s 50-day moving average is $22.81 and its 200 day moving average is $20.98. Ally Financial has a 52 week low of $16.68 and a 52 week high of $24.57. The stock has a market capitalization of $11.64 billion, a PE ratio of 12.36 and a beta of 1.44.
Ally Financial announced that its board has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $760.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
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.
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