Analysts Anticipate Ally Financial Inc. (ALLY) Will Post Earnings of $0.57 Per Share
Analysts forecast that Ally Financial Inc. (NYSE:ALLY) will report earnings of $0.57 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Ally Financial’s earnings, with estimates ranging from $0.50 to $0.62. Ally Financial reported earnings of $0.56 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 1.8%. The company is expected to announce its next earnings results before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that Ally Financial will report full year earnings of $2.24 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.30. For the next fiscal year, analysts expect that the business will post earnings of $2.55 per share, with EPS estimates ranging from $2.44 to $2.66. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Ally Financial.
Ally Financial (NYSE:ALLY) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations 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 firm posted $0.54 earnings per share.
A number of brokerages recently issued reports on ALLY. Citigroup Inc. initiated coverage on shares of Ally Financial in a report on Monday, October 16th. They set a “buy” rating and a $30.00 price objective for the company. BidaskClub raised shares of Ally Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. BMO Capital Markets reissued a “buy” rating and issued a $26.00 price objective on shares of Ally Financial in a research report on Friday, August 25th. Zacks Investment Research raised shares of Ally Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Tuesday, September 26th. Finally, ValuEngine raised shares of Ally Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $26.38.
Shares of Ally Financial (NYSE ALLY) traded down 1.08% during midday trading on Monday, hitting $24.62. 2,443,402 shares of the company traded hands. The stock has a market capitalization of $11.81 billion, a P/E ratio of 12.55 and a beta of 1.44. The stock’s 50-day moving average is $23.57 and its 200 day moving average is $21.35. Ally Financial has a 12-month low of $16.68 and a 12-month high of $24.94.
Ally Financial announced that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that permits the company to repurchase $760.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, October 31st. Ally Financial’s payout ratio is 24.49%.
A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in Ally Financial by 40.6% during the 1st quarter. Principal Financial Group Inc. now owns 80,574 shares of the financial services provider’s stock valued at $1,638,000 after buying an additional 23,266 shares in the last quarter. FMR LLC grew its holdings in shares of Ally Financial by 736.9% during the first 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 in the last quarter. Teachers Advisors LLC grew its holdings in shares of Ally Financial by 6.0% during the first quarter. Teachers Advisors LLC now owns 565,704 shares of the financial services provider’s stock worth $11,501,000 after purchasing an additional 32,168 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of Ally Financial by 46.7% during the first quarter. Global X Management Co. LLC now owns 11,495 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 3,661 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Ally Financial by 1,072.5% during the first 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 in the last quarter. Institutional investors and hedge funds own 98.57% of the company’s stock.
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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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