Wall Street analysts expect Ally Financial Inc (NYSE:ALLY) to report $1.53 billion in sales for the current quarter, according to Zacks. Six analysts have made estimates for Ally Financial’s earnings, with the lowest sales estimate coming in at $1.48 billion and the highest estimate coming in at $1.55 billion. Ally Financial posted sales of $1.46 billion in the same quarter last year, which would indicate a positive year over year growth rate of 4.8%. The business is expected to announce its next earnings report before the market opens on Thursday, July 18th.
According to Zacks, analysts expect that Ally Financial will report full year sales of $6.25 billion for the current fiscal year, with estimates ranging from $6.15 billion to $6.40 billion. For the next year, analysts anticipate that the firm will report sales of $6.47 billion, with estimates ranging from $6.22 billion to $6.67 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Ally Financial.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Ally Financial had a return on equity of 10.90% and a net margin of 23.12%. Ally Financial’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS.
ALLY has been the topic of a number of research reports. Sandler O’Neill raised Ally Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $29.00 to $33.00 in a report on Tuesday, February 26th. They noted that the move was a valuation call. Zacks Investment Research raised Ally Financial from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Thursday, April 11th. Oppenheimer set a $33.00 price objective on Ally Financial and gave the company a “buy” rating in a report on Wednesday, April 17th. Morgan Stanley raised their price target on Ally Financial from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets raised their price target on Ally Financial to $39.00 and gave the stock a “market perform” rating in a research report on Monday, April 22nd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $32.92.
Shares of NYSE ALLY opened at $29.32 on Thursday. The stock has a market cap of $11.87 billion, a P/E ratio of 8.78, a PEG ratio of 0.59 and a beta of 1.32. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.11 and a current ratio of 1.11. Ally Financial has a 1-year low of $20.60 and a 1-year high of $30.27.
Ally Financial declared that its board has initiated a stock repurchase program on Monday, April 1st that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 10.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, April 30th. This represents a $0.68 annualized dividend and a yield of 2.32%. Ally Financial’s payout ratio is 20.36%.
In related news, CAO David J. Debrunner sold 2,222 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.80, for a total transaction of $63,993.60. Following the transaction, the chief accounting officer now directly owns 107,979 shares in the company, valued at approximately $3,109,795.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mayree C. Clark purchased 5,000 shares of Ally Financial stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average price of $29.71 per share, for a total transaction of $148,550.00. Following the completion of the transaction, the director now owns 46,248 shares in the company, valued at $1,374,028.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 6,666 shares of company stock worth $191,825. 0.35% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Assetmark Inc. grew its position in shares of Ally Financial by 0.7% in the 1st quarter. Assetmark Inc. now owns 57,185 shares of the financial services provider’s stock worth $1,572,000 after buying an additional 381 shares during the last quarter. LaSalle Street Capital Management LLC grew its position in shares of Ally Financial by 0.6% in the 4th quarter. LaSalle Street Capital Management LLC now owns 66,608 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 392 shares during the last quarter. M&T Bank Corp grew its position in shares of Ally Financial by 4.0% in the 1st quarter. M&T Bank Corp now owns 11,227 shares of the financial services provider’s stock worth $309,000 after buying an additional 430 shares during the last quarter. Saturna Capital CORP grew its position in shares of Ally Financial by 1.1% in the 4th quarter. Saturna Capital CORP now owns 45,125 shares of the financial services provider’s stock worth $1,023,000 after buying an additional 500 shares during the last quarter. Finally, Standard Life Aberdeen plc grew its position in shares of Ally Financial by 0.5% in the 4th quarter. Standard Life Aberdeen plc now owns 148,501 shares of the financial services provider’s stock worth $3,321,000 after buying an additional 684 shares during the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.
About Ally Financial
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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