Ally Financial Inc. (NYSE:ALLY) Expected to Post Earnings of $1.59 Per Share

Brokerages expect that Ally Financial Inc. (NYSE:ALLY) will post $1.59 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Ally Financial’s earnings, with the highest EPS estimate coming in at $2.03 and the lowest estimate coming in at $1.40. Ally Financial posted earnings of $1.25 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 27.2%. The business is scheduled to issue its next quarterly earnings results on Friday, October 15th.

According to Zacks, analysts expect that Ally Financial will report full year earnings of $6.55 per share for the current financial year, with EPS estimates ranging from $6.14 to $6.91. For the next fiscal year, analysts anticipate that the firm will report earnings of $6.32 per share, with EPS estimates ranging from $5.33 to $7.04. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Ally Financial.

Ally Financial (NYSE:ALLY) last released its earnings results on Monday, July 19th. The financial services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.88. Ally Financial had a return on equity of 18.89% and a net margin of 37.19%. During the same period last year, the firm posted $0.61 earnings per share.

ALLY has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Ally Financial from a “strong-buy” rating to a “hold” rating and set a $56.00 price target for the company. in a research report on Thursday, May 27th. Bank of America started coverage on Ally Financial in a research report on Monday, April 12th. They issued a “buy” rating and a $64.00 target price for the company. Barclays upped their price target on Ally Financial from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday. Evercore ISI initiated coverage on Ally Financial in a research note on Wednesday, April 14th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their target price on Ally Financial from $48.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, April 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Ally Financial presently has a consensus rating of “Buy” and a consensus price target of $53.17.

ALLY traded down $0.21 during midday trading on Thursday, reaching $52.31. 115,763 shares of the company’s stock traded hands, compared to its average volume of 3,316,323. The firm has a fifty day moving average price of $52.23. The company has a market cap of $19.39 billion, a PE ratio of 6.91 and a beta of 1.59. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.40. Ally Financial has a 52 week low of $19.86 and a 52 week high of $56.61.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 16th. Stockholders of record on Monday, August 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, July 30th. This is an increase from Ally Financial’s previous quarterly dividend of $0.19. Ally Financial’s payout ratio is currently 25.08%.

In other news, insider Jason E. Schugel sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $55.30, for a total transaction of $138,250.00. Following the sale, the insider now directly owns 146,856 shares of the company’s stock, valued at $8,121,136.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jennifer A. Laclair sold 3,334 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $50.00, for a total transaction of $166,700.00. Following the sale, the chief financial officer now directly owns 102,101 shares in the company, valued at $5,105,050. The disclosure for this sale can be found here. Insiders have sold 29,584 shares of company stock valued at $1,580,122 in the last ninety days. Insiders own 0.46% of the company’s stock.

Several institutional investors have recently modified their holdings of ALLY. Wealthcare Advisory Partners LLC acquired a new position in shares of Ally Financial in the first quarter worth about $25,000. Concord Wealth Partners acquired a new position in shares of Ally Financial during the 1st quarter worth about $29,000. Penserra Capital Management LLC raised its position in shares of Ally Financial by 60.6% during the 4th quarter. Penserra Capital Management LLC now owns 983 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 371 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Ally Financial during the 4th quarter worth about $34,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ally Financial during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 94.08% of the company’s stock.

About Ally Financial

Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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Earnings History and Estimates for Ally Financial (NYSE:ALLY)

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