Zacks: Analysts Anticipate Ally Financial Inc (ALLY) Will Announce Earnings of $0.80 Per Share

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Wall Street analysts expect Ally Financial Inc (NYSE:ALLY) to announce earnings per share of $0.80 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Ally Financial’s earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.86. Ally Financial reported earnings per share of $0.65 in the same quarter last year, which would suggest a positive year over year growth rate of 23.1%. The company is expected to announce its next earnings results before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that Ally Financial will report full-year earnings of $3.11 per share for the current fiscal year, with EPS estimates ranging from $3.03 to $3.22. For the next fiscal year, analysts forecast that the business will post earnings of $3.58 per share, with EPS estimates ranging from $3.30 to $3.87. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Ally Financial.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.71 by $0.12. Ally Financial had a return on equity of 9.45% and a net margin of 15.62%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share.

ALLY has been the topic of several research analyst reports. Stephens reiterated a “hold” rating and issued a $32.00 price objective on shares of Ally Financial in a research note on Friday, July 27th. Instinet initiated coverage on Ally Financial in a research note on Tuesday, June 19th. They issued a “neutral” rating and a $28.00 price objective on the stock. Nomura initiated coverage on Ally Financial in a research note on Tuesday, June 19th. They issued a “neutral” rating and a $28.00 price objective on the stock. Zacks Investment Research upgraded Ally Financial from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, July 17th. Finally, Bank of America upgraded Ally Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $33.00 to $35.00 in a research report on Monday, July 30th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Ally Financial currently has an average rating of “Buy” and a consensus price target of $32.75.

Ally Financial stock traded up $0.17 during trading on Friday, hitting $26.13. The stock had a trading volume of 3,065,798 shares, compared to its average volume of 3,159,644. Ally Financial has a 1 year low of $23.90 and a 1 year high of $31.29. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 3.60. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.68 and a beta of 1.34.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.60 annualized dividend and a dividend yield of 2.30%. Ally Financial’s dividend payout ratio is currently 25.10%.

Several institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in shares of Ally Financial by 32.7% in the third quarter. Bank of Montreal Can now owns 191,949 shares of the financial services provider’s stock worth $5,077,000 after purchasing an additional 47,333 shares during the period. DNB Asset Management AS increased its holdings in shares of Ally Financial by 5.4% in the third quarter. DNB Asset Management AS now owns 217,900 shares of the financial services provider’s stock worth $5,763,000 after purchasing an additional 11,100 shares during the period. NEXT Financial Group Inc bought a new position in shares of Ally Financial in the third quarter worth $153,000. Northern Trust Corp increased its holdings in shares of Ally Financial by 1.9% in the second quarter. Northern Trust Corp now owns 3,578,476 shares of the financial services provider’s stock worth $94,008,000 after purchasing an additional 66,832 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of Ally Financial by 282.0% in the second quarter. Schroder Investment Management Group now owns 56,037 shares of the financial services provider’s stock worth $1,441,000 after purchasing an additional 41,366 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

About Ally Financial

Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

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