Brokerages Expect Ally Financial Inc (NYSE:ALLY) Will Announce Earnings of $0.88 Per Share

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Equities analysts predict that Ally Financial Inc (NYSE:ALLY) will announce $0.88 earnings per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Ally Financial’s earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.80. Ally Financial reported earnings of $0.83 per share in the same quarter last year, which indicates a positive year over year growth rate of 6%. The firm is expected to report its next earnings results before the market opens on Thursday, July 18th.

According to Zacks, analysts expect that Ally Financial will report full-year earnings of $3.62 per share for the current year, with EPS estimates ranging from $3.44 to $3.80. For the next year, analysts anticipate that the business will report earnings of $4.04 per share, with EPS estimates ranging from $3.88 to $4.32. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Ally Financial.

Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.01. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.53 billion. Ally Financial had a net margin of 23.12% and a return on equity of 10.90%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share.

ALLY has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Morgan Stanley upped their price objective on shares of Ally Financial from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Sandler O’Neill upgraded shares of Ally Financial from a “hold” rating to a “buy” rating and upped 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. BMO Capital Markets upped their price objective on shares of Ally Financial to $39.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. Finally, Oppenheimer set a $33.00 price objective on shares of Ally Financial and gave the company a “buy” rating in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Ally Financial has a consensus rating of “Buy” and an average price target of $32.92.

In other news, Director Mayree C. Clark bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased 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 directly owns 46,248 shares in the company, valued at $1,374,028.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO David J. Debrunner sold 2,222 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $27.73, for a total value of $61,616.06. Following the completion of the sale, the chief accounting officer now owns 112,423 shares in the company, valued at approximately $3,117,489.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,666 shares of company stock worth $191,825. 0.35% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Ally Financial by 1.2% in the 4th quarter. BlackRock Inc. now owns 27,716,879 shares of the financial services provider’s stock worth $628,066,000 after purchasing an additional 333,971 shares in the last quarter. Oaktree Capital Management LP boosted its position in Ally Financial by 34.6% in the 4th quarter. Oaktree Capital Management LP now owns 11,723,541 shares of the financial services provider’s stock worth $265,655,000 after purchasing an additional 3,011,141 shares in the last quarter. Lakewood Capital Management LP boosted its position in Ally Financial by 20.3% in the 4th quarter. Lakewood Capital Management LP now owns 10,864,809 shares of the financial services provider’s stock worth $246,197,000 after purchasing an additional 1,829,956 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Ally Financial by 4.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,326,355 shares of the financial services provider’s stock worth $228,892,000 after purchasing an additional 346,987 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Ally Financial by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,022,630 shares of the financial services provider’s stock worth $159,132,000 after purchasing an additional 39,461 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Shares of Ally Financial stock opened at $29.44 on Tuesday. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 0.59 and a beta of 1.32. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.03. Ally Financial has a one year low of $20.60 and a one year high of $30.27.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, April 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.31%. Ally Financial’s dividend payout ratio (DPR) is currently 20.36%.

Ally Financial announced that its Board of Directors has approved a share buyback plan on Monday, April 1st that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 10.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Ally Financial Company Profile

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

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