Analysts Anticipate Ally Financial Inc (NYSE:ALLY) to Post $0.97 Earnings Per Share

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Brokerages expect Ally Financial Inc (NYSE:ALLY) to post earnings of $0.97 per share for the current quarter, Zacks reports. Six analysts have provided estimates for Ally Financial’s earnings. The highest EPS estimate is $1.01 and the lowest is $0.92. Ally Financial reported earnings per share of $0.91 in the same quarter last year, which indicates a positive year over year growth rate of 6.6%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, October 16th.

On average, analysts expect that Ally Financial will report full year earnings of $3.76 per share for the current financial year, with EPS estimates ranging from $3.62 to $3.93. For the next fiscal year, analysts forecast that the business will post earnings of $4.30 per share, with EPS estimates ranging from $4.05 to $4.77. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Ally Financial.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.09. Ally Financial had a return on equity of 10.89% and a net margin of 26.59%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $0.83 earnings per share. Ally Financial’s revenue for the quarter was down 2.9% on a year-over-year basis.

ALLY has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on Ally Financial from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. cut Ally Financial from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $33.00 in a report on Tuesday. Barclays raised their price target on Ally Financial from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Wells Fargo & Co reissued a “buy” rating on shares of Ally Financial in a report on Sunday, July 21st. Finally, BTIG Research raised their price target on Ally Financial to $39.00 and gave the company a “buy” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Ally Financial currently has an average rating of “Hold” and an average price target of $36.67.

Ally Financial stock opened at $30.12 on Friday. The stock has a market capitalization of $12.42 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 0.62 and a beta of 1.30. Ally Financial has a 12 month low of $20.60 and a 12 month high of $35.42. The business has a 50 day simple moving average of $32.52 and a 200-day simple moving average of $30.76. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.07 and a quick ratio of 1.07.

In other news, insider Diane E. Morais sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $33.35, for a total transaction of $500,250.00. Following the completion of the transaction, the insider now directly owns 220,048 shares in the company, valued at $7,338,600.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO David J. Debrunner sold 2,222 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $33.43, for a total value of $74,281.46. Following the completion of the sale, the chief accounting officer now owns 99,091 shares of the company’s stock, valued at $3,312,612.13. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock valued at $716,806 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Scout Investments Inc. acquired a new stake in Ally Financial in the third quarter worth approximately $30,280,000. First Hawaiian Bank lifted its position in Ally Financial by 110.9% in the third quarter. First Hawaiian Bank now owns 47,248 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 24,850 shares during the period. State of Alaska Department of Revenue lifted its position in Ally Financial by 97.0% in the third quarter. State of Alaska Department of Revenue now owns 146,999 shares of the financial services provider’s stock worth $4,874,000 after purchasing an additional 72,388 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Ally Financial by 47.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 168,100 shares of the financial services provider’s stock worth $5,209,000 after purchasing an additional 54,400 shares during the period. Finally, Hancock Whitney Corp lifted its position in Ally Financial by 41.3% in the second quarter. Hancock Whitney Corp now owns 239,172 shares of the financial services provider’s stock worth $7,412,000 after purchasing an additional 69,926 shares during the period. Hedge funds and other institutional investors own 95.51% of the company’s stock.

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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