Ally Financial Inc (ALLY) Expected to Post Earnings of $0.79 Per Share

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Wall Street analysts forecast that Ally Financial Inc (NYSE:ALLY) will announce $0.79 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made 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 posted earnings per share of $0.65 during the same quarter last year, which would indicate a positive year-over-year growth rate of 21.5%. The company is expected to issue its next quarterly earnings report on Wednesday, October 24th.

On average, analysts expect that Ally Financial will report full year earnings of $3.10 per share for the current fiscal year, with EPS estimates ranging from $3.03 to $3.18. For the next fiscal year, analysts expect that the firm will post earnings of $3.54 per share, with EPS estimates ranging from $3.30 to $3.73. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Ally Financial.

Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, July 26th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.12. Ally Financial had a net margin of 15.62% and a return on equity of 9.45%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the company earned $0.55 earnings per share.

Several research firms recently issued reports on ALLY. Zacks Investment Research cut shares of Ally Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Bank of America raised shares of Ally Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $33.00 to $35.00 in a research report on Monday, July 30th. Stephens reissued a “hold” rating and issued a $32.00 target price on shares of Ally Financial in a research report on Friday, July 27th. TheStreet raised shares of Ally Financial from a “c+” rating to a “b-” rating in a research report on Thursday, July 19th. Finally, Janney Montgomery Scott raised shares of Ally Financial from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Friday, June 29th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.75.

Shares of ALLY traded down $0.04 during mid-day trading on Wednesday, hitting $27.54. The company had a trading volume of 6,143,072 shares, compared to its average volume of 2,610,675. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.21 and a current ratio of 1.21. Ally Financial has a 1-year low of $22.97 and a 1-year high of $31.29. The stock has a market capitalization of $11.64 billion, a PE ratio of 11.52, a P/E/G ratio of 0.70 and a beta of 1.34.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Ally Financial by 8.8% in the second quarter. BlackRock Inc. now owns 26,537,339 shares of the financial services provider’s stock valued at $697,136,000 after buying an additional 2,148,484 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Ally Financial by 8.4% during the second quarter. Canada Pension Plan Investment Board now owns 9,020,275 shares of the financial services provider’s stock valued at $236,963,000 after purchasing an additional 700,000 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Ally Financial by 12.0% during the first quarter. Allianz Asset Management GmbH now owns 7,378,519 shares of the financial services provider’s stock valued at $200,327,000 after purchasing an additional 787,975 shares during the period. LSV Asset Management raised its stake in shares of Ally Financial by 32.6% during the second quarter. LSV Asset Management now owns 4,152,079 shares of the financial services provider’s stock valued at $109,075,000 after purchasing an additional 1,021,238 shares during the period. Finally, Platinum Investment Management Ltd. raised its stake in shares of Ally Financial by 26.5% during the first quarter. Platinum Investment Management Ltd. now owns 3,977,100 shares of the financial services provider’s stock valued at $107,978,000 after purchasing an additional 834,200 shares during the period. Hedge funds and other institutional investors own 98.97% of the company’s stock.

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

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