Equities analysts predict that Ally Financial Inc (NYSE:ALLY) will report $1.54 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Ally Financial’s earnings, with estimates ranging from $1.52 billion to $1.58 billion. Ally Financial reported sales of $1.46 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, July 18th.
According to Zacks, analysts expect that Ally Financial will report full-year sales of $6.29 billion for the current fiscal year, with estimates ranging from $6.21 billion to $6.48 billion. For the next year, analysts anticipate that the company will post sales of $6.51 billion, with estimates ranging from $6.22 billion to $6.82 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Ally Financial.
Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. Ally Financial had a return on equity of 10.90% and a net margin of 23.12%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company posted $0.68 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year.
Shares of ALLY traded up $0.54 during midday trading on Friday, hitting $32.22. The company’s stock had a trading volume of 3,451,699 shares, compared to its average volume of 3,599,262. Ally Financial has a one year low of $20.60 and a one year high of $32.35. The company’s fifty day moving average price is $30.10. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $12.58 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.63 and a beta of 1.31.
Ally Financial declared that its Board of Directors has approved a stock buyback program on Monday, April 1st that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 10.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of Ally Financial stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.80, for a total transaction of $63,993.60. Following the transaction, the chief accounting officer now directly owns 107,979 shares of the company’s stock, valued at approximately $3,109,795.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mayree C. Clark bought 5,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $29.71 per share, for a total transaction of $148,550.00. Following the completion of the acquisition, the director now directly owns 46,248 shares in the company, valued at approximately $1,374,028.08. The disclosure for this purchase can be found here. Insiders have sold a total of 6,666 shares of company stock worth $199,802 over the last ninety days. Company insiders own 0.35% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ALLY. Norges Bank acquired a new position in Ally Financial during the 4th quarter worth about $109,098,000. Oaktree Capital Management LP lifted its stake in shares of 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 valued at $265,655,000 after purchasing an additional 3,011,141 shares during the period. Lakewood Capital Management LP lifted its stake in shares of 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 valued at $246,197,000 after purchasing an additional 1,829,956 shares during the period. Magnolia Group LLC lifted its stake in shares of Ally Financial by 30.5% in the 1st quarter. Magnolia Group LLC now owns 5,626,671 shares of the financial services provider’s stock valued at $154,677,000 after purchasing an additional 1,315,199 shares during the period. Finally, FMR LLC lifted its stake in shares of Ally Financial by 129.3% in the 1st quarter. FMR LLC now owns 1,801,409 shares of the financial services provider’s stock valued at $49,521,000 after purchasing an additional 1,015,634 shares during the period. 97.02% of the stock is currently owned by hedge funds and other institutional investors.
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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