Analysts Anticipate Ally Financial Inc. (NYSE:ALLY) Will Announce Quarterly Sales of $2.22 Billion

Equities analysts expect Ally Financial Inc. (NYSE:ALLY – Get Rating) to post sales of $2.22 billion for the current quarter, according to Zacks. Six analysts have issued estimates for Ally Financial’s earnings, with the lowest sales estimate coming in at $2.17 billion and the highest estimate coming in at $2.29 billion. Ally Financial reported sales of $2.09 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 6.2%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Ally Financial will report full-year sales of $8.82 billion for the current year, with estimates ranging from $8.36 billion to $9.04 billion. For the next fiscal year, analysts forecast that the firm will post sales of $9.16 billion, with estimates ranging from $8.61 billion to $9.41 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Ally Financial.

Ally Financial (NYSE:ALLY – Get Rating) last issued its earnings results on Thursday, April 14th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.10. Ally Financial had a net margin of 34.73% and a return on equity of 21.56%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the business posted $2.09 EPS. Ally Financial’s revenue was up 10.2% on a year-over-year basis.

Several brokerages have issued reports on ALLY. Piper Sandler cut their price objective on shares of Ally Financial from $54.00 to $47.00 and set a “neutral” rating for the company in a research report on Monday, April 18th. Credit Suisse Group lifted their price target on shares of Ally Financial from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, January 24th. Wells Fargo & Company dropped their price target on shares of Ally Financial from $57.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, April 18th. Raymond James dropped their price target on shares of Ally Financial from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, April 18th. Finally, Morgan Stanley dropped their price target on shares of Ally Financial from $73.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, March 28th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Ally Financial has an average rating of “Buy” and an average price target of $59.92.

ALLY stock traded up $1.43 during mid-day trading on Wednesday, hitting $39.58. 3,019,424 shares of the company were exchanged, compared to its average volume of 4,398,085. The business has a 50 day simple moving average of $42.54 and a 200-day simple moving average of $46.43. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $12.79 billion, a PE ratio of 4.98, a price-to-earnings-growth ratio of 0.15 and a beta of 1.32. Ally Financial has a 1-year low of $37.05 and a 1-year high of $56.61.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Monday, May 2nd will be issued a $0.30 dividend. The ex-dividend date is Friday, April 29th. This represents a $1.20 annualized dividend and a yield of 3.03%. Ally Financial’s payout ratio is 15.09%.

In related news, insider Jason E. Schugel sold 2,500 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $49.21, for a total value of $123,025.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Ally Financial during the fourth quarter worth about $168,454,000. Epoch Investment Partners Inc. increased its position in shares of Ally Financial by 852.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 2,192,987 shares of the financial services provider’s stock worth $104,409,000 after acquiring an additional 1,962,795 shares in the last quarter. Marshall Wace LLP increased its position in shares of Ally Financial by 2,563.1% during the fourth quarter. Marshall Wace LLP now owns 1,938,491 shares of the financial services provider’s stock worth $92,291,000 after acquiring an additional 1,865,701 shares in the last quarter. Luxor Capital Group LP increased its position in shares of Ally Financial by 121.9% during the fourth quarter. Luxor Capital Group LP now owns 3,193,608 shares of the financial services provider’s stock worth $152,048,000 after acquiring an additional 1,754,694 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Ally Financial by 42.1% during the fourth quarter. First Trust Advisors LP now owns 4,171,050 shares of the financial services provider’s stock worth $198,584,000 after acquiring an additional 1,236,136 shares in the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.

About Ally Financial (Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

Featured Articles