$1.46 Billion in Sales Expected for Ally Financial Inc (NYSE:ALLY) This Quarter

Brokerages expect Ally Financial Inc (NYSE:ALLY) to announce $1.46 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Ally Financial’s earnings. The lowest sales estimate is $1.40 billion and the highest is $1.54 billion. Ally Financial reported sales of $1.60 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 8.8%. The business is scheduled to issue its next earnings results on Wednesday, October 21st.

On average, analysts expect that Ally Financial will report full year sales of $6.05 billion for the current fiscal year, with estimates ranging from $5.88 billion to $6.19 billion. For the next fiscal year, analysts expect that the company will report sales of $6.36 billion, with estimates ranging from $5.82 billion to $6.60 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Ally Financial.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.30. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.47 billion. Ally Financial had a net margin of 10.87% and a return on equity of 5.82%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS.

A number of brokerages recently weighed in on ALLY. BTIG Research downgraded shares of Ally Financial from a “buy” rating to a “neutral” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. raised shares of Ally Financial from a “neutral” rating to an “overweight” rating and set a $23.50 price objective on the stock in a report on Wednesday, July 15th. Barclays reaffirmed a “hold” rating and set a $23.00 price objective on shares of Ally Financial in a report on Thursday, April 9th. Janney Montgomery Scott reaffirmed a “fair value” rating and set a $29.00 price objective on shares of Ally Financial in a report on Thursday, June 25th. Finally, BMO Capital Markets raised shares of Ally Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $25.00 to $30.00 in a report on Thursday, May 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $26.62.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings 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 worth $49,521,000 after buying an additional 1,015,634 shares during the period. Stifel Financial Corp lifted its holdings in shares of Ally Financial by 5.1% in the 4th quarter. Stifel Financial Corp now owns 41,191 shares of the financial services provider’s stock worth $1,256,000 after buying an additional 1,997 shares during the period. Pearl River Capital LLC lifted its stake in shares of Ally Financial by 473.0% during the 4th quarter. Pearl River Capital LLC now owns 31,764 shares of the financial services provider’s stock worth $971,000 after purchasing an additional 26,221 shares during the last quarter. Macquarie Group Ltd. raised its stake in Ally Financial by 27.6% in the fourth quarter. Macquarie Group Ltd. now owns 113,804 shares of the financial services provider’s stock valued at $3,477,000 after buying an additional 24,617 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Ally Financial in the fourth quarter valued at about $602,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

Shares of NYSE:ALLY traded down $0.42 during midday trading on Tuesday, reaching $20.10. The company had a trading volume of 3,942,274 shares, compared to its average volume of 4,988,691. The company’s 50 day moving average price is $20.19 and its 200 day moving average price is $21.21. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 2.30. The stock has a market cap of $7.50 billion, a P/E ratio of 11.49 and a beta of 1.62. Ally Financial has a 52-week low of $10.22 and a 52-week high of $35.42.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, July 30th. Ally Financial’s payout ratio is currently 20.43%.

About Ally Financial

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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