$1.80 Billion in Sales Expected for Ally Financial Inc. (NYSE:ALLY) This Quarter

Wall Street brokerages expect Ally Financial Inc. (NYSE:ALLY) to report sales of $1.80 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ally Financial’s earnings, with the lowest sales estimate coming in at $1.73 billion and the highest estimate coming in at $1.90 billion. Ally Financial posted sales of $1.61 billion during the same quarter last year, which would indicate a positive year over year growth rate of 11.8%. The company is scheduled to announce its next quarterly earnings results on Friday, April 16th.

On average, analysts expect that Ally Financial will report full-year sales of $7.26 billion for the current fiscal year, with estimates ranging from $7.00 billion to $7.54 billion. For the next financial year, analysts anticipate that the firm will report sales of $7.62 billion, with estimates ranging from $7.05 billion to $7.95 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Ally Financial.

Ally Financial (NYSE:ALLY) last issued its earnings results on Thursday, April 15th. The financial services provider reported $2.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.91. Ally Financial had a net margin of 12.22% and a return on equity of 6.43%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. The business’s quarterly revenue was up 20.2% on a year-over-year basis.

Several equities research analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Ally Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, April 8th. They noted that the move was a valuation call. Morgan Stanley increased their price objective on shares of Ally Financial from $56.00 to $59.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Ally Financial from $48.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday. They noted that the move was a valuation call. Janney Montgomery Scott increased their target price on shares of Ally Financial from $40.00 to $45.00 in a report on Wednesday, January 13th. Finally, Wells Fargo & Company increased their target price on shares of Ally Financial from $51.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, April 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. Ally Financial currently has a consensus rating of “Buy” and an average target price of $42.90.

In related news, CEO Jeffrey Jonathan Brown sold 15,000 shares of Ally Financial stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $43.09, for a total transaction of $646,350.00. Following the sale, the chief executive officer now directly owns 680,909 shares in the company, valued at approximately $29,340,368.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Douglas R. Timmerman sold 2,917 shares of the business’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $47.38, for a total transaction of $138,207.46. Following the completion of the transaction, the insider now owns 153,161 shares in the company, valued at approximately $7,256,768.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,543 shares of company stock worth $2,496,725. Insiders own 0.36% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC lifted its holdings in Ally Financial by 52.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 760 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 260 shares during the last quarter. Penserra Capital Management LLC grew its position in Ally Financial by 60.6% during the fourth quarter. Penserra Capital Management LLC now owns 983 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 371 shares during the last quarter. Truvestments Capital LLC bought a new position in Ally Financial during the fourth quarter valued at approximately $34,000. Alpha Paradigm Partners LLC bought a new position in Ally Financial during the fourth quarter valued at approximately $44,000. Finally, Leelyn Smith LLC bought a new position in Ally Financial during the fourth quarter valued at approximately $53,000. 92.07% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ALLY traded up $0.38 during trading hours on Wednesday, hitting $48.09. The stock had a trading volume of 4,686,217 shares, compared to its average volume of 4,439,445. Ally Financial has a one year low of $13.29 and a one year high of $49.49. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $17.95 billion, a price-to-earnings ratio of 23.57 and a beta of 1.61. The business’s 50 day moving average is $45.66 and its 200-day moving average is $36.98.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Friday, April 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, April 29th. Ally Financial’s dividend payout ratio is currently 20.43%.

About Ally Financial

Ally Financial Inc, a bank holding company, provides various digital financial products and services to consumer, commercial, 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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