Zacks: Analysts Anticipate Ally Financial Inc. (NYSE:ALLY) Will Post Quarterly Sales of $2.01 Billion

Wall Street analysts expect Ally Financial Inc. (NYSE:ALLY) to report $2.01 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Ally Financial’s earnings. The lowest sales estimate is $1.91 billion and the highest is $2.18 billion. Ally Financial reported sales of $1.68 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 19.6%. The firm is expected to issue its next earnings results on Friday, October 15th.

According to Zacks, analysts expect that Ally Financial will report full year sales of $8.02 billion for the current year, with estimates ranging from $7.86 billion to $8.40 billion. For the next financial year, analysts anticipate that the company will report sales of $8.40 billion, with estimates ranging from $7.63 billion to $8.95 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Ally Financial.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Monday, July 19th. The financial services provider reported $2.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.88. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Ally Financial had a net margin of 37.19% and a return on equity of 18.66%. During the same period in the prior year, the company posted $0.61 EPS.

Several research firms have recently weighed in on ALLY. Barclays raised their price objective on shares of Ally Financial from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 21st. BMO Capital Markets began coverage on shares of Ally Financial in a research report on Tuesday, July 6th. They issued a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research lowered shares of Ally Financial from a “strong-buy” rating to a “hold” rating and set a $56.00 price objective for the company. in a research report on Thursday, May 27th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Ally Financial from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 21st. Finally, Morgan Stanley lifted their target price on shares of Ally Financial from $64.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Ally Financial presently has an average rating of “Buy” and a consensus price target of $55.06.

In other Ally Financial news, General Counsel Scott A. Stengel sold 12,500 shares of the stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $52.49, for a total transaction of $656,125.00. Following the completion of the sale, the general counsel now directly owns 96,517 shares of the company’s stock, valued at approximately $5,066,177.33. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason E. Schugel sold 2,500 shares of the stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $50.00, for a total transaction of $125,000.00. Following the sale, the insider now directly owns 224,190 shares of the company’s stock, valued at $11,209,500. The disclosure for this sale can be found here. Insiders sold a total of 39,958 shares of company stock valued at $2,088,983 over the last three months. 0.46% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ALLY. Wealthcare Advisory Partners LLC purchased a new stake in Ally Financial in the first quarter worth $25,000. Concord Wealth Partners purchased a new stake in Ally Financial in the first quarter worth $29,000. NEXT Financial Group Inc increased its stake in Ally Financial by 123.8% in the second quarter. NEXT Financial Group Inc now owns 611 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 338 shares during the period. Liberty Wealth Management LLC increased its stake in Ally Financial by 4,925.8% in the second quarter. Liberty Wealth Management LLC now owns 1,558 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 1,527 shares during the period. Finally, Van ECK Associates Corp increased its stake in Ally Financial by 134.7% in the second quarter. Van ECK Associates Corp now owns 676 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 388 shares during the period. Institutional investors own 92.48% of the company’s stock.

NYSE ALLY traded down $0.09 during trading hours on Monday, reaching $52.47. 5,592,863 shares of the company were exchanged, compared to its average volume of 2,811,700. Ally Financial has a 1 year low of $22.81 and a 1 year high of $56.61. The business’s 50 day simple moving average is $51.84 and its 200-day simple moving average is $50.45. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $18.92 billion, a P/E ratio of 6.90 and a beta of 1.60.

The company also recently announced a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Monday, August 2nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.91%. This is a positive change from Ally Financial’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, July 30th. Ally Financial’s dividend payout ratio is currently 33.00%.

About Ally Financial

Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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

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