Ally Financial Inc to Post Q2 2020 Earnings of $0.94 Per Share, Piper Sandler Forecasts (NYSE:ALLY)

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Ally Financial Inc (NYSE:ALLY) – Analysts at Piper Sandler lowered their Q2 2020 earnings estimates for shares of Ally Financial in a research report issued to clients and investors on Wednesday, January 22nd. Piper Sandler analyst K. Barker now anticipates that the financial services provider will earn $0.94 per share for the quarter, down from their previous forecast of $0.96. Piper Sandler also issued estimates for Ally Financial’s Q1 2021 earnings at $1.05 EPS, Q2 2021 earnings at $1.14 EPS, Q3 2021 earnings at $1.28 EPS, Q4 2021 earnings at $1.38 EPS and FY2021 earnings at $4.85 EPS.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Ally Financial had a net margin of 26.82% and a return on equity of 10.40%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share.

Several other research firms have also issued reports on ALLY. ValuEngine raised shares of Ally Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, January 18th. Barclays reiterated a “buy” rating and set a $45.00 price target on shares of Ally Financial in a research note on Tuesday, January 7th. Nomura boosted their price target on shares of Ally Financial from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. downgraded shares of Ally Financial from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $35.00 to $33.00 in a research note on Tuesday, October 8th. Finally, Citigroup decreased their price objective on shares of Ally Financial from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.15.

NYSE:ALLY opened at $32.70 on Friday. The stock has a market capitalization of $12.28 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 0.61 and a beta of 1.27. Ally Financial has a 52 week low of $25.31 and a 52 week high of $35.42. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 2.47. The firm has a 50 day moving average of $30.84 and a 200 day moving average of $31.67.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This is a positive change from Ally Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 2.32%. Ally Financial’s dividend payout ratio (DPR) is currently 18.28%.

In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $30.90, for a total value of $68,659.80. Following the completion of the sale, the chief accounting officer now directly owns 96,869 shares in the company, valued at $2,993,252.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Exane Derivatives purchased a new stake in Ally Financial during the fourth quarter valued at about $30,000. Usca Ria LLC acquired a new position in shares of Ally Financial in the 3rd quarter valued at $32,000. Liberty Wealth Management LLC bought a new position in shares of Ally Financial in the 3rd quarter worth $37,000. Huntington National Bank boosted its position in shares of Ally Financial by 1,287.2% in the 4th quarter. Huntington National Bank now owns 2,053 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 1,905 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Ally Financial by 28.2% during the third quarter. Parallel Advisors LLC now owns 2,507 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 551 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

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

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