Ally Financial Inc. (NYSE:ALLY - Free Report) - Investment analysts at Zacks Research reduced their Q2 2024 earnings estimates for Ally Financial in a note issued to investors on Thursday, May 9th. Zacks Research analyst N. Kataruka now forecasts that the financial services provider will post earnings of $0.47 per share for the quarter, down from their prior forecast of $0.60. The consensus estimate for Ally Financial's current full-year earnings is $2.99 per share. Zacks Research also issued estimates for Ally Financial's Q4 2024 earnings at $0.84 EPS, Q1 2026 earnings at $1.41 EPS and FY2026 earnings at $7.12 EPS.
Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the business earned $0.82 earnings per share. Ally Financial's quarterly revenue was down 5.4% on a year-over-year basis.
A number of other equities research analysts also recently weighed in on ALLY. TD Cowen boosted their price target on shares of Ally Financial from $42.00 to $43.00 and gave the stock a "hold" rating in a research note on Friday, April 19th. Bank of America raised shares of Ally Financial from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $42.00 to $46.00 in a research note on Tuesday, April 9th. TheStreet raised shares of Ally Financial from a "c+" rating to a "b-" rating in a research note on Thursday, January 11th. BMO Capital Markets boosted their price target on shares of Ally Financial from $36.00 to $37.00 and gave the stock a "market perform" rating in a research note on Friday, April 19th. Finally, StockNews.com raised shares of Ally Financial from a "sell" rating to a "hold" rating in a research note on Friday, April 26th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ally Financial presently has a consensus rating of "Hold" and an average price target of $38.47.
View Our Latest Research Report on Ally Financial
Ally Financial Price Performance
Shares of ALLY stock traded down $0.35 during trading hours on Friday, reaching $39.40. 1,334,046 shares of the company were exchanged, compared to its average volume of 3,805,226. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $41.56. The stock's fifty day moving average is $38.59 and its two-hundred day moving average is $34.41. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.57 and a beta of 1.39. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.92.
Hedge Funds Weigh In On Ally Financial
Institutional investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. boosted its stake in shares of Ally Financial by 22.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 2,752,830 shares of the financial services provider's stock worth $96,129,000 after acquiring an additional 495,584 shares during the period. Northern Trust Corp boosted its stake in Ally Financial by 34.2% in the 3rd quarter. Northern Trust Corp now owns 3,122,515 shares of the financial services provider's stock valued at $83,309,000 after purchasing an additional 795,754 shares during the period. Private Management Group Inc. boosted its stake in Ally Financial by 9.4% in the 3rd quarter. Private Management Group Inc. now owns 819,136 shares of the financial services provider's stock valued at $21,855,000 after purchasing an additional 70,615 shares during the period. ING Groep NV bought a new stake in Ally Financial in the 3rd quarter valued at $4,336,000. Finally, Los Angeles Capital Management LLC bought a new stake in Ally Financial in the 4th quarter valued at $2,019,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.
Ally Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.05%. Ally Financial's dividend payout ratio is 48.98%.
About Ally Financial
(
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Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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