Ally Financial Inc. (NYSE:ALLY) to Post Q3 2024 Earnings of $0.80 Per Share, Zacks Research Forecasts

Ally Financial Inc. (NYSE:ALLYFree Report) – Investment analysts at Zacks Research boosted their Q3 2024 earnings estimates for shares of Ally Financial in a report released on Thursday, May 9th. Zacks Research analyst N. Kataruka now expects that the financial services provider will post earnings of $0.80 per share for the quarter, up from their previous forecast of $0.77. The consensus estimate for Ally Financial’s current full-year earnings is $3.00 per share. Zacks Research also issued estimates for Ally Financial’s FY2024 earnings at $2.55 EPS, Q1 2025 earnings at $0.90 EPS, Q2 2025 earnings at $1.09 EPS, Q3 2025 earnings at $1.14 EPS, Q4 2025 earnings at $1.13 EPS and FY2025 earnings at $4.26 EPS.

Ally Financial (NYSE:ALLYGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was down 5.4% on a year-over-year basis.

Several other equities research analysts have also recently weighed in on the stock. Evercore ISI upped their price objective on shares of Ally Financial from $41.00 to $43.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Morgan Stanley upgraded shares of Ally Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $37.00 to $47.00 in a research report on Thursday, February 8th. TD Cowen boosted their price objective on shares of Ally Financial from $42.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Compass Point raised their target price on Ally Financial from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price target on shares of Ally Financial in a report on Monday, January 22nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Ally Financial presently has an average rating of “Hold” and an average target price of $38.47.

Read Our Latest Stock Report on ALLY

Ally Financial Stock Performance

NYSE:ALLY opened at $40.78 on Monday. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 0.48 and a beta of 1.39. The stock has a fifty day moving average price of $38.65 and a 200-day moving average price of $34.68. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $41.56. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.92 and a current ratio of 0.92.

Institutional Investors Weigh In On Ally Financial

Institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank lifted its stake in shares of Ally Financial by 54.0% in the first quarter. Toronto Dominion Bank now owns 54,310 shares of the financial services provider’s stock worth $2,204,000 after acquiring an additional 19,050 shares during the period. Delta Global Management LP lifted its position in shares of Ally Financial by 3,262.3% in the 1st quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock worth $42,051,000 after purchasing an additional 1,005,182 shares during the period. Shell Asset Management Co. boosted its stake in shares of Ally Financial by 25.0% in the 1st quarter. Shell Asset Management Co. now owns 40,167 shares of the financial services provider’s stock valued at $1,630,000 after purchasing an additional 8,046 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Ally Financial by 15.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock worth $14,988,000 after buying an additional 49,539 shares during the period. Finally, UniSuper Management Pty Ltd raised its stake in Ally Financial by 85.7% during the first quarter. UniSuper Management Pty Ltd now owns 3,900 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 88.76% of the company’s stock.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio is currently 48.98%.

Ally Financial Company Profile

(Get Free Report)

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

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