Ally Financial (NYSE:ALLY) Announces Quarterly Earnings Results, Beats Expectations By $0.38 EPS

Ally Financial (NYSE:ALLY) posted its earnings results on Friday. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.38, Briefing.com reports. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. Ally Financial’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS.

Ally Financial Stock Down 2.3 %

Shares of NYSE:ALLY opened at $35.01 on Monday. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $45.46. The firm’s 50 day moving average price is $37.62 and its 200 day moving average price is $39.13. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 0.42 and a beta of 1.39.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, November 1st. Ally Financial’s dividend payout ratio is presently 48.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Bank of America cut their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Royal Bank of Canada decreased their target price on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. Morgan Stanley dropped their price target on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, TD Cowen lowered their price objective on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.63.

Ally Financial Company Profile

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.