Ally Financial Inc. (NYSE:ALLY) to Post FY2020 Earnings of $2.47 Per Share, Piper Sandler Forecasts


Share on StockTwits

Ally Financial Inc. (NYSE:ALLY) – Piper Sandler lifted their FY2020 earnings per share estimates for shares of Ally Financial in a research report issued to clients and investors on Tuesday, January 12th. Piper Sandler analyst K. Barker now forecasts that the financial services provider will post earnings of $2.47 per share for the year, up from their prior estimate of $2.43. Piper Sandler currently has a “Overweight” rating and a $34.00 target price on the stock. Piper Sandler also issued estimates for Ally Financial’s Q4 2020 earnings at $1.06 EPS, Q1 2021 earnings at $0.91 EPS, Q2 2021 earnings at $1.18 EPS, Q1 2022 earnings at $1.13 EPS, Q2 2022 earnings at $1.36 EPS, Q3 2022 earnings at $1.35 EPS and FY2022 earnings at $5.11 EPS.

Several other equities research analysts have also recently commented on ALLY. Barclays raised Ally Financial from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research note on Monday, January 4th. ValuEngine lowered shares of Ally Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, January 5th. TheStreet upgraded shares of Ally Financial from a “c+” rating to a “b-” rating in a research note on Monday, October 19th. BMO Capital Markets increased their price target on shares of Ally Financial from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, October 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Ally Financial from $23.50 to $30.00 and gave the company an “overweight” rating in a report on Friday, October 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. Ally Financial presently has an average rating of “Buy” and an average target price of $34.55.

NYSE ALLY opened at $39.56 on Thursday. The business has a 50 day simple moving average of $34.09 and a 200 day simple moving average of $26.86. Ally Financial has a one year low of $10.22 and a one year high of $41.99. The stock has a market capitalization of $14.79 billion, a P/E ratio of 19.39 and a beta of 1.61. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.97 and a quick ratio of 0.97.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, October 16th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $0.72 by $0.53. Ally Financial had a return on equity of 6.43% and a net margin of 12.22%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 12th. Investors of record on Monday, February 1st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, January 29th. Ally Financial’s dividend payout ratio is currently 20.43%.

In other Ally Financial news, CAO David J. Debrunner sold 22,500 shares of the company’s stock in a transaction on Monday, November 16th. The stock was sold at an average price of $30.82, for a total transaction of $693,450.00. Following the transaction, the chief accounting officer now owns 87,079 shares of the company’s stock, valued at approximately $2,683,774.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey Jonathan Brown sold 17,300 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $29.02, for a total value of $502,046.00. Following the transaction, the chief executive officer now directly owns 715,146 shares in the company, valued at approximately $20,753,536.92. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

A number of large investors have recently bought and sold shares of ALLY. FMR LLC grew its holdings in Ally Financial by 129.3% in the 1st quarter. FMR LLC now owns 1,801,409 shares of the financial services provider’s stock worth $49,521,000 after buying an additional 1,015,634 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Ally Financial in the second quarter valued at approximately $40,000. Great West Life Assurance Co. Can boosted its position in shares of Ally Financial by 0.4% in the second quarter. Great West Life Assurance Co. Can now owns 493,923 shares of the financial services provider’s stock valued at $9,760,000 after acquiring an additional 1,893 shares during the period. Handelsbanken Fonder AB bought a new position in shares of Ally Financial in the second quarter valued at approximately $1,583,000. Finally, Neuberger Berman Group LLC bought a new position in shares of Ally Financial in the second quarter valued at approximately $256,000. 92.07% of the stock is currently owned by hedge funds and other institutional investors.

About Ally Financial

Ally Financial Inc, a bank holding company, provides various digital financial products and services to consumer, commercial, 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.

Featured Article: Cryptocurrencies

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

Receive News & Ratings for Ally Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ally Financial and related companies with MarketBeat.com's FREE daily email newsletter.