Ally Financial Inc. (NYSE:ALLY) to Post Q3 2024 Earnings of $0.67 Per Share, Zacks Research Forecasts

Ally Financial Inc. (NYSE:ALLY) – Analysts at Zacks Research reduced their Q3 2024 earnings estimates for shares of Ally Financial in a research report issued to clients and investors on Tuesday, October 1st. Zacks Research analyst N. Kataruka now expects that the financial services provider will post earnings per share of $0.67 for the quarter, down from their prior estimate of $0.93. The consensus estimate for Ally Financial’s current full-year earnings is $3.15 per share. Zacks Research also issued estimates for Ally Financial’s Q4 2024 earnings at $0.87 EPS, FY2024 earnings at $2.96 EPS, Q4 2025 earnings at $1.42 EPS, Q1 2026 earnings at $1.13 EPS, Q2 2026 earnings at $1.49 EPS and FY2026 earnings at $5.85 EPS.

A number of other research firms have also weighed in on ALLY. BTIG Research lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. Bank of America dropped their price objective on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Barclays dropped their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. Wells Fargo & Company dropped their price objective on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.38.

Ally Financial Trading Up 1.9 %

ALLY stock opened at $35.13 on Friday. The firm has a fifty day moving average price of $38.89 and a 200 day moving average price of $39.42. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $45.46. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market cap of $10.68 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.37 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm posted $0.96 earnings per share. Ally Financial’s revenue for the quarter was down 3.8% compared to the same quarter last year.

Institutional Investors Weigh In On Ally Financial

A number of large investors have recently bought and sold shares of ALLY. Fifth Third Bancorp boosted its position in Ally Financial by 1.2% in the 2nd quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock worth $923,000 after purchasing an additional 278 shares in the last quarter. Trust Co. of Toledo NA OH raised its stake in shares of Ally Financial by 1.7% during the 1st quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider’s stock worth $715,000 after buying an additional 287 shares during the period. Signet Financial Management LLC raised its stake in shares of Ally Financial by 4.8% during the 1st quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock worth $295,000 after buying an additional 330 shares during the period. Blue Trust Inc. raised its stake in shares of Ally Financial by 10.2% during the 2nd quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider’s stock worth $175,000 after buying an additional 400 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Ally Financial by 39.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,630 shares of the financial services provider’s stock worth $65,000 after buying an additional 463 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.42%. Ally Financial’s dividend payout ratio is currently 48.98%.

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.