FY2020 EPS Estimates for Ally Financial Inc. Raised by Analyst (NYSE:ALLY)

Ally Financial Inc. (NYSE:ALLY) – Research analysts at Jefferies Financial Group upped their FY2020 EPS estimates for shares of Ally Financial in a report released on Thursday, January 7th. Jefferies Financial Group analyst J. Hecht now expects that the financial services provider will post earnings per share of $2.49 for the year, up from their prior forecast of $2.48. Jefferies Financial Group also issued estimates for Ally Financial’s Q4 2020 earnings at $1.07 EPS, Q1 2021 earnings at $1.02 EPS, Q3 2021 earnings at $0.78 EPS, Q1 2022 earnings at $1.06 EPS, Q2 2022 earnings at $1.20 EPS and Q4 2022 earnings at $1.44 EPS.

Ally Financial (NYSE:ALLY) last announced its earnings results on Friday, October 16th. The financial services provider reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ 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 business posted $1.01 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis.

A number of other equities analysts have also weighed in on ALLY. Credit Suisse Group increased their price target on Ally Financial from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 6th. Piper Sandler increased their price target on Ally Financial from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. The Goldman Sachs Group increased their price target on Ally Financial from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, December 4th. JPMorgan Chase & Co. increased their price target on Ally Financial from $23.50 to $30.00 and gave the company an “overweight” rating in a research report on Friday, October 9th. Finally, Barclays upgraded Ally Financial from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research report on Monday, January 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.06.

NYSE:ALLY opened at $37.37 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.82. Ally Financial has a 1-year low of $10.22 and a 1-year high of $38.16. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of 18.32 and a beta of 1.61. The stock has a fifty day simple moving average of $33.14 and a 200 day simple moving average of $26.31.

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new position in shares of Ally Financial in the 3rd quarter valued at approximately $37,000. Sandy Spring Bank bought a new stake in Ally Financial in the third quarter valued at approximately $38,000. Private Advisor Group LLC bought a new stake in Ally Financial in the second quarter valued at approximately $40,000. CWM LLC raised its stake in Ally Financial by 21.2% in the third quarter. CWM LLC now owns 1,993 shares of the financial services provider’s stock valued at $50,000 after buying an additional 348 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Ally Financial in the third quarter valued at approximately $51,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

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

Ally Financial Company Profile

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.