Ally Financial Inc (NYSE:ALLY) Expected to Post Q1 2021 Earnings of ($0.08) Per Share
Ally Financial Inc (NYSE:ALLY) – Equities researchers at Piper Sandler dropped their Q1 2021 earnings estimates for Ally Financial in a research note issued on Wednesday, June 24th. Piper Sandler analyst K. Barker now expects that the financial services provider will post earnings per share of ($0.08) for the quarter, down from their prior forecast of ($0.03). Piper Sandler currently has a “Overweight” rating and a $27.00 price target on the stock. Piper Sandler also issued estimates for Ally Financial’s Q3 2021 earnings at $0.57 EPS and Q4 2021 earnings at $0.75 EPS.
Several other research firms have also issued reports on ALLY. Nomura Securities lowered their price target on Ally Financial from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Credit Suisse Group lifted their price target on Ally Financial from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. BTIG Research lowered Ally Financial from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 21st. Zacks Investment Research lowered Ally Financial from a “hold” rating to a “sell” rating and set a $18.00 price target for the company. in a research report on Monday, June 1st. Finally, BMO Capital Markets raised Ally Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $25.00 to $30.00 in a research report on Thursday, May 14th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $27.82.
Ally Financial (NYSE:ALLY) last announced its earnings results on Monday, April 20th. The financial services provider reported ($0.44) EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($1.29). Ally Financial had a net margin of 16.46% and a return on equity of 6.92%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $0.80 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis.
In other Ally Financial news, Director Mayree C. Clark purchased 15,000 shares of Ally Financial stock in a transaction dated Friday, April 24th. The stock was purchased at an average price of $14.25 per share, with a total value of $213,750.00. Following the transaction, the director now directly owns 65,880 shares of the company’s stock, valued at $938,790. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.36% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Americana Partners LLC purchased a new stake in Ally Financial during the 4th quarter worth about $37,000. Orion Portfolio Solutions LLC purchased a new position in shares of Ally Financial during the 4th quarter valued at $46,000. Exane Derivatives grew its holdings in shares of Ally Financial by 76.6% during the 1st quarter. Exane Derivatives now owns 1,766 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 766 shares in the last quarter. Carroll Financial Associates Inc. grew its holdings in shares of Ally Financial by 59.5% during the 1st quarter. Carroll Financial Associates Inc. now owns 2,104 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 785 shares in the last quarter. Finally, Verus Capital Partners LLC bought a new stake in Ally Financial in the first quarter worth $31,000. 92.97% of the stock is owned by hedge funds and other institutional investors.
Ally Financial Company Profile
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, 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.
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