Ally Financial Inc to Post Q2 2019 Earnings of $0.97 Per Share, Oppenheimer Forecasts (ALLY)
Ally Financial Inc (NYSE:ALLY) – Analysts at Oppenheimer boosted their Q2 2019 EPS estimates for shares of Ally Financial in a research note issued to investors on Sunday, April 21st. Oppenheimer analyst D. Gabriele now expects that the financial services provider will post earnings of $0.97 per share for the quarter, up from their prior forecast of $0.95. Oppenheimer has a “Buy” rating and a $33.00 price objective on the stock. Oppenheimer also issued estimates for Ally Financial’s FY2020 earnings at $4.32 EPS.
Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. Ally Financial had a net margin of 23.12% and a return on equity of 11.01%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. Ally Financial’s revenue was up 13.9% compared to the same quarter last year.
Shares of ALLY stock opened at $29.76 on Tuesday. Ally Financial has a 52-week low of $20.60 and a 52-week high of $30.20. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 0.50 and a beta of 1.36. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 3.33.
A number of institutional investors and hedge funds have recently bought and sold shares of ALLY. Norges Bank acquired a new stake in Ally Financial in the fourth quarter worth $109,098,000. Oaktree Capital Management LP raised its holdings in Ally Financial by 34.6% in the fourth quarter. Oaktree Capital Management LP now owns 11,723,541 shares of the financial services provider’s stock worth $265,655,000 after purchasing an additional 3,011,141 shares during the period. Magnolia Group LLC raised its holdings in Ally Financial by 135.3% in the fourth quarter. Magnolia Group LLC now owns 4,311,472 shares of the financial services provider’s stock worth $97,698,000 after purchasing an additional 2,478,861 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Ally Financial by 2,129.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,394,346 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 2,286,941 shares during the period. Finally, Lakewood Capital Management LP raised its holdings in shares of Ally Financial by 20.3% during the fourth quarter. Lakewood Capital Management LP now owns 10,864,809 shares of the financial services provider’s stock worth $246,197,000 after acquiring an additional 1,829,956 shares during the period.
In other Ally Financial news, CEO Jeffrey Jonathan Brown sold 97,311 shares of the stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $27.01, for a total value of $2,628,370.11. Following the sale, the chief executive officer now directly owns 632,569 shares in the company, valued at $17,085,688.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO David J. Debrunner sold 2,222 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $27.73, for a total transaction of $61,616.06. Following the completion of the sale, the chief accounting officer now owns 112,423 shares in the company, valued at $3,117,489.79. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.68 annualized dividend and a yield of 2.28%. Ally Financial’s dividend payout ratio (DPR) is presently 20.36%.
About Ally Financial
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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