Brokers Set Expectations for Ally Financial Inc.’s Q3 2024 Earnings (NYSE:ALLY)

Ally Financial Inc. (NYSE:ALLY) – Investment analysts at Zacks Research reduced their Q3 2024 EPS estimates for Ally Financial in a research report issued to clients and investors on Tuesday, October 1st. Zacks Research analyst N. Kataruka now anticipates that the financial services provider will earn $0.67 per share for the quarter, down from their previous 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.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) 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 company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the firm earned $0.96 EPS. Ally Financial’s quarterly revenue was down 3.8% compared to the same quarter last year.

A number of other research firms have also recently weighed in on ALLY. BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. TD Cowen cut their target price on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Morgan Stanley reduced their target price on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Citigroup initiated coverage on shares of Ally Financial in a report on Monday, June 24th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Barclays reduced their price objective on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $41.38.

Ally Financial Price Performance

NYSE:ALLY opened at $35.12 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. Ally Financial has a 12-month low of $22.54 and a 12-month high of $45.46. The stock’s 50 day moving average price is $38.89 and its two-hundred day moving average price is $39.43. The firm has a market capitalization of $10.68 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 0.37 and a beta of 1.39.

Hedge Funds Weigh In On Ally Financial

Several hedge funds have recently bought and sold shares of the company. Boston Partners bought a new position in Ally Financial in the first quarter valued at approximately $152,079,000. Scout Investments Inc. bought a new position in shares of Ally Financial in the 4th quarter valued at $63,080,000. Jennison Associates LLC acquired a new position in shares of Ally Financial during the 1st quarter worth $52,252,000. Delta Global Management LP lifted its position in shares of Ally Financial by 3,262.3% during the 1st quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock worth $42,051,000 after buying an additional 1,005,182 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Ally Financial by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after buying an additional 987,489 shares in the last quarter. 88.76% of the stock is owned by institutional investors.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.30 per share. 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 payout ratio is 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.