Jefferies Group Comments on Ally Financial Inc’s FY2017 Earnings (NYSE:ALLY)

Ally Financial Inc (NYSE:ALLY) – Stock analysts at Jefferies Group increased their FY2017 earnings per share estimates for shares of Ally Financial in a report released on Wednesday, Zacks Investment Research reports. Jefferies Group analyst J. Hecht now anticipates that the financial services provider will earn $2.30 per share for the year, up from their previous forecast of $2.25. Jefferies Group has a “Buy” rating and a $35.00 price objective on the stock. Jefferies Group also issued estimates for Ally Financial’s Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.75 EPS and FY2018 earnings at $2.95 EPS.

Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. Ally Financial had a return on equity of 8.10% and a net margin of 13.73%. Ally Financial’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 earnings per share.

A number of other research firms also recently issued reports on ALLY. Oppenheimer set a $38.00 target price on Ally Financial and gave the company a “buy” rating in a research report on Tuesday. BMO Capital Markets downgraded Ally Financial from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research report on Wednesday. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Ally Financial in a research report on Wednesday. Morgan Stanley boosted their price target on Ally Financial from $28.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Credit Suisse Group boosted their price target on Ally Financial from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ally Financial has a consensus rating of “Buy” and an average price target of $32.56.

Ally Financial (NYSE ALLY) traded down $1.25 during trading hours on Thursday, hitting $28.89. The company had a trading volume of 4,068,000 shares, compared to its average volume of 3,660,000. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 3.32. The firm has a market capitalization of $12,240.00, a P/E ratio of 14.23, a P/E/G ratio of 0.80 and a beta of 1.39. Ally Financial has a twelve month low of $18.11 and a twelve month high of $31.29.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, January 31st. This is an increase from Ally Financial’s previous quarterly dividend of $0.12. Ally Financial’s payout ratio is 25.62%.

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Ally Financial by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 8,683,736 shares of the financial services provider’s stock worth $210,668,000 after acquiring an additional 114,270 shares during the period. Bank of Nova Scotia bought a new stake in shares of Ally Financial during the second quarter worth approximately $2,262,000. State Treasurer State of Michigan boosted its holdings in shares of Ally Financial by 163.0% during the third quarter. State Treasurer State of Michigan now owns 3,762,933 shares of the financial services provider’s stock worth $91,289,000 after acquiring an additional 2,331,967 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Ally Financial by 2.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 179,000 shares of the financial services provider’s stock worth $4,361,000 after acquiring an additional 3,600 shares during the period. Finally, Saturna Capital CORP bought a new stake in shares of Ally Financial during the third quarter worth approximately $635,000.

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Ally Financial Company Profile

Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.

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Earnings History and Estimates for Ally Financial (NYSE:ALLY)

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