Ally Financial (NYSE:ALLY) Releases Quarterly Earnings Results, Beats Estimates By $0.53 EPS

Ally Financial (NYSE:ALLY) announced its quarterly earnings results on Friday. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.53, MarketWatch Earnings reports. Ally Financial had a net margin of 10.87% and a return on equity of 5.85%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. Ally Financial’s quarterly revenue was up 3.7% on a year-over-year basis.

Shares of NYSE ALLY traded up $0.76 during midday trading on Friday, hitting $28.63. The stock had a trading volume of 8,474,778 shares, compared to its average volume of 5,903,370. The business’s 50 day moving average is $25.23 and its 200-day moving average is $20.19. The company has a market cap of $10.70 billion, a P/E ratio of 16.36 and a beta of 1.58. Ally Financial has a 52 week low of $10.22 and a 52 week high of $33.34. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 2.11.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $0.76 annualized dividend and a dividend yield of 2.65%. Ally Financial’s dividend payout ratio is presently 20.43%.

Several brokerages recently issued reports on ALLY. Wolfe Research began coverage on shares of Ally Financial in a research report on Friday, July 31st. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Ally Financial from $23.50 to $30.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. Piper Sandler upped their price objective on shares of Ally Financial from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, September 23rd. Goldman Sachs Group initiated coverage on shares of Ally Financial in a report on Tuesday, July 7th. They issued a “buy” rating on the stock. Finally, ValuEngine upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $26.38.

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.

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Earnings History for Ally Financial (NYSE:ALLY)

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