Ally Financial (NYSE:ALLY) Releases FY 2024 Earnings Guidance

Ally Financial (NYSE:ALLY – Get Rating) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $6.00-$6.00 for the period. The company issued revenue guidance of -. Ally Financial also updated its FY 2023 guidance to $4.00-$4.00 EPS.

Ally Financial Stock Down 3.0 %

NYSE ALLY opened at $26.19 on Friday. The stock’s 50-day moving average price is $25.69 and its 200-day moving average price is $29.52. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.64. Ally Financial has a 52 week low of $22.34 and a 52 week high of $51.05. The company has a market capitalization of $7.82 billion, a P/E ratio of 4.42 and a beta of 1.27.

Ally Financial (NYSE:ALLY – Get Rating) last posted its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $1.12 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.61). The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.17 billion. Ally Financial had a return on equity of 19.51% and a net margin of 24.78%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $2.16 EPS. On average, equities research analysts predict that Ally Financial will post 5.99 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Tuesday, January 31st. Ally Financial’s dividend payout ratio (DPR) is presently 20.24%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank of Canada decreased their target price on Ally Financial from $37.00 to $32.00 and set an outperform rating on the stock in a research note on Thursday, October 20th. Bank of America downgraded Ally Financial from a buy rating to an underperform rating and decreased their target price for the company from $35.00 to $26.00 in a research note on Thursday, January 5th. Piper Sandler raised Ally Financial from an underweight rating to a neutral rating and lifted their target price for the company from $25.00 to $28.00 in a research note on Monday, January 9th. Compass Point cut Ally Financial from a buy rating to a neutral rating in a report on Wednesday, October 26th. Finally, Raymond James cut Ally Financial from an outperform rating to a market perform rating in a report on Thursday, October 6th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $33.97.

Insider Activity at Ally Financial

In other Ally Financial news, Director Marjorie Magner acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The stock was bought at an average price of $27.43 per share, for a total transaction of $54,860.00. Following the acquisition, the director now directly owns 55,603 shares in the company, valued at $1,525,190.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ally Financial

Large investors have recently bought and sold shares of the business. Salem Investment Counselors Inc. boosted its holdings in Ally Financial by 115.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 345 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in Ally Financial by 618.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,718 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 1,479 shares during the period. Covestor Ltd raised its position in Ally Financial by 108.8% during the 1st quarter. Covestor Ltd now owns 1,892 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 986 shares in the last quarter. Nations Financial Group Inc. IA ADV bought a new stake in Ally Financial during the 1st quarter valued at $201,000. Finally, EP Wealth Advisors LLC raised its position in Ally Financial by 8.2% during the 1st quarter. EP Wealth Advisors LLC now owns 4,656 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Ally Financial Company Profile

(Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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

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