Ally Financial (NYSE:ALLY) Announces Earnings Results

Ally Financial (NYSE:ALLY) posted its earnings results on Friday. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38, Briefing.com reports. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. Ally Financial’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share.

Ally Financial Stock Down 2.3 %

NYSE:ALLY opened at $35.01 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The company’s fifty day moving average price is $37.62 and its 200-day moving average price is $39.12. Ally Financial has a 1-year low of $22.54 and a 1-year high of $45.46. The firm has a market capitalization of $10.64 billion, a P/E ratio of 14.29, a PEG ratio of 0.42 and a beta of 1.39.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial’s payout ratio is 48.98%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALLY. Keefe, Bruyette & Woods dropped their price objective on Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, July 1st. Citigroup initiated coverage on shares of Ally Financial in a research note on Monday, June 24th. They set a “buy” rating and a $50.00 price objective for the company. Barclays lowered their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. Finally, TD Cowen cut their price target on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.63.

About Ally Financial

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.