Ally Financial (NYSE: ALLY) reported its earnings on July 17th, showing $0.97 earnings per share (EPS), which exceeded the expected $0.64 EPS. The company earned $2 billion in revenue, slightly below the forecast of $2.03 billion. Compared to last year, revenue fell by 3.8%. Analysts predict Ally will reach $3 EPS this fiscal year and $5 EPS next fiscal year.
Ally Financial Stock Performance
On Wednesday, Ally Financial stock opened at $34.97. The market cap is $10.63 billion, with a P/E ratio of 14.27. The stock’s 52-week range is from $22.54 to $45.46.
Dividend Announcement
Ally Financial announced a quarterly dividend of $0.30, payable on November 15th to shareholders as of November 1st, indicating an annual dividend of $1.20 and a yield of 3.43%. The payout ratio is 48.98%.
Analyst Ratings
Recent analyst reports have mixed ratings. Evercore lowered their target from $47 to $38, while Royal Bank of Canada reduced it from $49 to $40. JPMorgan upgraded its rating but lowered the target from $46 to $40. The overall average rating is “Hold” with a target price of $40.63.
About Ally Financial
Ally Financial Inc. offers various digital financial services across the United States, Canada, and Bermuda, focusing on automotive finance, insurance, mortgages, and corporate finance.
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