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Ally Financial (ALLY) Gains As Market Dips: What You Should Know
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Ally Financial (ALLY - Free Report) closed the most recent trading day at $27.01, moving +1.62% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Prior to today's trading, shares of the auto finance company and bank had lost 1.74% over the past month. This has lagged the Finance sector's gain of 3.77% and the S&P 500's gain of 4.22% in that time.
Wall Street will be looking for positivity from Ally Financial as it approaches its next earnings report date. This is expected to be July 19, 2023. The company is expected to report EPS of $0.89, down 49.43% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.09 billion, up 0.52% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.51 per share and revenue of $8.4 billion. These totals would mark changes of -42.08% and -0.38%, respectively, from last year.
Any recent changes to analyst estimates for Ally Financial should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ally Financial currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Ally Financial is holding a Forward P/E ratio of 7.57. Its industry sports an average Forward P/E of 8.82, so we one might conclude that Ally Financial is trading at a discount comparatively.
The Financial - Consumer Loans industry is part of the Finance sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ALLY in the coming trading sessions, be sure to utilize Zacks.com.
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Ally Financial (ALLY) Gains As Market Dips: What You Should Know
Ally Financial (ALLY - Free Report) closed the most recent trading day at $27.01, moving +1.62% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Prior to today's trading, shares of the auto finance company and bank had lost 1.74% over the past month. This has lagged the Finance sector's gain of 3.77% and the S&P 500's gain of 4.22% in that time.
Wall Street will be looking for positivity from Ally Financial as it approaches its next earnings report date. This is expected to be July 19, 2023. The company is expected to report EPS of $0.89, down 49.43% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.09 billion, up 0.52% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.51 per share and revenue of $8.4 billion. These totals would mark changes of -42.08% and -0.38%, respectively, from last year.
Any recent changes to analyst estimates for Ally Financial should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ally Financial currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Ally Financial is holding a Forward P/E ratio of 7.57. Its industry sports an average Forward P/E of 8.82, so we one might conclude that Ally Financial is trading at a discount comparatively.
The Financial - Consumer Loans industry is part of the Finance sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ALLY in the coming trading sessions, be sure to utilize Zacks.com.