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Ally Financial (ALLY) Beats Q3 Earnings, Revenues Up Y/Y
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Have you been eager to see how Ally Financial Inc. (ALLY - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Detroit, Michigan-based automotive financial services company’s earnings release this morning:
An Earnings Beat
Ally Financial came out with adjusted earnings of 65 cents per share, surpassing the Zacks Consensus Estimate of 57 cents.
Higher revenues were largely responsible for improved earnings.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Ally Financial depicted a bearish stance prior to the earnings release. The Zacks Consensus Estimate declined 1.7% over the last seven days.
Before posting the earnings beat in Q3, the company delivered positive surprises in two of the trailing four quarters, with an average beat of 4.3%.
Ally Financial posted total net revenues of $1.46 billion, which was in line with the Zacks Consensus Estimate. Also, it was above the prior-year quarter figure of $1.38 billion.
Key Statistics
Auto originations of $8.1 billion in the quarter
Retail deposit grew 17% year over year to $74.9 billion as of Sep 30, 2017
Net financing revenue of $1.08 billion, up 8.5% year over year
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) for Ally Financial. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Ally Financial earnings report!
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Ally Financial (ALLY) Beats Q3 Earnings, Revenues Up Y/Y
Have you been eager to see how Ally Financial Inc. (ALLY - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Detroit, Michigan-based automotive financial services company’s earnings release this morning:
An Earnings Beat
Ally Financial came out with adjusted earnings of 65 cents per share, surpassing the Zacks Consensus Estimate of 57 cents.
Higher revenues were largely responsible for improved earnings.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Ally Financial depicted a bearish stance prior to the earnings release. The Zacks Consensus Estimate declined 1.7% over the last seven days.
Before posting the earnings beat in Q3, the company delivered positive surprises in two of the trailing four quarters, with an average beat of 4.3%.
Ally Financial Inc. Price and EPS Surprise
Ally Financial Inc. Price and EPS Surprise | Ally Financial Inc. Quote
Revenues In-Line
Ally Financial posted total net revenues of $1.46 billion, which was in line with the Zacks Consensus Estimate. Also, it was above the prior-year quarter figure of $1.38 billion.
Key Statistics
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) for Ally Financial. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.)
Check back later for our full write up on this Ally Financial earnings report!
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>