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What Are Analysts Projecting for Ally Financial’s Third Quarter Earnings

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The third quarter earnings season has commenced this week and the top four U.S. banks are reporting this week. Digital financial company Ally Financial is also expected to release its earnings this week. When does Ally Financial Report earnings and what are analysts projecting for the company? 

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Ally Financial earnings date

Ally Financial has set its earnings call for Friday, Oct.16 before the market opens at 9:00 a.m. ET. Analysts polled by Tikr expect the company to report revenues of $1.56 billion in the quarter, down 2.2 percent over the corresponding period in 2019. Its adjusted EPS is expected to fall 30.2 percent year over year to $0.70. The financial sector is among the worst affected by the pandemic and the S&P 500’s bank industry group is the second worst performing sector this year.

Ally stock pre-market

Ally Financial stock was trading 0.18 percent higher in pre markets today. However, U.S. stock market futures pointed to a flat opening today. S&P 500 futures were down 0.19 percent in pre markets today.

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What is Ally Financial’s stock price today?

Ally Financial closed at $27.60 yesterday and was quoted at $27.65 in pre markets today. The stock has lost 9.7 percent so far in 2020. It made a 52-week high of $33.34 in February but fell to a 52-week low of $10.22 in March. U.S. stock markets tumbled in March and plunged into a bear market territory after a record 11-year bull market.

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Ally dividend

Ally Financial pays a dividend regularly. This year, it has paid four dividends of $0.19 each, taking its total 2020 dividend to $0.76. At the current stock price, it represents a dividend yield of 2.75 percent. In 2020, Ally Financial has increased its dividend by 11.7 percent. The most recent dividend has a record date of Oct. 30 and would be payable on Nov. 13.

Ally stock forecast

According to the data compiled by MarketBeat, Ally Financial has an average price target of $26.93 which represents a potential downside of 2.4 percent over its yesterday’s closing prices. Out of the 18 analysts covering Ally Financial stock, 14 have given it a “buy” rating while three have rated it as a “hold” or some equivalent. The remaining one analyst has a “sell” rating on Ally Financial stock. Wall Street analysts might revise Ally Financial’s stock price after its earnings release

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Ally Financial also offers term notes and demand notes. The term notes have maturities ranging between 9 months to 30 years and are periodically offered through Incapital LLC. For demand notes, the company offers rates of 25 basis points below $15,000 and 40 basis points for amounts between $15,000 and $50,001. For amounts above $50,001, it offers 50 basis points.

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