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Ally Financial (ALLY) Expected to Beat Earnings Estimates: Should You Buy?

Ally Financial (ALLY) Expected to Beat Earnings Estimates: Should You Buy?

Wall Street expects a year-over-year decline in earnings on lower revenues when Ally Financial (ALLY) reports results for the quarter ended September 2020. While this widely-known consensus outlook is important in gauging the company’s earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 16. On the other hand, if they miss, the stock may move lower.

While management’s discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it’s worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This auto finance company and bank is expected to post quarterly earnings of $0.60 per share in its upcoming report, which represents a year-over-year change of -40.6%.

Revenues are expected to be $1.50 billion, down 6.3% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 158.41% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company’s earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction) — has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate

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Ally Financial Announces Date of 2021 Annual Meeting of Stockholders

Ally Financial Announces Date of 2021 Annual Meeting of Stockholders

Press release content from PR Newswire. The AP news staff was not involved in its creation.

DETROIT, Oct. 9, 2020 /PRNewswire/ — Ally Financial Inc. (NYSE: ALLY) today announced that it will conduct its 2021 annual meeting of stockholders on Tuesday, May 4, 2021. Additional details will be provided in the company’s proxy statement.

About Ally Financial Inc.
Ally Financial Inc. (NYSE: ALLY) is a leading digital financial-services company with $184.1 billion in assets as of June 30, 2020. As a customer-centric company with passionate customer service and innovative financial solutions, we are relentlessly focused on “Doing It Right” and being a trusted financial-services provider to our consumer, commercial, and corporate customers. We are one of the largest full-service automotive-finance operations in the country and offer a wide range of financial services and insurance products to automotive dealerships and consumers. Our award-winning online bank (Ally Bank, Member FDIC and Equal Housing Lender) offers mortgage lending, personal lending, and a variety of deposit and other banking products, including savings, money-market, and checking accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs). Additionally, we offer securities-brokerage and investment-advisory services through Ally Invest. Our robust corporate finance business offers capital for equity sponsors and middle-market companies.

For more information and disclosures about Ally, visit https://www.ally.com/#disclosures.

Contacts:

Daniel Eller
Ally Investor Relations
704-444-5216
[email protected]

Jillian Palash
Ally Communications (Media)
704-644-6201
[email protected]

View original content: http://www.prnewswire.com/news-releases/ally-financial-announces-date-of-2021-annual-meeting-of-stockholders-301149425.html

SOURCE Ally Financial

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