Top Wall Street Forecasters Revamp Ally Financial Expectations Ahead Of Q2 Earnings

Ally Financial Inc . (NYSE: ALLY ) is scheduled to release its financial results for the second quarter, before the op ening bell on Wednesday, July 17.

Analysts expect the Detroit, Michigan-based company to report quarterly earnings at 64 cents per share, down from 96 cents per share in the year-ago period. Ally Financial expects to post revenue of $2.03 billion. It posted $2.08 billion a year earlier, according to data from Benzinga Pro .

On April 18, Ally Financial reported better-than-expected first-quarter financial results.

Ally Financial shares gained 1.6% to close at $44.46 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• JP Morgan analyst Richard Shane upgraded the stock from Underweight to Neutral and raised the price target from $39 to $45 on July 8. This analyst has an accuracy rate of 64%.
• Deutsche Bank analyst Meng Jiao maintained a Buy rating and cut the price target from $51 to $50 on July 1. This analyst has an accuracy rate of 61%.
• Citigroup analyst Keith Horowitz initiated coverage on the stock with a Buy rating and a price target of $50 on June 24. This analyst has an accuracy rate of 79%.
• BMO Capital analyst James Fotheringham maintained a Market Perform rating and raised the price target from $36 to $37 on April 19. This analyst has an accuracy rate of 72%.
• Wells Fargo analyst Donald Fandetti maintained an Underweight rating and increased the price target from $29 to $33 on April 10. This analyst has an accuracy rate of 69%.

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This article Top Wall Street Forecasters Revamp Ally Financial Expectations Ahead Of Q2 Earnings originally appeared on Benzinga.com

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