Synchrony Financial (NYSE:SYF) announced a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Stockholders of record on Monday, November 6th will be given a dividend of 0.15 per share by the financial services provider on Thursday, November 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, November 3rd.
Synchrony Financial has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Synchrony Financial to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 18.3%.
Shares of Synchrony Financial (NYSE:SYF) traded down $0.02 during trading on Friday, reaching $32.07. 2,669,600 shares of the company were exchanged, compared to its average volume of 7,004,066. The stock has a market cap of $25,113.37, a price-to-earnings ratio of 12.25, a PEG ratio of 1.32 and a beta of 1.02. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.47 and a quick ratio of 1.47. Synchrony Financial has a 1 year low of $26.01 and a 1 year high of $38.06.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.06. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.78 billion. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. During the same quarter in the prior year, the firm earned $0.73 EPS. equities analysts anticipate that Synchrony Financial will post 2.6 EPS for the current fiscal year.
In other news, insider Jonathan S. Mothner sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $32.82, for a total value of $49,230.00. Following the transaction, the insider now directly owns 113,934 shares in the company, valued at approximately $3,739,313.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan S. Mothner sold 1,000 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $33.50, for a total transaction of $33,500.00. Following the completion of the sale, the insider now directly owns 113,578 shares in the company, valued at approximately $3,804,863. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company’s stock.
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Several research firms have recently issued reports on SYF. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 price objective (up from $33.00) on shares of Synchrony Financial in a research report on Tuesday, July 25th. Barclays PLC set a $40.00 price target on shares of Synchrony Financial and gave the stock a “buy” rating in a research note on Monday, October 23rd. TheStreet upgraded shares of Synchrony Financial from a “c” rating to a “b” rating in a research note on Monday, July 31st. Bank of America Corporation lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $35.00 to $33.00 in a research note on Friday, October 6th. Finally, JMP Securities boosted their price target on shares of Synchrony Financial from $35.00 to $37.00 and gave the stock a “market outperform” rating in a research note on Monday, October 23rd. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $36.77.
Synchrony Financial Company Profile
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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