Synchrony Financial (NYSE:SYF) – Equities researchers at Oppenheimer decreased their Q4 2017 earnings estimates for shares of Synchrony Financial in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Oppenheimer analyst B. Chittenden now forecasts that the financial services provider will post earnings per share of $0.66 for the quarter, down from their prior forecast of $0.68. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for Synchrony Financial’s Q4 2018 earnings at $0.95 EPS.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations 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 company earned $0.73 earnings per share.
A number of other analysts have also commented on SYF. Jefferies Group reissued a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research report on Thursday, September 21st. Zacks Investment Research lowered shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Bank of America lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $35.00 to $33.00 in a research report on Friday, October 6th. Wells Fargo & Co started coverage on shares of Synchrony Financial in a research report on Tuesday, October 10th. They issued a “market perform” rating and a $33.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research report on Thursday, October 12th. Ten equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $38.40.
Synchrony Financial (SYF) opened at $39.37 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.38. The firm has a market cap of $30,810.00, a P/E ratio of 14.97, a PEG ratio of 1.56 and a beta of 1.06. Synchrony Financial has a 1-year low of $26.01 and a 1-year high of $40.17.
In other Synchrony Financial news, insider Jonathan S. Mothner sold 1,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $33.50, for a total transaction of $33,500.00. Following the sale, the insider now directly owns 113,578 shares of the company’s stock, valued at $3,804,863. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Olympia J. Snowe purchased 3,000 shares of the company’s stock in a transaction on Friday, November 17th. The shares were purchased at an average cost of $33.40 per share, for a total transaction of $100,200.00. Following the completion of the transaction, the director now directly owns 10,608 shares of the company’s stock, valued at approximately $354,307.20. The disclosure for this purchase can be found here. Insiders have sold 8,961 shares of company stock worth $324,508 over the last ninety days. Insiders own 0.03% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Berkshire Hathaway Inc. bought a new position in shares of Synchrony Financial in the second quarter valued at about $520,747,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Synchrony Financial by 13.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 466,387 shares of the financial services provider’s stock valued at $14,481,000 after purchasing an additional 56,959 shares during the period. Janus Henderson Group PLC raised its position in shares of Synchrony Financial by 1,820.5% in the second quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock valued at $326,070,000 after purchasing an additional 10,365,219 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Synchrony Financial by 1.6% in the third quarter. Great West Life Assurance Co. Can now owns 610,025 shares of the financial services provider’s stock valued at $18,999,000 after purchasing an additional 9,518 shares during the period. Finally, Stifel Financial Corp raised its position in shares of Synchrony Financial by 531.9% in the third quarter. Stifel Financial Corp now owns 577,096 shares of the financial services provider’s stock valued at $17,910,000 after purchasing an additional 485,775 shares during the period. 85.46% of the stock is currently owned by institutional investors.
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About Synchrony Financial
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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