Synchrony Financial (NYSE:SYF) – Equities researchers at Wedbush upped their FY2018 earnings per share (EPS) estimates for Synchrony Financial in a note issued to investors on Wednesday. Wedbush analyst H. Coffey now forecasts that the financial services provider will post earnings of $3.70 per share for the year, up from their previous estimate of $3.05. Wedbush has a “Hold” rating and a $41.00 price target on the stock. Wedbush also issued estimates for Synchrony Financial’s FY2019 earnings at $4.20 EPS.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share.
A number of other research analysts have also recently issued reports on the company. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. BTIG Research reiterated a “buy” rating and issued a $44.00 target price on shares of Synchrony Financial in a research report on Sunday, December 17th. JMP Securities lifted their target price on Synchrony Financial from $35.00 to $37.00 and gave the company a “market outperform” rating in a research report on Monday, October 23rd. Wells Fargo & Co lifted their target price on Synchrony Financial from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Finally, Barclays set a $53.00 target price on Synchrony Financial and gave the company a “buy” rating in a research report on Tuesday, December 12th. Ten analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Synchrony Financial has a consensus rating of “Buy” and a consensus target price of $38.40.
Synchrony Financial (NYSE:SYF) opened at $39.37 on Friday. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $40.17. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $30,810.00, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06.
Several hedge funds have recently made changes to their positions in the company. Westside Investment Management Inc. lifted its stake in shares of Synchrony Financial by 32.1% in the second quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 867 shares during the period. Patten Group Inc. lifted its stake in shares of Synchrony Financial by 3,019.4% in the third quarter. Patten Group Inc. now owns 106,713 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 103,292 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Synchrony Financial by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 486 shares during the period. Highlander Capital Management LLC lifted its stake in shares of Synchrony Financial by 83.6% in the second quarter. Highlander Capital Management LLC now owns 5,492 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 2,500 shares during the period. Finally, Sun Life Financial INC lifted its stake in shares of Synchrony Financial by 40,207.1% in the second quarter. Sun Life Financial INC now owns 5,643 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 5,629 shares during the period. 85.46% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider David P. Melito sold 2,000 shares of Synchrony Financial stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $80,000.00. Following the sale, the insider now directly owns 39,259 shares of the company’s stock, valued at $1,570,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Melito sold 2,580 shares of Synchrony Financial stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $35.00, for a total value of $90,300.00. The disclosure for this sale can be found here. Insiders have sold 8,961 shares of company stock worth $324,508 over the last three months. Insiders own 0.03% of the company’s stock.
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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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