Synchrony Financial (NYSE:SYF) announced its earnings results on Friday. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07, Bloomberg Earnings reports. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.96 billion. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. During the same period in the previous year, the business posted $0.70 earnings per share.
Synchrony Financial (NYSE:SYF) opened at $38.47 on Friday. The firm has a market cap of $30,106.31, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.47 and a beta of 1.06. 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.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Synchrony Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, October 23rd. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a research report on Tuesday, October 31st. Wells Fargo & Co upgraded shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Tuesday, January 9th. Barclays set a $55.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley boosted their target price on shares of Synchrony Financial from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Ten 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’s stock. Synchrony Financial presently has an average rating of “Buy” and an average price target of $38.40.
In other news, Director Olympia J. Snowe purchased 3,000 shares of the company’s stock in a transaction on Friday, November 17th. The stock was acquired 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 in the company, valued at approximately $354,307.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David P. Melito sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now owns 39,259 shares of the company’s stock, valued at $1,570,360. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,961 shares of company stock valued at $291,008. Company insiders own 0.03% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Tealwood Asset Management Inc. purchased a new position in shares of Synchrony Financial in the fourth quarter worth $1,233,000. TRUE Private Wealth Advisors purchased a new position in shares of Synchrony Financial in the fourth quarter worth $204,000. State of Alaska Department of Revenue lifted its holdings in shares of Synchrony Financial by 154.8% in the fourth quarter. State of Alaska Department of Revenue now owns 73,201 shares of the financial services provider’s stock worth $2,825,000 after buying an additional 44,473 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Synchrony Financial in the fourth quarter worth $397,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Synchrony Financial by 1.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,787,822 shares of the financial services provider’s stock worth $107,638,000 after buying an additional 42,756 shares in the last quarter. 85.57% of the stock is currently owned by hedge funds and other institutional investors.
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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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