Synchrony Financial (SYF) Receives Average Recommendation of “Buy” from Brokerages

Shares of Synchrony Financial (NYSE:SYF) have been assigned a consensus recommendation of “Buy” from the twenty-five analysts that are presently covering the firm, Marketbeat reports. 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 company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $38.70.

A number of equities analysts have issued reports on the company. Barclays set a $40.00 price target on Synchrony Financial and gave the company a “buy” rating in a research note on Monday, October 23rd. Bank of America downgraded Synchrony Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $33.00 in a research note on Friday, October 6th. Morgan Stanley lifted their price target on Synchrony Financial from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. JMP Securities lifted their price target on Synchrony Financial from $35.00 to $37.00 and gave the company a “market outperform” rating in a research note on Monday, October 23rd. Finally, BTIG Research reiterated a “buy” rating and set a $44.00 price target on shares of Synchrony Financial in a research note on Sunday, December 17th.

In related news, insider David P. Melito sold 2,000 shares of Synchrony Financial stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the sale, the insider now owns 39,259 shares of the company’s stock, valued at approximately $1,570,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Olympia J. Snowe purchased 3,000 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was bought at an average cost of $33.40 per share, for a total transaction of $100,200.00. Following the acquisition, the director now directly owns 10,608 shares in the company, valued at approximately $354,307.20. The disclosure for this purchase can be found here. Insiders sold a total of 8,961 shares of company stock worth $324,508 in the last ninety days. 0.03% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of SYF. Federated Investors Inc. PA raised its holdings in Synchrony Financial by 0.6% during the 2nd quarter. Federated Investors Inc. PA now owns 26,333 shares of the financial services provider’s stock valued at $786,000 after acquiring an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Synchrony Financial by 9.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 486 shares during the period. Norinchukin Bank The raised its holdings in Synchrony Financial by 12.4% during the 2nd quarter. Norinchukin Bank The now owns 30,417 shares of the financial services provider’s stock valued at $907,000 after acquiring an additional 3,345 shares during the period. Bahl & Gaynor Inc. raised its holdings in Synchrony Financial by 6.7% during the 2nd quarter. Bahl & Gaynor Inc. now owns 12,872 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 808 shares during the period. Finally, Amalgamated Bank raised its holdings in Synchrony Financial by 57.1% during the 2nd quarter. Amalgamated Bank now owns 91,027 shares of the financial services provider’s stock valued at $2,714,000 after acquiring an additional 33,101 shares during the period. 85.46% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial (NYSE:SYF) opened at $39.37 on Monday. The stock has a market capitalization of $30,810.64, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.47 and a current ratio of 1.47. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $40.17.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.78 billion. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. During the same quarter in the previous year, the business earned $0.73 EPS. equities research analysts expect that Synchrony Financial will post 2.57 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/01/22/synchrony-financial-syf-receives-average-recommendation-of-buy-from-brokerages.html.

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.

Analyst Recommendations for Synchrony Financial (NYSE:SYF)

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply