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.
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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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