Synchrony Financial (NYSE:SYF) – Investment analysts at Wedbush upped their FY2018 earnings per share estimates for Synchrony Financial in a note issued to investors on Wednesday, according to Zacks Investment Research. Wedbush analyst H. Coffey now anticipates that the financial services provider will post earnings per share of $3.70 for the year, up from their prior forecast of $3.05. Wedbush currently has a “Hold” rating and a $41.00 target price on the stock. Wedbush also issued estimates for Synchrony Financial’s FY2019 earnings at $4.20 EPS.
Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, January 31st. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a report on Tuesday, October 31st. Barclays set a $53.00 price target on shares of Synchrony Financial and gave the company a “buy” rating in a report on Monday, January 22nd. Morgan Stanley raised their price target on shares of Synchrony Financial from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $39.00 price target on shares of Synchrony Financial in a report on Thursday, October 12th. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Synchrony Financial presently has a consensus rating of “Buy” and a consensus price target of $38.30.
Synchrony Financial (SYF) traded down $1.80 on Friday, hitting $36.88. 10,400,000 shares of the company traded hands, compared to its average volume of 6,580,000. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.45 and a quick ratio of 1.47. Synchrony Financial has a twelve month low of $26.01 and a twelve month high of $40.59. The firm has a market capitalization of $28,860.00, a PE ratio of 15.24, a PEG ratio of 1.49 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, January 19th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07. Synchrony Financial had a net margin of 11.75% and a return on equity of 14.62%. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the company earned $0.70 earnings per share.
Several large investors have recently modified their holdings of SYF. Westside Investment Management Inc. boosted its holdings in 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 purchasing an additional 867 shares during the period. TRUE Private Wealth Advisors acquired a new position in Synchrony Financial in the fourth quarter worth $204,000. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 purchasing an additional 486 shares during the period. Highlander Capital Management LLC boosted its holdings in 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 purchasing an additional 2,500 shares during the period. Finally, SpiderRock Advisors LLC acquired a new position in Synchrony Financial in the third quarter worth $176,000. Institutional investors and hedge funds own 86.78% of the company’s stock.
In related news, Director Olympia J. Snowe purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was acquired at an average price of $33.40 per share, for a total transaction of $100,200.00. Following the completion of the purchase, the director now owns 10,608 shares in the company, valued at $354,307.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David P. Melito sold 2,580 shares of Synchrony Financial stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total transaction of $90,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,461 shares of company stock valued at $241,778. Insiders own 0.03% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.63%. Synchrony Financial’s dividend payout ratio (DPR) is presently 24.79%.
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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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