Synchrony Financial (NYSE:SYF) released its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.07, Bloomberg Earnings reports. 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 in the prior year, the firm earned $0.70 earnings per share.
Shares of Synchrony Financial (SYF) traded up $1.21 during trading hours on Monday, hitting $36.24. 7,027,417 shares of the company were exchanged, compared to its average volume of 7,610,000. Synchrony Financial has a fifty-two week low of $26.01 and a fifty-two week high of $40.59. The company has a current ratio of 1.45, a quick ratio of 1.47 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $28,360.00, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, February 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.66%. Synchrony Financial’s payout ratio is 24.79%.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 price objective 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. Morgan Stanley increased their price objective 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. Jefferies Group increased their price objective on shares of Synchrony Financial to $44.00 and gave the company a “top pick” rating in a report on Friday, December 1st. Finally, Barclays set a $40.00 price objective on shares of Synchrony Financial and gave the company a “buy” rating in a report on Monday, October 23rd. Nine research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.30.
In related news, Director Laurel Richie acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $34.20 per share, for a total transaction of $34,200.00. Following the completion of the acquisition, the director now directly owns 8,608 shares in the company, valued at approximately $294,393.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David P. Melito sold 2,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 39,259 shares in the company, valued at $1,570,360. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,461 shares of company stock worth $241,778. 0.03% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Synchrony Financial by 1.9% in the second quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock valued at $1,557,609,000 after purchasing an additional 956,331 shares in the last quarter. FMR LLC grew its position in Synchrony Financial by 27.1% in the second quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after purchasing an additional 7,874,689 shares in the last quarter. First Eagle Investment Management LLC grew its position in Synchrony Financial by 2.1% in the third quarter. First Eagle Investment Management LLC now owns 17,666,015 shares of the financial services provider’s stock valued at $548,530,000 after purchasing an additional 362,810 shares in the last quarter. Berkshire Hathaway Inc. bought a new position in Synchrony Financial in the second quarter valued at $520,747,000. Finally, CI Investments Inc. grew its position in Synchrony Financial by 6.5% in the fourth quarter. CI Investments Inc. now owns 11,674,795 shares of the financial services provider’s stock valued at $450,764,000 after purchasing an additional 714,233 shares in the last quarter. 86.29% of the stock is owned by institutional investors and hedge funds.
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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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