Wedbush Weighs in on Synchrony Financial’s Q1 2018 Earnings (SYF)

Synchrony Financial (NYSE:SYF) – Wedbush decreased their Q1 2018 EPS estimates for shares of Synchrony Financial in a report issued on Tuesday, March 13th, according to Zacks Investment Research. Wedbush analyst H. Coffey now expects that the financial services provider will post earnings of $0.80 per share for the quarter, down from their prior estimate of $0.89. Wedbush currently has a “Hold” rating and a $41.00 target price on the stock. Wedbush also issued estimates for Synchrony Financial’s Q2 2018 earnings at $0.77 EPS and FY2018 earnings at $3.45 EPS.

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Several other research analysts have also recently weighed in on SYF. Citigroup assumed coverage on shares of Synchrony Financial in a report on Thursday. They set a “neutral” rating and a $37.00 price objective for the company. ValuEngine cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Wednesday, January 31st. Buckingham Research assumed coverage on shares of Synchrony Financial in a report on Wednesday, March 14th. They set a “buy” rating and a $42.00 price objective for the company. Finally, UBS began coverage on shares of Synchrony Financial in a report on Tuesday, March 27th. They set a “sell” rating and a $32.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $38.10.

Shares of SYF traded down $0.99 during mid-day trading on Friday, hitting $33.81. 4,349,842 shares of the company traded hands, compared to its average volume of 6,364,464. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.46. Synchrony Financial has a 1 year low of $26.01 and a 1 year high of $40.59. The stock has a market capitalization of $25,702.94, a price-to-earnings ratio of 12.90, a PEG ratio of 1.30 and a beta of 1.12.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, January 19th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the company earned $0.70 earnings per share.

In other news, insider Margaret M. Keane sold 13,138 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $36.70, for a total value of $482,164.60. Following the transaction, the insider now owns 440,169 shares of the company’s stock, valued at $16,154,202.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Neeraj Mehta sold 2,299 shares of the business’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $32.69, for a total transaction of $75,154.31. Following the completion of the transaction, the insider now directly owns 65,867 shares in the company, valued at approximately $2,153,192.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,149 shares of company stock valued at $1,030,771. Company insiders own 0.03% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. CI Investments Inc. lifted its holdings in shares of 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 worth $450,764,000 after buying an additional 714,233 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Synchrony Financial by 6.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 7,735,326 shares of the financial services provider’s stock worth $298,661,000 after buying an additional 468,586 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Synchrony Financial by 30.3% in the fourth quarter. Bank of Montreal Can now owns 5,521,901 shares of the financial services provider’s stock worth $213,200,000 after buying an additional 1,284,298 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Synchrony Financial by 14.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,712,842 shares of the financial services provider’s stock worth $181,963,000 after buying an additional 603,100 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Synchrony Financial by 1.3% in the third quarter. Legal & General Group Plc now owns 4,223,135 shares of the financial services provider’s stock worth $131,135,000 after buying an additional 56,003 shares in the last quarter. 88.66% 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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Earnings History and Estimates for Synchrony Financial (NYSE:SYF)

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