Jefferies Group Comments on Synchrony Financial’s Q2 2018 Earnings (SYF)

Synchrony Financial (NYSE:SYF) – Investment analysts at Jefferies Group cut their Q2 2018 earnings per share estimates for shares of Synchrony Financial in a research note issued on Wednesday, April 11th. Jefferies Group analyst J. Hecht now expects that the financial services provider will earn $0.77 per share for the quarter, down from their prior estimate of $0.89. Jefferies Group currently has a “Buy” rating and a $44.00 target price on the stock. Jefferies Group also issued estimates for Synchrony Financial’s Q3 2018 earnings at $1.01 EPS, Q4 2018 earnings at $0.84 EPS, FY2018 earnings at $3.34 EPS and Q3 2019 earnings at $1.16 EPS.

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Several other research firms have also weighed in on SYF. Zacks Investment Research upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, January 31st. Barclays set a $55.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a research note on Thursday, January 11th. Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a research note on Monday, January 22nd. Wells Fargo upgraded shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Tuesday, January 9th. Finally, Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. Synchrony Financial presently has a consensus rating of “Hold” and a consensus price target of $38.10.

SYF stock opened at $34.07 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.45 and a quick ratio of 1.45. Synchrony Financial has a 1-year low of $26.01 and a 1-year high of $40.59. The firm has a market cap of $26,029.83, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.33 and a beta of 1.12.

Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, January 19th. The financial services provider reported $0.70 earnings per share for the quarter, beating 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 firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share.

A number of hedge funds have recently bought and sold shares of SYF. Patten Group Inc. lifted its holdings in Synchrony Financial by 3,019.4% in the third quarter. Patten Group Inc. now owns 106,713 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 103,292 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Synchrony Financial in the third quarter worth about $192,000. Flossbach Von Storch AG acquired a new stake in Synchrony Financial in the fourth quarter worth about $202,000. TRUE Private Wealth Advisors acquired a new stake in Synchrony Financial in the fourth quarter worth about $204,000. Finally, MML Investors Services LLC acquired a new stake in Synchrony Financial in the fourth quarter worth about $217,000. 88.66% of the stock is owned by institutional investors and hedge funds.

In other news, insider Neeraj Mehta sold 2,299 shares of the company’s stock in a transaction dated Wednesday, April 4th. The shares were 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 owns 65,867 shares in the company, valued at $2,153,192.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Margaret M. Keane sold 13,138 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $36.70, for a total transaction of $482,164.60. Following the transaction, the insider now owns 440,169 shares of the company’s stock, valued at approximately $16,154,202.30. The disclosure for this sale can be found here. Insiders have sold 26,149 shares of company stock valued at $950,771 in the last 90 days. Insiders own 0.03% of the company’s stock.

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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.

Earnings History and Estimates for Synchrony Financial (NYSE:SYF)

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