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.
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.
TRADEMARK VIOLATION WARNING: This report was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://www.dispatchtribunal.com/2018/04/14/jefferies-group-comments-on-synchrony-financials-q2-2018-earnings-syf.html.
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.
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.