Synchrony Financial (SYF) Posts Earnings Results, Beats Expectations By $0.09 EPS

Synchrony Financial (NYSE:SYF) released its quarterly earnings data on Friday. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09, Bloomberg Earnings reports. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.89 billion. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. During the same quarter in the prior year, the firm posted $0.61 earnings per share.

SYF opened at $35.20 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $26,759.64, a price-to-earnings ratio of 12.39, a PEG ratio of 1.37 and a beta of 1.12. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $40.59.

How to Become a New Pot Stock Millionaire

A number of research firms have recently weighed in on SYF. Citigroup began coverage on Synchrony Financial in a research note on Thursday, April 5th. They set a “neutral” rating and a $37.00 price objective for the company. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Wednesday, January 31st. Barclays set a $53.00 target price on Synchrony Financial and gave the company a “buy” rating in a report on Monday, January 22nd. ValuEngine downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Wells Fargo upgraded Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $38.43.

In other Synchrony Financial news, insider Neeraj Mehta sold 2,299 shares of the stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $32.69, for a total value 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 filing with the SEC, which is available through the SEC website. Also, insider Thomas M. Quindlen sold 10,712 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $36.73, for a total value of $393,451.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,149 shares of company stock valued at $950,771. 0.07% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Harbour Capital Advisors LLC raised its holdings in Synchrony Financial by 4.5% in the fourth quarter. Harbour Capital Advisors LLC now owns 32,630 shares of the financial services provider’s stock worth $1,260,000 after purchasing an additional 1,405 shares in the last quarter. BB&T Corp raised its holdings in Synchrony Financial by 4.5% in the fourth quarter. BB&T Corp now owns 33,086 shares of the financial services provider’s stock worth $1,277,000 after purchasing an additional 1,417 shares in the last quarter. Carnick & Kubik Group LLC raised its holdings in Synchrony Financial by 3.7% in the fourth quarter. Carnick & Kubik Group LLC now owns 41,991 shares of the financial services provider’s stock worth $1,621,000 after purchasing an additional 1,509 shares in the last quarter. Westchester Capital Management Inc. raised its holdings in Synchrony Financial by 0.6% in the fourth quarter. Westchester Capital Management Inc. now owns 252,146 shares of the financial services provider’s stock worth $9,735,000 after purchasing an additional 1,515 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its holdings in shares of Synchrony Financial by 20.8% during the fourth quarter. First Allied Advisory Services Inc. now owns 9,174 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 1,578 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

WARNING: “Synchrony Financial (SYF) Posts Earnings Results, Beats Expectations By $0.09 EPS” was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.dispatchtribunal.com/2018/04/22/synchrony-financial-syf-posts-earnings-results-beats-expectations-by-0-09-eps.html.

Synchrony Financial Company Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

Earnings History for Synchrony Financial (NYSE:SYF)

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.

Leave a Reply