Synchrony Financial (SYF) Receives $37.88 Consensus Target Price from Brokerages

Synchrony Financial (NYSE:SYF) has been given an average rating of “Hold” by the twenty ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $37.88.

A number of brokerages have recently issued reports on SYF. Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Monday, October 8th. ValuEngine lowered shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Bank of America lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Wednesday, September 26th. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research note on Monday, August 6th. Finally, UBS Group raised shares of Synchrony Financial from a “sell” rating to a “neutral” rating and boosted their target price for the company from $32.00 to $33.00 in a research note on Friday, August 3rd.

SYF stock traded up $1.72 during mid-day trading on Wednesday, reaching $31.36. 10,184,850 shares of the stock traded hands, compared to its average volume of 4,615,902. The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 0.84 and a beta of 1.06. Synchrony Financial has a one year low of $28.64 and a one year high of $40.59.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, October 19th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.11. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.18 billion. Synchrony Financial had a net margin of 13.39% and a return on equity of 16.96%. During the same period in the previous year, the firm earned $0.70 earnings per share. Equities research analysts forecast that Synchrony Financial will post 3.4 earnings per share for the current fiscal year.

In other Synchrony Financial news, Director Roy A. Guthrie acquired 10,000 shares of the stock in a transaction that occurred on Monday, July 30th. The stock was bought at an average cost of $29.53 per share, with a total value of $295,300.00. Following the completion of the purchase, the director now directly owns 47,997 shares in the company, valued at $1,417,351.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC lifted its stake in Synchrony Financial by 37.5% in the third quarter. Cornerstone Wealth Management LLC now owns 99,885 shares of the financial services provider’s stock worth $3,177,000 after acquiring an additional 27,264 shares during the period. PL Capital Advisors LLC raised its holdings in Synchrony Financial by 100.0% in the third quarter. PL Capital Advisors LLC now owns 200,000 shares of the financial services provider’s stock worth $6,216,000 after purchasing an additional 100,000 shares in the last quarter. Oakbrook Investments LLC raised its holdings in Synchrony Financial by 37.7% in the third quarter. Oakbrook Investments LLC now owns 85,690 shares of the financial services provider’s stock worth $2,663,000 after purchasing an additional 23,450 shares in the last quarter. Tealwood Asset Management Inc. raised its holdings in Synchrony Financial by 87.0% in the third quarter. Tealwood Asset Management Inc. now owns 62,114 shares of the financial services provider’s stock worth $1,931,000 after purchasing an additional 28,892 shares in the last quarter. Finally, RWC Asset Management LLP raised its holdings in Synchrony Financial by 13.0% in the third quarter. RWC Asset Management LLP now owns 716,938 shares of the financial services provider’s stock worth $22,282,000 after purchasing an additional 82,232 shares in the last quarter. 85.12% of the stock is owned by institutional investors.

About Synchrony Financial

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.

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Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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