Equities analysts expect Synchrony Financial (NYSE:SYF) to announce sales of $4.21 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Synchrony Financial’s earnings, with the lowest sales estimate coming in at $4.16 billion and the highest estimate coming in at $4.24 billion. Synchrony Financial reported sales of $3.74 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 12.6%. The business is expected to report its next earnings report on Friday, July 26th.
According to Zacks, analysts expect that Synchrony Financial will report full-year sales of $16.88 billion for the current fiscal year, with estimates ranging from $16.73 billion to $16.98 billion. For the next fiscal year, analysts expect that the company will post sales of $16.58 billion, with estimates ranging from $16.03 billion to $17.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Synchrony Financial.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. Synchrony Financial had a net margin of 17.52% and a return on equity of 19.79%. During the same quarter in the previous year, the company posted $0.83 earnings per share.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 price objective on shares of Synchrony Financial in a report on Friday, May 3rd. Wells Fargo & Co reaffirmed a “buy” rating on shares of Synchrony Financial in a report on Wednesday, March 13th. Finally, Morgan Stanley lifted their price objective on shares of Synchrony Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Synchrony Financial presently has an average rating of “Buy” and a consensus price target of $37.47.
In other news, insider David P. Melito sold 6,014 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $34.25, for a total transaction of $205,979.50. Following the completion of the transaction, the insider now owns 29,476 shares of the company’s stock, valued at $1,009,553. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David P. Melito sold 3,204 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $34.00, for a total transaction of $108,936.00. Following the transaction, the insider now directly owns 29,476 shares of the company’s stock, valued at approximately $1,002,184. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SYF. Norges Bank bought a new stake in shares of Synchrony Financial during the fourth quarter valued at about $168,722,000. Southpoint Capital Advisors LP bought a new stake in shares of Synchrony Financial during the first quarter valued at about $157,985,000. AQR Capital Management LLC raised its stake in shares of Synchrony Financial by 65.2% during the first quarter. AQR Capital Management LLC now owns 10,848,426 shares of the financial services provider’s stock valued at $346,065,000 after purchasing an additional 4,281,422 shares in the last quarter. Millennium Management LLC raised its stake in shares of Synchrony Financial by 163.6% during the fourth quarter. Millennium Management LLC now owns 3,032,475 shares of the financial services provider’s stock valued at $71,142,000 after purchasing an additional 1,881,871 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Synchrony Financial by 2,218.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,810,995 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 1,732,885 shares in the last quarter. Institutional investors and hedge funds own 85.10% of the company’s stock.
Synchrony Financial stock opened at $33.95 on Wednesday. The firm has a market capitalization of $23.29 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.03 and a beta of 1.23. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.39 and a quick ratio of 1.27. Synchrony Financial has a 12 month low of $21.77 and a 12 month high of $35.50.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, May 3rd. Synchrony Financial’s dividend payout ratio (DPR) is 22.46%.
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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