Synchrony Financial (NYSE: SYF – Get a rating) – Investment analysts at Jefferies Financial Group raised their third quarter 2022 earnings per share estimates for shares of Synchrony Financial in a report released Monday, April 18. Jefferies Financial Group analyst J. Hecht now expects the financial services provider to post earnings per share of $1.28 for the quarter, up from its previous estimate of 1.24. $. Jefferies Financial Group also released estimates for Synchrony Financial’s Q4 2022 earnings at $1.23 EPS, Q1 2023 earnings at $1.75 EPS and Q4 2023 earnings at $1.07 EPS.
Several other analysts have also recently released reports on SYF. StockNews.com began covering Synchrony Financial in a research report on Thursday, March 31. They issued a “holding” rating on the stock. Bank of America reduced its target price on Synchrony Financial from $52.00 to $45.00 in a Thursday, March 17 research report. Barclays raised its target price on Synchrony Financial from $63.00 to $64.00 in a Monday, January 10 research report. Wolfe Research downgraded Synchrony Financial from an “outperforming” rating to a “market performing” rating in a Thursday, March 17 research report. Finally, Goldman Sachs Group raised its target price on Synchrony Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. Eight research analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Buy” and an average price target of $52.53.
Shares of NYSE: SYF opened at $40.48 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.25 and a debt ratio of 1.12. Synchrony Financial has a 52-week low of $33.76 and a 52-week high of $52.49. The stock’s fifty-day simple moving average is $38.43 and its 200-day simple moving average is $44.23. The company has a market capitalization of $20.49 billion, a P/E ratio of 5.52, a P/E/G ratio of 0.29 and a beta of 1.60.
Synchrony Financial (NYSE: SYF – Get a rating) last released its quarterly earnings data on Monday, April 18. The financial services provider reported earnings per share (EPS) of $1.77 for the quarter, beating Thomson Reuters consensus estimate of $1.54 by $0.23. Synchrony Financial had a return on equity of 30.77% and a net margin of 27.27%. During the same period of the previous year, the company achieved EPS of $1.73.
A number of hedge funds and other institutional investors have recently changed their holdings in the company. Signaturefd LLC increased its stake in Synchrony Financial by 3.9% in the third quarter. Signaturefd LLC now owns 6,904 shares of the financial services provider worth $337,000 after buying 261 additional shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Synchrony Financial by 26.7% in the third quarter. Janney Montgomery Scott LLC now owns 39,977 shares of the financial services provider worth $1,954,000 after buying 8,414 additional shares in the last quarter. Nordea Investment Management AB increased its stake in Synchrony Financial by 103.0% in the third quarter. Nordea Investment Management AB now owns 3,400,164 shares of the financial services provider worth $171,164,000 after buying an additional 1,725,009 shares in the last quarter. ING Groep NV increased its stake in Synchrony Financial by 7.7% during the 3rd quarter. ING Groep NV now owns 47,829 shares of the financial services provider worth $2,338,000 after buying an additional 3,406 shares in the last quarter. Finally, Dumont & Blake Investment Advisors LLC increased its stake in Synchrony Financial by 2.5% during the 3rd quarter. Dumont & Blake Investment Advisors LLC now owns 46,952 shares of the financial services provider worth $2,295,000 after buying 1,135 additional shares in the last quarter. Hedge funds and other institutional investors hold 93.86% of the company’s shares.
In other Synchrony Financial news, an insider David P. Melito sold 9,351 shares of the company in a transaction that took place on Thursday, January 27. The stock was sold at an average price of $46.05, for a total transaction of $430,613.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. 0.44% of the shares are currently held by insiders of the company.
Synchrony Financial said its board approved a stock buyback program on Monday, April 18 that allows the company to repurchase $2.80 billion of outstanding stock. This repurchase authorization allows the financial services provider to purchase up to 13.6% of its shares through purchases on the open market. Stock buyback programs usually indicate that the management of the company believes that its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 15. Shareholders of record on Thursday, February 10 received a dividend of $0.22. The ex-dividend date was Wednesday, February 9. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 2.17%. Synchrony Financial’s dividend payout ratio (DPR) is currently 12.01%.
Synchrony Financial Company Profile (Get a rating)
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products and consumer installment loans. The company also offers private label credit cards, dual cards, co-branded and general purpose credit cards, short and long term installment loans and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.
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