Synchrony Financial (NYSE:SYF) announced its quarterly earnings data on Friday. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.06, Bloomberg Earnings reports. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the company earned $0.73 EPS.
Synchrony Financial (NYSE:SYF) opened at 33.04 on Friday. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of 12.41 and a beta of 1.01. The firm has a 50-day moving average of $30.41 and a 200 day moving average of $29.93.
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A number of equities research analysts have recently issued reports on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Friday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research note on Thursday, October 12th. BidaskClub cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. TheStreet raised shares of Synchrony Financial from a “c” rating to a “b” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research note on Thursday, September 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $36.63.
In related news, Director Paget Leonard Alves bought 2,000 shares of the stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $30.85 per share, with a total value of $61,700.00. Following the completion of the purchase, the director now owns 8,521 shares of the company’s stock, valued at $262,872.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of SYF. Massachusetts Financial Services Co. MA boosted its stake in shares of Synchrony Financial by 82.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 83,486 shares of the financial services provider’s stock valued at $2,864,000 after purchasing an additional 37,702 shares during the period. Global X Management Co. LLC boosted its stake in shares of Synchrony Financial by 28.8% during the first quarter. Global X Management Co. LLC now owns 6,226 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 1,394 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Synchrony Financial during the first quarter valued at $1,895,000. Marshall Wace North America L.P. purchased a new stake in shares of Synchrony Financial during the first quarter valued at $1,895,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Synchrony Financial by 69.2% during the first quarter. Lazard Asset Management LLC now owns 122,282 shares of the financial services provider’s stock valued at $4,193,000 after purchasing an additional 50,011 shares during the period. 87.06% of the stock is owned by hedge funds and other institutional investors.
Synchrony Financial Company Profile
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.
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