Synchrony Financial (NYSE:SYF) received a $41.00 price target from stock analysts at Wedbush in a note issued to investors on Monday. The firm currently has a “hold” rating on the financial services provider’s stock. Wedbush’s price target points to a potential upside of 9.74% from the stock’s previous close.
Several other brokerages have also recently issued reports on SYF. Jefferies Group boosted their price objective on shares of Synchrony Financial to $44.00 and gave the company a “top pick” rating in a research note on Friday, December 1st. Barclays reissued a “buy” rating and set a $43.00 price objective on shares of Synchrony Financial in a research note on Tuesday, November 21st. Wells Fargo & Company lifted their target price on shares of Synchrony Financial from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Synchrony Financial from a “strong sell” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Morgan Stanley lifted their target price on shares of Synchrony Financial from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Synchrony Financial currently has a consensus rating of “Buy” and a consensus price target of $37.35.
Shares of Synchrony Financial (NYSE SYF) opened at $37.36 on Monday. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. The stock has a market cap of $29,347.19, a price-to-earnings ratio of 14.31, a PEG ratio of 1.89 and a beta of 1.06. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.38.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the company earned $0.73 EPS. sell-side analysts predict that Synchrony Financial will post 2.59 earnings per share for the current fiscal year.
In other news, Director Olympia J. Snowe acquired 3,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were purchased at an average price of $33.40 per share, for a total transaction of $100,200.00. Following the acquisition, the director now directly owns 10,608 shares of the company’s stock, valued at approximately $354,307.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David P. Melito sold 1,881 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $38.00, for a total transaction of $71,478.00. Following the completion of the transaction, the insider now owns 43,140 shares in the company, valued at approximately $1,639,320. The disclosure for this sale can be found here. Insiders sold a total of 6,961 shares of company stock worth $244,508 in the last quarter. 0.03% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Synchrony Financial by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock worth $1,557,609,000 after buying an additional 956,331 shares in the last quarter. FMR LLC raised its stake in shares of Synchrony Financial by 27.1% in the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after purchasing an additional 7,874,689 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Synchrony Financial by 2.1% in the 3rd quarter. First Eagle Investment Management LLC now owns 17,666,015 shares of the financial services provider’s stock valued at $548,530,000 after purchasing an additional 362,810 shares in the last quarter. Berkshire Hathaway Inc. acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $520,747,000. Finally, CI Investments Inc. raised its stake in shares of Synchrony Financial by 7.5% in the 3rd quarter. CI Investments Inc. now owns 10,960,562 shares of the financial services provider’s stock valued at $340,325,000 after purchasing an additional 766,368 shares in the last quarter. Hedge funds and other institutional investors own 85.77% of the company’s stock.
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About Synchrony Financial
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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