Synchrony Financial (NYSE:SYF) – Equities research analysts at Jefferies Group boosted their Q2 2018 EPS estimates for Synchrony Financial in a note issued to investors on Wednesday. Jefferies Group analyst J. Hecht now expects that the financial services provider will post earnings of $0.92 per share for the quarter, up from their prior estimate of $0.79. Jefferies Group has a “Buy” rating and a $44.00 price target on the stock. Jefferies Group also issued estimates for Synchrony Financial’s Q3 2018 earnings at $0.84 EPS, FY2018 earnings at $3.50 EPS, Q1 2019 earnings at $1.27 EPS and FY2019 earnings at $4.20 EPS.
A number of other research analysts have also recently weighed in on SYF. Zacks Investment Research cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Bank of America cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $33.00 in a report on Friday, October 6th. Wells Fargo & Co initiated coverage on shares of Synchrony Financial in a report on Tuesday, October 10th. They issued a “market perform” rating and a $33.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a report on Thursday, October 12th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a report on Friday, October 20th. Ten research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $38.30.
Synchrony Financial (SYF) traded up $0.10 on Friday, reaching $39.76. 6,144,200 shares of the company’s stock were exchanged, compared to its average volume of 5,163,950. Synchrony Financial has a one year low of $26.01 and a one year high of $40.17. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $31,120.00, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.78 billion. During the same period in the previous year, the firm posted $0.73 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in SYF. Westside Investment Management Inc. grew its stake in Synchrony Financial by 32.1% during the 2nd quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 867 shares in the last quarter. Patten Group Inc. grew its stake in Synchrony Financial by 3,019.4% during the 3rd quarter. Patten Group Inc. now owns 106,713 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 103,292 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Synchrony Financial by 9.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 486 shares in the last quarter. Highlander Capital Management LLC grew its stake in Synchrony Financial by 83.6% during the 2nd quarter. Highlander Capital Management LLC now owns 5,492 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Sun Life Financial INC grew its stake in Synchrony Financial by 40,207.1% during the 2nd quarter. Sun Life Financial INC now owns 5,643 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 5,629 shares in the last quarter. 85.46% of the stock is owned by institutional investors.
In other news, insider David P. Melito sold 1,881 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $38.00, for a total transaction of $71,478.00. Following the completion of the sale, the insider now owns 43,140 shares of the company’s stock, valued at $1,639,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David P. Melito sold 2,580 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total transaction of $90,300.00. The disclosure for this sale can be found here. Insiders have sold 6,961 shares of company stock valued at $244,508 in the last three months. Corporate insiders own 0.03% 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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