Wall Street analysts expect Synchrony Financial (NYSE:SYF) to report sales of $3.89 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Synchrony Financial’s earnings. The highest sales estimate is $3.97 billion and the lowest is $3.72 billion. Synchrony Financial posted sales of $3.59 billion during the same quarter last year, which would indicate a positive year over year growth rate of 8.4%. The firm is expected to announce its next earnings report on Friday, April 27th.
According to Zacks, analysts expect that Synchrony Financial will report full year sales of $3.89 billion for the current year, with estimates ranging from $16.33 billion to $16.88 billion. For the next financial year, analysts forecast that the business will report sales of $18.18 billion per share, with estimates ranging from $17.81 billion to $18.91 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Synchrony Financial.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, January 19th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.96 billion. Synchrony Financial had a net margin of 11.75% and a return on equity of 14.62%. During the same period in the previous year, the business earned $0.70 EPS.
A number of brokerages have weighed in on SYF. Zacks Investment Research upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, January 31st. Barclays set a $55.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a research note on Thursday, January 11th. Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a research note on Monday, January 22nd. Wells Fargo upgraded shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Tuesday, January 9th. Finally, Jefferies Group reiterated a “buy” rating and set a $44.00 target price on shares of Synchrony Financial in a research note on Tuesday, December 26th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $38.32.
In other Synchrony Financial news, insider David P. Melito sold 2,000 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the sale, the insider now owns 39,259 shares in the company, valued at approximately $1,570,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Margaret M. Keane sold 13,138 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $36.70, for a total value of $482,164.60. Following the completion of the sale, the insider now owns 440,169 shares of the company’s stock, valued at approximately $16,154,202.30. The disclosure for this sale can be found here. Insiders sold a total of 25,850 shares of company stock valued at $955,616 over the last 90 days. 0.03% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Harbour Capital Advisors LLC increased its stake in Synchrony Financial by 4.5% in the 4th quarter. Harbour Capital Advisors LLC now owns 32,630 shares of the financial services provider’s stock worth $1,260,000 after buying an additional 1,405 shares in the last quarter. BB&T Corp increased its stake in Synchrony Financial by 4.5% in the 4th quarter. BB&T Corp now owns 33,086 shares of the financial services provider’s stock worth $1,277,000 after buying an additional 1,417 shares in the last quarter. Carnick & Kubik Group LLC increased its stake in Synchrony Financial by 3.7% in the 4th quarter. Carnick & Kubik Group LLC now owns 41,991 shares of the financial services provider’s stock worth $1,621,000 after buying an additional 1,509 shares in the last quarter. Westchester Capital Management Inc. increased its stake in Synchrony Financial by 0.6% in the 4th quarter. Westchester Capital Management Inc. now owns 252,146 shares of the financial services provider’s stock worth $9,735,000 after buying an additional 1,515 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Synchrony Financial by 8.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,536 shares of the financial services provider’s stock worth $607,000 after buying an additional 1,571 shares in the last quarter. Institutional investors and hedge funds own 88.63% of the company’s stock.
Shares of Synchrony Financial (NYSE SYF) traded up $0.06 on Wednesday, reaching $35.26. 7,071,388 shares of the company’s stock were exchanged, compared to its average volume of 6,960,176. The stock has a market cap of $26,759.64, a price-to-earnings ratio of 14.63, a PEG ratio of 1.36 and a beta of 1.07. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.45 and a current ratio of 1.45. Synchrony Financial has a 1-year low of $26.01 and a 1-year high of $40.59.
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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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