Synchrony Financial (SYF) Earns Buy Rating from Nomura
Synchrony Financial (NYSE:SYF)‘s stock had its “buy” rating restated by equities researchers at Nomura in a research report issued on Thursday. They currently have a $34.00 target price on the stock. Nomura’s price objective indicates a potential upside of 25.65% from the company’s current price.
A number of other analysts have also issued reports on SYF. Citigroup Inc. reiterated a “buy” rating and set a $31.00 price target (down from $38.00) on shares of Synchrony Financial in a research note on Wednesday, June 15th. BTIG Research started coverage on shares of Synchrony Financial in a research note on Sunday, July 10th. They set a “buy” rating and a $42.00 price target on the stock. DA Davidson reiterated a “buy” rating and set a $37.00 price target on shares of Synchrony Financial in a research note on Friday, June 17th. Bank of America Corp. reiterated a “neutral” rating and set a $30.00 price target (up from $28.00) on shares of Synchrony Financial in a research note on Tuesday, July 26th. Finally, Jefferies Group reiterated a “buy” rating on shares of Synchrony Financial in a research note on Sunday, May 29th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $40.42.
Shares of Synchrony Financial (NYSE:SYF) traded up 0.3330% during trading on Thursday, hitting $27.1501. 1,279,630 shares of the company traded hands. The stock has a market capitalization of $22.64 billion, a PE ratio of 10.3626 and a beta of 0.92. The company has a 50-day moving average of $27.40 and a 200-day moving average of $28.32. Synchrony Financial has a 52-week low of $23.25 and a 52-week high of $34.60.
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Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. Synchrony Financial had a net margin of 15.63% and a return on equity of 16.97%. During the same period last year, the company posted $0.65 EPS. Equities analysts expect that Synchrony Financial will post $2.63 EPS for the current year.
The company also recently disclosed a special dividend, which was paid on Thursday, August 25th. Shareholders of record on Friday, August 12th were paid a $0.13 dividend. The ex-dividend date was Wednesday, August 10th. Synchrony Financial’s dividend payout ratio is currently 19.85%.
A number of large investors have recently modified their holdings of the stock. D Orazio & Associates Inc. boosted its stake in shares of Synchrony Financial by 75.0% in the second quarter. D Orazio & Associates Inc. now owns 4,200 shares of the company’s stock worth $106,000 after buying an additional 1,800 shares in the last quarter. Societe Generale bought a new stake in Synchrony Financial during the second quarter valued at approximately $118,000. Daiwa SB Investments Ltd. boosted its stake in Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock valued at $130,000 after buying an additional 410 shares during the period. Euclid Advisors LLC bought a new stake in Synchrony Financial during the second quarter valued at approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Synchrony Financial by 58.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,688 shares of the company’s stock valued at $144,000 after buying an additional 2,090 shares during the period. Institutional investors own 88.04% of the company’s stock.
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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