Synchrony Financial’s (SYF) “Buy” Rating Reaffirmed at Nomura
Synchrony Financial (NYSE:SYF)‘s stock had its “buy” rating reiterated by equities research analysts at Nomura in a research report issued on Thursday. They currently have a $34.00 target price on the stock. Nomura’s target price points to a potential upside of 25.65% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets reiterated a “buy” rating and issued a $108.00 price target on shares of Synchrony Financial in a report on Tuesday, July 5th. Jefferies Group reiterated a “buy” rating and issued a $35.00 price target on shares of Synchrony Financial in a report on Wednesday, June 29th. Deutsche Bank AG reiterated a “buy” rating and issued a $31.50 price target on shares of Synchrony Financial in a report on Thursday, August 18th. Zacks Investment Research downgraded Synchrony Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Finally, BTIG Research started coverage on Synchrony Financial in a report on Sunday, July 10th. They issued a “buy” rating and a $42.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $40.42.
Synchrony Financial (NYSE:SYF) traded up 0.04% during midday trading on Thursday, hitting $27.07. 2,293,458 shares of the stock were exchanged. The firm has a 50-day moving average price of $27.40 and a 200-day moving average price of $28.32. The stock has a market cap of $22.57 billion, a P/E ratio of 10.33 and a beta of 0.92. Synchrony Financial has a one year low of $23.25 and a one year high of $34.60.
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Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, July 22nd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.04. Synchrony Financial had a return on equity of 16.97% and a net margin of 15.63%. During the same period last year, the business posted $0.65 EPS. On average, equities research analysts anticipate that Synchrony Financial will post $2.63 EPS for the current fiscal year.
The company also recently disclosed a special dividend, which was paid on Thursday, August 25th. Stockholders of record on Friday, August 12th were issued a $0.13 dividend. The ex-dividend date was Wednesday, August 10th. Synchrony Financial’s dividend payout ratio (DPR) is 19.85%.
Several large investors have recently made changes to their positions in the stock. Douglas Lane & Associates LLC increased its stake in shares of Synchrony Financial by 9.0% in the second quarter. Douglas Lane & Associates LLC now owns 1,694,556 shares of the company’s stock valued at $42,838,000 after buying an additional 140,264 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Synchrony Financial by 20.6% in the second quarter. Nordea Investment Management AB now owns 400,902 shares of the company’s stock valued at $10,135,000 after buying an additional 68,535 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in shares of Synchrony Financial by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 215,860 shares of the company’s stock valued at $5,457,000 after buying an additional 12,843 shares in the last quarter. IBM Retirement Fund increased its stake in shares of Synchrony Financial by 0.7% in the second quarter. IBM Retirement Fund now owns 109,402 shares of the company’s stock valued at $2,850,000 after buying an additional 707 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Synchrony Financial by 3.1% in the second quarter. Capstone Asset Management Co. now owns 61,535 shares of the company’s stock valued at $1,556,000 after buying an additional 1,851 shares in the last quarter. 88.04% of the stock is owned by institutional investors and hedge funds.
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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