Synchrony Financial (SYF) Coverage Initiated at Wedbush
Investment analysts at Wedbush began coverage on shares of Synchrony Financial (NYSE:SYF) in a research note issued to investors on Monday. The brokerage set an “outperform” rating and a $31.00 price target on the stock. Wedbush’s price objective points to a potential upside of 15.97% from the stock’s previous close.
SYF has been the subject of several other research reports. Zacks Investment Research downgraded Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. BTIG Research assumed 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. BMO Capital Markets reaffirmed a “buy” rating and issued a $108.00 price target on shares of Synchrony Financial in a report on Tuesday, July 5th. Nomura reaffirmed a “buy” rating and issued a $34.00 price target on shares of Synchrony Financial in a report on Thursday, September 22nd. Finally, Credit Suisse Group AG set a $37.00 price target on Synchrony Financial and gave the company a “buy” rating in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.87.
Synchrony Financial (NYSE:SYF) opened at 26.73 on Monday. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $34.60. The firm’s 50-day moving average price is $27.29 and its 200-day moving average price is $28.25. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of 10.20 and a beta of 0.92.
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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 for the quarter, beating the 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 quarter in the prior year, the business posted $0.65 earnings per share. Equities research analysts predict that Synchrony Financial will post $2.63 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. D Orazio & Associates Inc. raised its position 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 during the last quarter. Societe Generale purchased a new position in shares of Synchrony Financial during the second quarter worth approximately $118,000. Daiwa SB Investments Ltd. raised its position in shares of Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock worth $130,000 after buying an additional 410 shares during the last quarter. Euclid Advisors LLC purchased a new position in shares of Synchrony Financial during the second quarter worth approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Synchrony Financial by 58.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,688 shares of the company’s stock worth $144,000 after buying an additional 2,090 shares during the last quarter. Hedge funds and other institutional investors own 88.05% 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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