Synchrony Financial (SYF) Stock Rating Reaffirmed by BTIG Research
Synchrony Financial (NYSE:SYF)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a report released on Wednesday. They presently have a $36.00 price objective on the financial services provider’s stock. BTIG Research’s price objective would indicate a potential upside of 34.13% from the company’s current price.
The analysts wrote, “Is SYF Poised to Repeat 2016 Stock Price Rebound? We are reiterating our Buy recommendation on Synchrony Financial (SYF) and price target of $36 based on 11x our FY18E earnings per share of $3.31 following the company’s announcement on Thursday of a share buyback program that was both earlier than expected as well as larger than anticipated. We have increased our FY18E EPS estimate from $3.25 to $3.31 reflect the impact of the buyback program. We were somewhat surprised by the market’s muted reaction on Friday to SYF’s announcement that its board had approved a larger- than-expected $1.64bn share buyback program. While SYF shares increased by as much as 5% after the announcement, which occurred perhaps a month sooner than expected, they faded and the stock closed up by only 1.3%.””
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Synchrony Financial from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 4th. TheStreet downgraded shares of Synchrony Financial from a “b” rating to a “c+” rating in a research note on Wednesday, May 3rd. Guggenheim downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $38.00 to $32.00 in a research note on Wednesday, May 3rd. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Synchrony Financial in a research note on Sunday, April 30th. Finally, Barclays PLC increased their price target on shares of Synchrony Financial from $36.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Synchrony Financial currently has an average rating of “Buy” and a consensus price target of $37.71.
Shares of Synchrony Financial (NYSE:SYF) traded down 0.15% during mid-day trading on Wednesday, hitting $26.80. The stock had a trading volume of 9,157,277 shares. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $38.06. The firm has a market capitalization of $21.74 billion, a price-to-earnings ratio of 10.23 and a beta of 1.06. The stock’s 50-day moving average is $30.30 and its 200 day moving average is $34.11.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, April 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.13. Synchrony Financial had a return on equity of 16.34% and a net margin of 15.15%. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the company earned $0.70 earnings per share. Equities research analysts predict that Synchrony Financial will post $2.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, May 4th. Synchrony Financial’s payout ratio is 19.19%.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was stolen and republished in violation of international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/05/24/synchrony-financial-syf-stock-rating-reaffirmed-by-btig-research.html.
In other news, insider David P. Melito sold 748 shares of the stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $34.24, for a total transaction of $25,611.52. Following the sale, the insider now owns 43,390 shares in the company, valued at $1,485,673.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Will W. Graylin purchased 18,000 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were purchased at an average price of $27.80 per share, for a total transaction of $500,400.00. Following the acquisition, the director now owns 55,389 shares of the company’s stock, valued at $1,539,814.20. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 9,457 shares of company stock worth $339,056. Corporate insiders own 0.02% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. boosted its stake in Synchrony Financial by 41.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,280 shares of the financial services provider’s stock worth $113,000 after buying an additional 965 shares during the last quarter. WFG Advisors LP boosted its stake in Synchrony Financial by 177,871.4% in the fourth quarter. WFG Advisors LP now owns 12,458 shares of the financial services provider’s stock worth $117,000 after buying an additional 12,451 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in Synchrony Financial by 50.2% in the third quarter. Commonwealth Bank of Australia now owns 4,562 shares of the financial services provider’s stock worth $128,000 after buying an additional 1,525 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Synchrony Financial during the first quarter worth approximately $152,000. Finally, Coconut Grove Bank boosted its stake in Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock worth $154,000 after buying an additional 2,170 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.
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.
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.