Equities analysts predict that Synchrony Financial (NYSE:SYF) will post $3.80 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Synchrony Financial’s earnings, with the lowest sales estimate coming in at $3.77 billion and the highest estimate coming in at $3.82 billion. Synchrony Financial reported sales of $3.48 billion in the same quarter last year, which would suggest a positive year over year growth rate of 9.2%. The company is scheduled to issue its next quarterly earnings results on Friday, July 21st.

According to Zacks, analysts expect that Synchrony Financial will report full-year sales of $3.80 billion for the current financial year, with estimates ranging from $14.86 billion to $15.10 billion. For the next financial year, analysts forecast that the firm will post sales of $16.12 billion per share, with estimates ranging from $15.67 billion to $16.56 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Synchrony Financial.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.59 billion. Synchrony Financial had a return on equity of 15.42% and a net margin of 14.21%. During the same quarter last year, the company earned $0.58 earnings per share.

SYF has been the topic of several research analyst reports. Goldman Sachs Group, Inc. (The) downgraded Synchrony Financial from a “conviction-buy” rating to a “neutral” rating and dropped their price objective for the company from $44.00 to $33.00 in a research note on Friday, April 28th. Guggenheim downgraded Synchrony Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $38.00 to $32.00 in a research note on Wednesday, May 3rd. Barclays PLC upped their price objective on Synchrony Financial from $36.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, May 1st. Oppenheimer Holdings, Inc. assumed coverage on Synchrony Financial in a research report on Tuesday, April 11th. They set a “market perform” rating on the stock. Finally, Stephens downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $44.00 to $29.00 in a research report on Monday, May 1st. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.58.

COPYRIGHT VIOLATION NOTICE: This article was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/07/22/zacks-analysts-anticipate-synchrony-financial-nysesyf-will-post-quarterly-sales-of-3-80-billion.html.

In other Synchrony Financial news, Director Will W. Graylin bought 18,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was acquired at an average price of $27.80 per share, with a total value of $500,400.00. Following the completion of the purchase, the director now owns 55,389 shares of the company’s stock, valued at $1,539,814.20. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.03% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in SYF. First Quadrant L P CA increased its stake in shares of Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after buying an additional 1,328 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of 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 valued at $113,000 after buying an additional 965 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Synchrony Financial during the first quarter valued at $152,000. Coconut Grove Bank increased its stake in shares of Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock valued at $154,000 after buying an additional 2,170 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Synchrony Financial by 28.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,901 shares of the financial services provider’s stock valued at $168,000 after buying an additional 1,077 shares during the period. 88.04% of the stock is owned by institutional investors.

Shares of Synchrony Financial (NYSE:SYF) traded up 4.54% during trading on Friday, hitting $30.87. The stock had a trading volume of 11,172,344 shares. Synchrony Financial has a 52 week low of $26.01 and a 52 week high of $38.06. The company’s 50 day moving average price is $29.18 and its 200 day moving average price is $32.43. The company has a market capitalization of $25.04 billion, a price-to-earnings ratio of 11.78 and a beta of 1.02.

Synchrony Financial declared that its Board of Directors has authorized a share buyback plan on Thursday, May 18th that allows the company to buyback $1.64 billion in shares. This buyback authorization allows the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.

Get a free copy of the Zacks research report on Synchrony Financial (SYF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Synchrony Financial (NYSE:SYF)

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.