$3.78 Billion in Sales Expected for Synchrony Financial (SYF) This Quarter
Equities research analysts predict that Synchrony Financial (NYSE:SYF) will report $3.78 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Synchrony Financial’s earnings. The highest sales estimate is $3.81 billion and the lowest is $3.75 billion. Synchrony Financial posted sales of $3.48 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The firm is expected to announce its next earnings report on Friday, October 20th.
On average, analysts expect that Synchrony Financial will report full year sales of $3.78 billion for the current fiscal year, with estimates ranging from $14.93 billion to $14.97 billion. For the next year, analysts forecast that the business will report sales of $16.14 billion per share, with estimates ranging from $16.03 billion to $16.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the business earned $0.58 earnings per share.
Several brokerages have recently weighed in on SYF. Morgan Stanley reiterated an “overweight” rating and set a $35.00 price objective (up from $33.00) on shares of Synchrony Financial in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Synchrony Financial in a report on Saturday, July 22nd. BMO Capital Markets reiterated a “buy” rating on shares of Synchrony Financial in a report on Friday, July 21st. BidaskClub upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, TheStreet upgraded shares of Synchrony Financial from a “c” rating to a “b” rating in a report on Monday, July 31st. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.42.
In other news, Director Paget Leonard Alves acquired 2,000 shares of the stock in a transaction on Monday, July 24th. The stock was bought at an average price of $30.85 per share, with a total value of $61,700.00. Following the completion of the transaction, the director now directly owns 8,521 shares of the company’s stock, valued at $262,872.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.03% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of SYF. Strs Ohio grew its position in Synchrony Financial by 6.2% in the first quarter. Strs Ohio now owns 25,341 shares of the financial services provider’s stock valued at $869,000 after acquiring an additional 1,490 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Synchrony Financial by 44.5% in the first quarter. UBS Asset Management Americas Inc. now owns 5,139,947 shares of the financial services provider’s stock valued at $176,300,000 after acquiring an additional 1,581,883 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Synchrony Financial in the first quarter valued at approximately $4,903,000. Sei Investments Co. grew its position in Synchrony Financial by 24.3% in the first quarter. Sei Investments Co. now owns 233,118 shares of the financial services provider’s stock valued at $7,995,000 after acquiring an additional 45,512 shares in the last quarter. Finally, Neuburgh Advisers LLC grew its position in Synchrony Financial by 6.1% in the first quarter. Neuburgh Advisers LLC now owns 14,176 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 816 shares in the last quarter. 87.18% of the stock is owned by institutional investors.
Shares of Synchrony Financial (NYSE SYF) traded up 1.11% during mid-day trading on Friday, hitting $29.02. 11,003,615 shares of the stock traded hands. The firm’s 50 day moving average price is $29.97 and its 200 day moving average price is $30.66. The firm has a market cap of $23.08 billion, a price-to-earnings ratio of 10.90 and a beta of 1.01. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06.
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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