Zacks: Brokerages Anticipate Synchrony Financial (SYF) to Post $0.65 Earnings Per Share
Brokerages predict that Synchrony Financial (NYSE:SYF) will report earnings of $0.65 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Synchrony Financial’s earnings, with estimates ranging from $0.62 to $0.69. Synchrony Financial reported earnings per share of $0.73 during the same quarter last year, which indicates a negative year over year growth rate of 11%. The business is expected to report its next quarterly earnings results on Friday, October 20th.
On average, analysts expect that Synchrony Financial will report full year earnings of $2.58 per share for the current fiscal year, with EPS estimates ranging from $2.52 to $2.65. For the next fiscal year, analysts anticipate that the company will post earnings of $3.18 per share, with EPS estimates ranging from $3.00 to $3.34. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Synchrony Financial.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. The firm 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 15.30% and a net margin of 13.84%. During the same quarter last year, the firm posted $0.58 EPS.
Several research analysts have recently weighed in on the stock. Morgan Stanley lowered shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $35.00 to $32.00 in a research note on Friday, September 8th. BMO Capital Markets reiterated a “buy” rating and issued a $40.00 target price on shares of Synchrony Financial in a research note on Friday, August 25th. BidaskClub upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price target on shares of Synchrony Financial in a report on Thursday, September 21st. Finally, TheStreet upgraded Synchrony Financial from a “c” rating to a “b” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $37.61.
In other Synchrony Financial news, Director Paget Leonard Alves bought 2,000 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were purchased at an average price of $30.85 per share, for a total transaction of $61,700.00. Following the transaction, the director now directly owns 8,521 shares in the company, valued at approximately $262,872.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.03% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Norman Fields Gottscho Capital Management LLC acquired a new stake in shares of Synchrony Financial in the third quarter valued at approximately $3,620,000. Lord Abbett & CO. LLC boosted its stake in shares of Synchrony Financial by 26.6% in the second quarter. Lord Abbett & CO. LLC now owns 491,800 shares of the financial services provider’s stock valued at $14,665,000 after buying an additional 103,300 shares during the period. USA Financial Portformulas Corp bought a new stake in shares of Synchrony Financial in the second quarter valued at approximately $433,000. Advisory Services Network LLC boosted its stake in shares of Synchrony Financial by 18.7% in the second quarter. Advisory Services Network LLC now owns 12,571 shares of the financial services provider’s stock valued at $375,000 after buying an additional 1,977 shares during the period. Finally, Afam Capital Inc. boosted its stake in shares of Synchrony Financial by 9.7% in the second quarter. Afam Capital Inc. now owns 49,313 shares of the financial services provider’s stock valued at $1,471,000 after buying an additional 4,378 shares during the period. 87.06% of the stock is currently owned by institutional investors.
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Shares of Synchrony Financial (SYF) traded up 0.76% on Tuesday, reaching $31.72. The company’s stock had a trading volume of 5,916,553 shares. The company’s 50 day moving average is $29.97 and its 200-day moving average is $30.10. The firm has a market cap of $25.23 billion, a price-to-earnings ratio of 11.91 and a beta of 1.01. Synchrony Financial has a 1-year low of $26.01 and a 1-year high of $38.06.
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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