Zacks: Brokerages Anticipate Synchrony Financial (SYF) to Announce $0.70 Earnings Per Share
Brokerages forecast that Synchrony Financial (NYSE:SYF) will report $0.70 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Synchrony Financial’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.75. Synchrony Financial also reported earnings of $0.70 per share in the same quarter last year. The business is expected to issue its next earnings report on Friday, October 20th.
On average, analysts expect that Synchrony Financial will report full year earnings of $2.59 per share for the current fiscal year, with EPS estimates ranging from $2.52 to $2.62. For the next year, analysts expect that the company will post earnings of $3.23 per share, with EPS estimates ranging from $3.00 to $3.56. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Synchrony Financial.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.78 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same period last year, the company earned $0.73 earnings per share.
Several brokerages have recently commented on SYF. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Friday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $39.00 price target on shares of Synchrony Financial in a research note on Thursday, October 12th. Wells Fargo & Company began coverage on Synchrony Financial in a research note on Tuesday, October 10th. They issued a “market perform” rating and a $33.00 price target on the stock. Bank of America Corporation lowered Synchrony Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $35.00 to $33.00 in a research note on Friday, October 6th. Finally, Zacks Investment Research lowered Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Synchrony Financial has a consensus rating of “Buy” and a consensus target price of $36.63.
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In other Synchrony Financial news, Director Paget Leonard Alves acquired 2,000 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were acquired at an average price of $30.85 per share, for a total transaction of $61,700.00. Following the acquisition, the director now owns 8,521 shares in the company, valued at approximately $262,872.85. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.03% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Bbva Compass Bancshares Inc. grew its stake in Synchrony Financial by 0.3% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 32,000 shares of the financial services provider’s stock worth $954,000 after buying an additional 94 shares during the last quarter. ING Groep NV grew its stake in Synchrony Financial by 0.4% during the 2nd quarter. ING Groep NV now owns 39,434 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 140 shares during the last quarter. Patten Group Inc. grew its stake in Synchrony Financial by 2.0% during the 1st quarter. Patten Group Inc. now owns 8,435 shares of the financial services provider’s stock worth $280,000 after buying an additional 165 shares during the last quarter. Federated Investors Inc. PA grew its stake in Synchrony Financial by 0.6% during the 2nd quarter. Federated Investors Inc. PA now owns 26,333 shares of the financial services provider’s stock worth $786,000 after buying an additional 166 shares during the last quarter. Finally, Parsons Capital Management Inc. RI grew its stake in Synchrony Financial by 1.2% during the 1st quarter. Parsons Capital Management Inc. RI now owns 25,860 shares of the financial services provider’s stock worth $887,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.
Shares of Synchrony Financial (NYSE SYF) traded up 4.19% during mid-day trading on Friday, reaching $33.04. The company had a trading volume of 15,400,879 shares. The company has a market capitalization of $26.28 billion, a PE ratio of 12.42 and a beta of 1.01. The stock’s 50-day moving average price is $30.41 and its 200 day moving average price is $29.93. Synchrony Financial has a 1-year low of $26.01 and a 1-year 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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