Synchrony Financial (SYF) Given New $35.00 Price Target at Wells Fargo & Company
Synchrony Financial (NYSE:SYF) had its price target raised by Wells Fargo & Company from $33.00 to $35.00 in a research note issued to investors on Monday. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Wells Fargo & Company’s price target would suggest a potential upside of 5.93% from the stock’s current price.
Several other analysts have also recently issued reports on SYF. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Synchrony Financial in a research report on Friday. JMP Securities upped their target price on shares of Synchrony Financial from $35.00 to $37.00 and gave the company a “market outperform” rating in a research report on Monday. Morgan Stanley upped their target price on shares of Synchrony Financial from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday. Zacks Investment Research upgraded shares of Synchrony Financial from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Bank of America Corporation cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $35.00 to $33.00 in a research report on Friday, October 6th. Twelve research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $36.63.
Synchrony Financial (NYSE:SYF) traded down 0.7049% during midday trading on Monday, reaching $32.8071. The company’s stock had a trading volume of 3,125,915 shares. The firm has a 50 day moving average price of $30.41 and a 200 day moving average price of $29.93. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06. The firm has a market cap of $26.09 billion, a P/E ratio of 12.3196 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.64 by $0.06. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. During the same quarter in the previous year, the company earned $0.73 EPS. Equities research analysts forecast that Synchrony Financial will post $2.60 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Paradigm Asset Management Co. LLC purchased a new stake in Synchrony Financial during the fourth quarter valued at approximately $5,912,000. Sentry Investment Management purchased a new stake in Synchrony Financial during the fourth quarter valued at approximately $1,941,000. Carnick & Kubik Group LLC purchased a new stake in Synchrony Financial during the second quarter valued at approximately $1,025,000. Berkshire Hathaway Inc. purchased a new stake in Synchrony Financial during the second quarter valued at approximately $520,747,000. Finally, Osborn Rohs Williams & Donohoe purchased a new stake in Synchrony Financial during the fourth quarter valued at approximately $380,000. 87.06% of the stock is owned by institutional investors.
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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