$3.96 Billion in Sales Expected for Synchrony Financial (SYF) This Quarter
Analysts predict that Synchrony Financial (NYSE:SYF) will post sales of $3.96 billion for the current quarter, according to Zacks. Four analysts have issued estimates for Synchrony Financial’s earnings. The highest sales estimate is $4.00 billion and the lowest is $3.92 billion. Synchrony Financial posted sales of $3.63 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The firm is expected to report its next earnings report on Friday, October 20th.
On average, analysts expect that Synchrony Financial will report full-year sales of $3.96 billion for the current fiscal year, with estimates ranging from $14.93 billion to $15.02 billion. For the next year, analysts anticipate that the company will post sales of $16.29 billion per share, with estimates ranging from $16.03 billion to $16.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Synchrony Financial.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the business earned $0.73 earnings per share.
Several research analysts have recently weighed in on SYF shares. Instinet reiterated a “buy” rating and set a $35.00 price objective (down from $38.00) on shares of Synchrony Financial in a report on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a report on Friday, July 14th. BMO Capital Markets reiterated a “buy” rating on shares of Synchrony Financial in a report on Friday, July 21st. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Synchrony Financial in a report on Saturday, July 22nd. Finally, 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. Twelve research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Synchrony Financial presently has a consensus rating of “Buy” and a consensus target price of $36.63.
A number of large investors have recently modified their holdings of SYF. Berkshire Hathaway Inc. acquired a new stake in Synchrony Financial in the second quarter valued at approximately $520,747,000. Janus Henderson Group PLC grew its position in Synchrony Financial by 1,820.5% in the second quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock valued at $326,070,000 after acquiring an additional 10,365,219 shares in the last quarter. FMR LLC grew its position in Synchrony Financial by 27.1% in the second quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after acquiring an additional 7,874,689 shares in the last quarter. Capital World Investors acquired a new stake in Synchrony Financial in the second quarter valued at approximately $202,269,000. Finally, Boston Partners grew its position in Synchrony Financial by 39.3% in the second quarter. Boston Partners now owns 12,891,959 shares of the financial services provider’s stock valued at $384,439,000 after acquiring an additional 3,637,487 shares in the last quarter. 87.03% of the stock is owned by institutional investors.
Shares of Synchrony Financial (NYSE SYF) opened at 32.68 on Tuesday. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. The firm has a market capitalization of $25.99 billion, a PE ratio of 12.27 and a beta of 1.01. The firm’s 50 day moving average is $30.46 and its 200-day moving average is $29.88.
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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