Synchrony Financial (SYF) Given Consensus Rating of “Buy” by Brokerages
Synchrony Financial (NYSE:SYF) has been given a consensus rating of “Buy” by the twenty-six research firms that are covering the stock, MarketBeat reports. Twelve investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $36.63.
A number of brokerages have recently commented on SYF. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Synchrony Financial in a research note on Friday, October 20th. Barclays PLC set a $40.00 price target on Synchrony Financial and gave the company a “buy” rating in a research note on Monday, October 23rd. Wells Fargo & Company lifted their price target on Synchrony Financial from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Morgan Stanley lifted their price target on Synchrony Financial from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, October 23rd. Finally, JMP Securities lifted their price target on Synchrony Financial from $35.00 to $37.00 and gave the company a “market outperform” rating in a research note on Monday, October 23rd.
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In other Synchrony Financial news, insider Jonathan S. Mothner sold 1,000 shares of Synchrony Financial stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $33.50, for a total value of $33,500.00. Following the completion of the sale, the insider now directly owns 113,578 shares in the company, valued at $3,804,863. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.03% of the company’s stock.
A number of hedge funds have recently modified their holdings of SYF. Berkshire Hathaway Inc. bought a new stake in Synchrony Financial in the second quarter worth approximately $520,747,000. Janus Henderson Group PLC increased its holdings 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 worth $326,070,000 after purchasing an additional 10,365,219 shares in the last quarter. FMR LLC increased its holdings 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 worth $1,102,267,000 after purchasing an additional 7,874,689 shares in the last quarter. Capital World Investors bought a new stake in Synchrony Financial in the second quarter worth approximately $202,269,000. Finally, Boston Partners increased its holdings 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 worth $384,439,000 after purchasing an additional 3,637,487 shares in the last quarter. Institutional investors and hedge funds own 88.46% of the company’s stock.
Shares of Synchrony Financial (NYSE:SYF) opened at 32.62 on Wednesday. The stock has a 50 day moving average of $30.99 and a 200 day moving average of $29.89. The firm has a market cap of $25.94 billion, a P/E ratio of 12.25 and a beta of 1.01. Synchrony Financial has a 52 week low of $26.01 and a 52 week high of $38.06.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the firm posted $0.73 earnings per share. Analysts anticipate that Synchrony Financial will post $2.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 6th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.84%. Synchrony Financial’s payout ratio is currently 22.90%.
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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