Synchrony Financial Forecasted to Earn Q1 2023 Earnings of $1.60 Per Share (NYSE:SYF)

Synchrony Financial (NYSE:SYF – Get Rating) – Jefferies Financial Group lowered their Q1 2023 earnings per share estimates for shares of Synchrony Financial in a research report issued on Monday, January 23rd. Jefferies Financial Group analyst J. Hecht now forecasts that the financial services provider will post earnings per share of $1.60 for the quarter, down from their previous estimate of $1.86. The consensus estimate for Synchrony Financial’s current full-year earnings is $5.02 per share. Jefferies Financial Group also issued estimates for Synchrony Financial’s Q2 2023 earnings at $1.11 EPS, Q3 2023 earnings at $1.35 EPS, FY2023 earnings at $5.00 EPS, Q1 2024 earnings at $2.32 EPS, Q4 2024 earnings at $0.90 EPS and FY2024 earnings at $5.56 EPS.

Synchrony Financial (NYSE:SYF – Get Rating) last posted its quarterly earnings data on Monday, January 23rd. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.14. Synchrony Financial had a return on equity of 24.07% and a net margin of 17.51%. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the company posted $1.48 EPS.

Other research analysts have also issued reports about the company. Citigroup lifted their price objective on Synchrony Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley raised their target price on Synchrony Financial from $29.00 to $31.00 and gave the company an “underweight” rating in a research note on Tuesday. JMP Securities raised their target price on Synchrony Financial from $39.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Thursday, October 20th. Finally, TheStreet upgraded Synchrony Financial from a “c+” rating to a “b-” rating in a research note on Tuesday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.27.

Synchrony Financial Stock Performance

SYF stock opened at $35.37 on Wednesday. The stock has a 50-day moving average price of $34.25 and a 200-day moving average price of $33.43. Synchrony Financial has a 1-year low of $27.22 and a 1-year high of $47.05. The company has a current ratio of 1.20, a quick ratio of 1.21 and a debt-to-equity ratio of 1.17. The firm has a market cap of $15.94 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.98 and a beta of 1.61.

Insiders Place Their Bets

In other Synchrony Financial news, insider Carol Juel sold 31,303 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $40.00, for a total transaction of $1,252,120.00. Following the transaction, the insider now owns 55,929 shares of the company’s stock, valued at approximately $2,237,160. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Synchrony Financial news, insider Carol Juel sold 31,303 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $40.00, for a total transaction of $1,252,120.00. Following the transaction, the insider now owns 55,929 shares of the company’s stock, valued at approximately $2,237,160. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Margaret M. Keane sold 68,369 shares of Synchrony Financial stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $36.50, for a total transaction of $2,495,468.50. Following the transaction, the insider now directly owns 762,786 shares in the company, valued at approximately $27,841,689. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC raised its holdings in shares of Synchrony Financial by 231.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 948 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 662 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of Synchrony Financial in the 2nd quarter worth approximately $28,000. Cowa LLC bought a new stake in shares of Synchrony Financial in the 3rd quarter worth approximately $28,000. Clear Street Markets LLC raised its holdings in shares of Synchrony Financial by 392.0% in the 2nd quarter. Clear Street Markets LLC now owns 1,048 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 835 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Synchrony Financial in the 2nd quarter worth approximately $31,000. Institutional investors own 95.97% of the company’s stock.

About Synchrony Financial

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Synchrony Financial engages in the provision of consumer financial services. It operates through three sales platforms: Retail Card, Payment Solutions, and CareCredit. The Retail Card platform is a provider of private label credit cards, and also provides Dual Cards and small-and medium-sized business credit products.