Synchrony Financial (NYSE:SYF) Expected to Post Q2 2024 Earnings of $1.51 Per Share

Synchrony Financial (NYSE:SYF) – Investment analysts at Seaport Res Ptn upped their Q2 2024 earnings per share estimates for shares of Synchrony Financial in a research report issued on Thursday, April 25th. Seaport Res Ptn analyst W. Ryan now expects that the financial services provider will post earnings per share of $1.51 for the quarter, up from their previous estimate of $1.49. The consensus estimate for Synchrony Financial’s current full-year earnings is $5.57 per share. Seaport Res Ptn also issued estimates for Synchrony Financial’s Q3 2024 earnings at $1.88 EPS and FY2025 earnings at $4.45 EPS.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter in the previous year, the business posted $1.35 earnings per share.

A number of other equities research analysts have also recently weighed in on SYF. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Thursday. Piper Sandler increased their price target on Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Wells Fargo & Company lifted their price objective on shares of Synchrony Financial from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Synchrony Financial in a research report on Wednesday, January 10th. They issued a “buy” rating and a $56.00 target price for the company. Finally, Bank of America boosted their price target on shares of Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.72.

Synchrony Financial Trading Up 0.0 %

Synchrony Financial stock opened at $44.67 on Friday. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $45.46. The company has a quick ratio of 1.22, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $18.17 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 1.11 and a beta of 1.61. The firm has a 50-day moving average price of $41.67 and a two-hundred day moving average price of $36.86.

Institutional Trading of Synchrony Financial

Hedge funds have recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of Synchrony Financial by 26.9% during the 3rd quarter. CWM LLC now owns 7,923 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 1,680 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Synchrony Financial in the 3rd quarter worth about $35,000. Oak Thistle LLC raised its stake in shares of Synchrony Financial by 50.5% during the 3rd quarter. Oak Thistle LLC now owns 31,968 shares of the financial services provider’s stock worth $977,000 after purchasing an additional 10,732 shares in the last quarter. Czech National Bank lifted its holdings in shares of Synchrony Financial by 44.0% during the 3rd quarter. Czech National Bank now owns 73,079 shares of the financial services provider’s stock valued at $2,234,000 after buying an additional 22,344 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Synchrony Financial by 8.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 197,214 shares of the financial services provider’s stock valued at $6,029,000 after buying an additional 14,613 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the sale, the insider now owns 14,183 shares in the company, valued at $552,995.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the completion of the sale, the insider now directly owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David P. Melito sold 7,283 shares of Synchrony Financial stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the transaction, the insider now directly owns 14,183 shares in the company, valued at approximately $552,995.17. The disclosure for this sale can be found here. Insiders sold a total of 148,158 shares of company stock worth $6,106,106 over the last ninety days. 0.65% of the stock is currently owned by company insiders.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, May 3rd. Synchrony Financial’s payout ratio is 14.35%.

Synchrony Financial declared that its board has approved a share repurchase program on Wednesday, April 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 5.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Synchrony Financial Company Profile

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.