Synchrony Financial (NYSE:SYF) has received an average recommendation of “Buy” from the twenty-eight analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $37.31.
SYF has been the subject of several analyst reports. TheStreet downgraded Synchrony Financial from a “b” rating to a “c+” rating in a research report on Wednesday, May 3rd. BidaskClub downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research report on Sunday, April 30th. ValuEngine downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Synchrony Financial in a research report on Friday, June 9th.
Synchrony Financial (NYSE SYF) opened at 30.10 on Friday. Synchrony Financial has a 52 week low of $26.01 and a 52 week high of $38.06. The stock has a 50 day moving average price of $29.93 and a 200 day moving average price of $31.60. The stock has a market cap of $23.94 billion, a PE ratio of 11.30 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the business earned $0.58 earnings per share. On average, equities analysts predict that Synchrony Financial will post $2.60 earnings per share for the current year.
Synchrony Financial announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 18th that permits the company to buyback $1.64 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 7th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.60 annualized dividend and a yield of 1.99%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.13. Synchrony Financial’s dividend payout ratio is presently 22.64%.
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In other news, Director Paget Leonard Alves acquired 2,000 shares of the business’s stock in a transaction on Monday, July 24th. The shares were purchased at an average price of $30.85 per share, for a total transaction of $61,700.00. Following the completion of the purchase, the director now directly owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.03% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its stake in shares of Synchrony Financial by 18.7% in the second quarter. Advisory Services Network LLC now owns 12,571 shares of the financial services provider’s stock valued at $375,000 after buying an additional 1,977 shares during the last quarter. Afam Capital Inc. boosted its stake in shares of Synchrony Financial by 9.7% in the second quarter. Afam Capital Inc. now owns 49,313 shares of the financial services provider’s stock valued at $1,471,000 after buying an additional 4,378 shares during the last quarter. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Synchrony Financial during the second quarter valued at about $256,000. Sterling Capital Management LLC boosted its stake in shares of Synchrony Financial by 478.4% in the second quarter. Sterling Capital Management LLC now owns 1,411,877 shares of the financial services provider’s stock valued at $42,102,000 after buying an additional 1,167,766 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in shares of Synchrony Financial during the second quarter valued at about $343,000. Hedge funds and other institutional investors own 89.63% of the company’s stock.
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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