Synchrony Financial (SYF) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Synchrony Financial (NYSE:SYF) issued its earnings results on Friday. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07, Bloomberg Earnings reports. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.96 billion. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. During the same period last year, the company posted $0.70 EPS.

Synchrony Financial (NYSE SYF) opened at $38.47 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.47 and a quick ratio of 1.47. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $40.17. The company has a market capitalization of $30,106.31, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.47 and a beta of 1.06.

In related news, Director Olympia J. Snowe acquired 3,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were bought at an average cost of $33.40 per share, with a total value of $100,200.00. Following the completion of the transaction, the director now directly owns 10,608 shares of the company’s stock, valued at approximately $354,307.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan S. Mothner sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $32.82, for a total value of $49,230.00. Following the completion of the transaction, the insider now directly owns 113,934 shares in the company, valued at $3,739,313.88. The disclosure for this sale can be found here. Insiders sold 7,961 shares of company stock worth $291,008 over the last three months. 0.03% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Synchrony Financial by 1.9% in the second quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock valued at $1,557,609,000 after purchasing an additional 956,331 shares during the period. FMR LLC raised 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 purchasing an additional 7,874,689 shares during the period. First Eagle Investment Management LLC raised its position in Synchrony Financial by 2.1% in the third quarter. First Eagle Investment Management LLC now owns 17,666,015 shares of the financial services provider’s stock valued at $548,530,000 after purchasing an additional 362,810 shares during the period. Berkshire Hathaway Inc. acquired a new stake in shares of Synchrony Financial during the second quarter valued at about $520,747,000. Finally, CI Investments Inc. grew its stake in shares of Synchrony Financial by 7.5% during the third quarter. CI Investments Inc. now owns 10,960,562 shares of the financial services provider’s stock valued at $340,325,000 after acquiring an additional 766,368 shares in the last quarter. 85.57% of the stock is currently owned by institutional investors.

SYF has been the topic of several research reports. Jefferies Group increased their target price on Synchrony Financial to $44.00 and gave the stock a “top pick” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $39.00 target price on shares of Synchrony Financial in a research report on Thursday, October 12th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Barclays set a $55.00 target price on Synchrony Financial and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Wedbush set a $41.00 target price on Synchrony Financial and gave the stock a “hold” rating in a research report on Monday, December 11th. Ten research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $38.40.

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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.

Earnings History for Synchrony Financial (NYSE:SYF)

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