Synchrony Financial (SYF) Receives $37.73 Consensus Target Price from Brokerages

Shares of Synchrony Financial (NYSE:SYF) have been given a consensus recommendation of “Buy” by the eighteen research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $37.73.

SYF has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday, February 8th. CIBC upgraded shares of Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a research note on Thursday, January 24th. Stephens lowered shares of Synchrony Financial from an “equal weight” rating to a “sell” rating and set a $26.00 price objective for the company. in a research note on Friday, November 2nd. Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a research note on Thursday, November 1st. Finally, TheStreet lowered shares of Synchrony Financial from a “b-” rating to a “c+” rating in a research note on Monday, November 19th.

In other Synchrony Financial news, insider David P. Melito sold 3,204 shares of the business’s stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $30.00, for a total value of $96,120.00. Following the completion of the sale, the insider now directly owns 40,313 shares of the company’s stock, valued at $1,209,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Melito sold 3,934 shares of the business’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $30.00, for a total transaction of $118,020.00. Following the completion of the sale, the insider now directly owns 29,486 shares of the company’s stock, valued at $884,580. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SYF. The Manufacturers Life Insurance Company increased its position in shares of Synchrony Financial by 94.6% in the third quarter. The Manufacturers Life Insurance Company now owns 7,548,840 shares of the financial services provider’s stock valued at $234,618,000 after acquiring an additional 3,669,660 shares during the period. Southpoint Capital Advisors LP purchased a new position in shares of Synchrony Financial in the third quarter valued at about $71,484,000. Millennium Management LLC increased its position in shares of Synchrony Financial by 163.6% in the fourth quarter. Millennium Management LLC now owns 3,032,475 shares of the financial services provider’s stock valued at $71,142,000 after acquiring an additional 1,881,871 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Synchrony Financial by 2,218.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,810,995 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 1,732,885 shares during the period. Finally, BlackRock Inc. increased its position in shares of Synchrony Financial by 3.3% in the fourth quarter. BlackRock Inc. now owns 46,496,604 shares of the financial services provider’s stock valued at $1,090,810,000 after acquiring an additional 1,503,876 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Synchrony Financial stock opened at $31.78 on Tuesday. Synchrony Financial has a 52 week low of $21.77 and a 52 week high of $38.07. The company has a current ratio of 1.41, a quick ratio of 1.40 and a debt-to-equity ratio of 1.63. The company has a market cap of $22.57 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 0.81 and a beta of 1.27.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.16. Synchrony Financial had a net margin of 15.45% and a return on equity of 19.41%. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter last year, the firm earned $0.70 EPS. As a group, sell-side analysts expect that Synchrony Financial will post 4.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Shareholders of record on Monday, February 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Friday, February 1st. Synchrony Financial’s dividend payout ratio is presently 22.46%.

Synchrony Financial Company Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

Further Reading: Earnings Per Share (EPS) Explained

Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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