Synchrony Financial (SYF) set to announce quarterly results on Monday
Synchrony Financial (NYSE:SYF – Get Rating) is expected to report earnings before market open on Monday, April 18. Analysts expect the company to report earnings of $1.54 per share for the quarter. Investors wishing to listen to the company’s conference call can do so using this link.
Synchrony Financial (NYSE:SYF – Get Rating) last released quarterly earnings data on Friday, January 28. The financial services provider reported earnings per share of $1.48 for the quarter, beating the Zacks consensus estimate of $1.47 by $0.01. The company posted revenue of $3.83 billion for the quarter, versus a consensus estimate of $2.60 billion. Synchrony Financial had a return on equity of 30.77% and a net margin of 27.27%. During the same period last year, the company achieved EPS of $1.24. On average, analysts expect Synchrony Financial to post EPS of $6 for the current fiscal year and EPS of $6 for the next fiscal year.
SYF opened at $36.64 on Monday. The company has a market cap of $18.55 billion, a P/E ratio of 5.00, a price-to-earnings growth ratio of 0.28, and a beta of 1.60. The stock’s 50-day moving average price is $39.20 and its two-hundred-day moving average price is $44.85. The company has a quick ratio of 1.19, a current ratio of 1.25 and a debt ratio of 1.12. Synchrony Financial has a 12-month low of $33.76 and a 12-month high of $52.49.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 15. Shareholders of record on Thursday, February 10 received a dividend of $0.22. This represents a dividend of $0.88 on an annualized basis and a yield of 2.40%. The ex-dividend date was Wednesday, February 9. Synchrony Financial’s dividend payout ratio (DPR) is currently 12.01%.
Synchrony Financial announced that its board of directors launched a share buyback plan on Wednesday, December 15 that allows the company to repurchase $1.00 billion of outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 3.9% of its shares through purchases on the open market. Stock buyback plans are often a sign that a company’s management believes its stock is undervalued.
SYF has been the subject of a number of research analyst reports. Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equally weighted” rating and lowered its target price for the company from $56.00 to $40.00 in a Monday, March 28 report. Wells Fargo & Company lowered its price target on Synchrony Financial from $52.00 to $45.00 and set an “overweight” rating on the stock in a Wednesday, April 6 report. Goldman Sachs Group lowered its price target on Synchrony Financial from $45.00 to $40.00 and placed a “buy” rating on the stock in a Monday, April 4 report. Credit Suisse Group lowered its price target on Synchrony Financial from $60.00 to $58.00 and set an “outperform” rating for the stock in a Monday, January 31 report. Finally, Piper Sandler upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and raised its price target for the stock from $48.00 to $49.00 in a Wednesday, April 6 report. Nine analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to data from MarketBeat, Synchrony Financial currently has an average rating of “Buy” and a consensus price target of $52.53.
Separately, insider David P. Melito sold 9,351 shares of the company in a trade on Thursday, January 27. The stock was sold at an average price of $46.05, for a total value of $430,613.55. The sale was disclosed in a document filed with the SEC, accessible via this link. 0.45% of the shares are held by insiders.
A number of institutional investors and hedge funds have recently changed their holdings in the company. Vident Investment Advisory LLC increased its position in Synchrony Financial by 3.3% in the fourth quarter. Vident Investment Advisory LLC now owns 62,490 shares of the financial services provider valued at $2,899,000 after buying an additional 1,976 shares in the last quarter. Forum Financial Management LP bought a new position in Synchrony Financial in Q4 worth $397,000. NewEdge Advisors LLC increased its position in Synchrony Financial by 24.8% in the fourth quarter. NewEdge Advisors LLC now owns 57,064 shares of the financial services provider valued at $2,647,000 after purchasing an additional 11,348 shares in the last quarter. Allianz Asset Management GmbH increased its position in Synchrony Financial shares by 30.3% during the fourth quarter. Allianz Asset Management GmbH now owns 2,786,378 shares of the financial services provider worth $129,260,000 after acquiring an additional 647,466 shares in the last quarter. Finally, Toroso Investments LLC increased its position in Synchrony Financial shares by 32.9% during the fourth quarter. Toroso Investments LLC now owns 14,258 shares of the financial services provider worth $661,000 after acquiring 3,533 additional shares in the last quarter. Hedge funds and other institutional investors hold 93.86% of the company’s shares.
About Synchrony Financial (Get an assessment)
Synchrony Financial engages in the provision of financial services to consumers. It operates through three sales platforms: Retail Card, Payment Solutions and CareCredit. The Retail Card platform is a private label credit card provider, and also provides dual cards and credit products to small and medium businesses.
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