Synchrony Financial (NYSE:SYF) – Equities research analysts at Oppenheimer Holdings lowered their Q2 2017 earnings per share (EPS) estimates for shares of Synchrony Financial in a research note issued to investors on Sunday, Zacks Investment Research reports. Oppenheimer Holdings analyst B. Chittenden now anticipates that the financial services provider will post earnings of $0.62 per share for the quarter, down from their prior estimate of $0.70. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Synchrony Financial’s Q3 2017 earnings at $0.73 EPS, Q4 2017 earnings at $0.75 EPS and FY2017 earnings at $2.70 EPS.
A number of other research analysts have also commented on SYF. Vetr raised Synchrony Financial from a “buy” rating to a “strong-buy” rating and set a $41.80 price target on the stock in a report on Tuesday, January 17th. JMP Securities raised their price target on Synchrony Financial from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, January 23rd. Sanford C. Bernstein lifted their target price on Synchrony Financial from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, January 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of Synchrony Financial in a report on Monday, January 23rd. Finally, Wells Fargo & Co started coverage on Synchrony Financial in a report on Wednesday, March 29th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $37.71.
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Shares of Synchrony Financial (NYSE:SYF) traded down 1.26% during trading on Tuesday, reaching $26.59. 23,145,043 shares of the company’s stock traded hands. The company has a market capitalization of $21.56 billion, a price-to-earnings ratio of 10.14 and a beta of 1.06. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $38.06. The company has a 50 day moving average of $31.69 and a 200-day moving average of $34.12.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by $0.13. The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.54 billion. Synchrony Financial had a net margin of 15.15% and a return on equity of 16.34%. During the same period in the prior year, the firm posted $0.70 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 18th. Shareholders of record on Monday, May 8th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, May 4th. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. Synchrony Financial’s payout ratio is presently 19.19%.
In other Synchrony Financial news, insider David P. Melito sold 748 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $34.24, for a total transaction of $25,611.52. Following the completion of the sale, the insider now directly owns 43,390 shares in the company, valued at approximately $1,485,673.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian D. Doubles sold 8,109 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $36.13, for a total value of $292,978.17. Following the sale, the insider now owns 169,962 shares of the company’s stock, valued at $6,140,727.06. The disclosure for this sale can be found here. Insiders have sold a total of 9,457 shares of company stock valued at $339,056 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.
Large investors have recently made changes to their positions in the company. Bank of The West acquired a new stake in shares of Synchrony Financial during the third quarter worth approximately $201,000. SeaBridge Investment Advisors LLC raised its stake in shares of Synchrony Financial by 28.9% in the third quarter. SeaBridge Investment Advisors LLC now owns 193,193 shares of the financial services provider’s stock worth $5,409,000 after buying an additional 43,310 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Synchrony Financial by 2.8% in the third quarter. Great West Life Assurance Co. Can now owns 652,075 shares of the financial services provider’s stock worth $18,238,000 after buying an additional 17,908 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Synchrony Financial by 2.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 128,136 shares of the financial services provider’s stock worth $3,588,000 after buying an additional 3,539 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its stake in shares of Synchrony Financial by 20.0% in the third quarter. Douglas Lane & Associates LLC now owns 2,032,822 shares of the financial services provider’s stock worth $56,919,000 after buying an additional 338,266 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.
About Synchrony Financial
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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