Synchrony Financial (NYSE:SYF) – Equities research analysts at Jefferies Group cut their Q2 2017 EPS estimates for Synchrony Financial in a research report issued to clients and investors on Monday, Zacks Investment Research reports. Jefferies Group analyst J. Hecht now forecasts that the financial services provider will post earnings of $0.50 per share for the quarter, down from their prior estimate of $0.78. Jefferies Group currently has a “Buy” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for Synchrony Financial’s Q3 2017 earnings at $0.66 EPS, Q4 2017 earnings at $0.85 EPS, FY2017 earnings at $2.61 EPS, Q1 2018 earnings at $0.88 EPS, Q2 2018 earnings at $0.80 EPS and Q3 2018 earnings at $0.84 EPS.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, April 28th. The financial services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.74 by $0.13. Synchrony Financial had a return on equity of 16.34% and a net margin of 15.15%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the company posted $0.70 EPS. COPYRIGHT VIOLATION NOTICE: “Synchrony Financial Forecasted to Earn Q2 2017 Earnings of $0.50 Per Share (SYF)” was originally posted by BBNS and is owned by of BBNS. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://baseballnewssource.com/markets/q2-2017-earnings-estimate-for-synchrony-financial-issued-by-jefferies-group-syf-updated-updated-updated/709294.html.
A number of other equities research analysts also recently weighed in on SYF. Vetr raised shares of Synchrony Financial from a “buy” rating to a “strong-buy” rating and set a $41.80 price objective for the company in a research report on Tuesday, January 17th. JMP Securities boosted their price objective on shares of Synchrony Financial from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, January 23rd. Sanford C. Bernstein boosted their target price on shares of Synchrony Financial from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, January 23rd. Wells Fargo & Co started coverage on shares of Synchrony Financial in a research note on Wednesday, March 29th. They set an “outperform” rating for the company. Finally, BMO Capital Markets reissued a “buy” rating and set a $38.00 target price on shares of Synchrony Financial in a research note on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Synchrony Financial currently has a consensus rating of “Buy” and an average target price of $37.71.
Shares of Synchrony Financial (NYSE:SYF) opened at 26.59 on Wednesday. Synchrony Financial has a 52 week low of $23.25 and a 52 week high of $38.06. The stock’s 50 day moving average is $31.69 and its 200 day moving average is $34.12. The firm has a market cap of $21.56 billion, a P/E ratio of 10.14 and a beta of 1.06.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of The West acquired a new stake in Synchrony Financial during the third quarter valued at approximately $201,000. SeaBridge Investment Advisors LLC raised its stake in 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 valued at $5,409,000 after buying an additional 43,310 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in 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 in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in 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 in the last quarter. Finally, Douglas Lane & Associates LLC raised its stake in 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 in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.
In other Synchrony Financial news, Director Will W. Graylin bought 18,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was acquired at an average cost of $27.80 per share, with a total value of $500,400.00. Following the completion of the purchase, the director now directly owns 55,389 shares in the company, valued at $1,539,814.20. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David P. Melito sold 748 shares of the stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $34.24, for a total transaction of $25,611.52. Following the sale, the insider now directly owns 43,390 shares of the company’s stock, valued at $1,485,673.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,457 shares of company stock valued at $339,056. Company insiders own 0.02% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 18th. Investors of record on Monday, May 8th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, May 4th. Synchrony Financial’s dividend payout ratio is presently 19.19%.
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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