Shares of Synchrony Financial (NYSE:SYF) have earned a consensus rating of “Buy” from the twenty-six ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $37.59.
A number of research analysts recently issued reports on SYF shares. Wells Fargo & Co started coverage on shares of Synchrony Financial in a research note on Wednesday, March 29th. They issued an “outperform” rating for the company. TheStreet downgraded shares of Synchrony Financial from a “b” rating to a “c+” rating in a research note on Wednesday, May 3rd. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Synchrony Financial in a research report on Sunday, April 30th. Jefferies Group LLC restated a “buy” rating and set a $45.00 price objective on shares of Synchrony Financial in a research report on Tuesday, February 14th. Finally, Citigroup Inc reduced their price objective on shares of Synchrony Financial from $43.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, May 1st.
Shares of Synchrony Financial (NYSE SYF) traded down 0.95% during trading on Friday, hitting $27.11. 905,928 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $29.76 and a 200-day moving average price of $33.99. Synchrony Financial has a one year low of $23.25 and a one year high of $38.06. The stock has a market cap of $21.99 billion, a P/E ratio of 10.34 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, April 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by $0.13. Synchrony Financial had a return on equity of 16.34% and a net margin of 15.15%. The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. Equities research analysts expect that Synchrony Financial will post $2.60 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 8th were given a $0.13 dividend. The ex-dividend date was Thursday, May 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.90%. Synchrony Financial’s dividend payout ratio is presently 19.19%.
In other Synchrony Financial news, insider David P. Melito sold 748 shares of the company’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $34.24, for a total value of $25,611.52. Following the transaction, the insider now directly owns 43,390 shares in the company, valued at approximately $1,485,673.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Will W. Graylin bought 18,000 shares of Synchrony Financial stock in a transaction on Monday, May 1st. The stock was purchased at an average price of $27.80 per share, for a total transaction of $500,400.00. Following the completion of the acquisition, the director now owns 55,389 shares in the company, valued at approximately $1,539,814.20. The disclosure for this purchase can be found here. 0.02% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Synchrony Financial by 2,275.1% in the first quarter. BlackRock Inc. now owns 48,272,035 shares of the financial services provider’s stock worth $1,655,730,000 after buying an additional 46,239,640 shares in the last quarter. FMR LLC increased its position in Synchrony Financial by 44.7% in the fourth quarter. FMR LLC now owns 27,582,023 shares of the financial services provider’s stock worth $1,000,400,000 after buying an additional 8,518,794 shares in the last quarter. Norges Bank bought a new position in Synchrony Financial during the fourth quarter worth approximately $289,634,000. JPMorgan Chase & Co. increased its position in Synchrony Financial by 46.7% in the first quarter. JPMorgan Chase & Co. now owns 10,529,375 shares of the financial services provider’s stock worth $361,158,000 after buying an additional 3,354,021 shares in the last quarter. Finally, Baupost Group LLC MA increased its position in Synchrony Financial by 17.6% in the fourth quarter. Baupost Group LLC MA now owns 20,665,000 shares of the financial services provider’s stock worth $749,520,000 after buying an additional 3,100,000 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.
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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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