Q2 2024 Earnings Estimate for Synchrony Financial (NYSE:SYF) Issued By Seaport Res Ptn

Synchrony Financial (NYSE:SYF) – Stock analysts at Seaport Res Ptn upped their Q2 2024 earnings per share (EPS) estimates for Synchrony Financial in a note issued to investors on Thursday, April 25th. Seaport Res Ptn analyst W. Ryan now forecasts that the financial services provider will post earnings per share of $1.51 for the quarter, up from their previous forecast of $1.49. The consensus estimate for Synchrony Financial’s current full-year earnings is $5.57 per share. Seaport Res Ptn also issued estimates for Synchrony Financial’s Q3 2024 earnings at $1.88 EPS and FY2025 earnings at $4.45 EPS.

A number of other equities research analysts have also commented on the company. Morgan Stanley restated an “underweight” rating and set a $30.00 price objective on shares of Synchrony Financial in a research report on Thursday, February 8th. BMO Capital Markets raised their price objective on Synchrony Financial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday. Wells Fargo & Company raised their price target on Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Bank of America raised their price target on Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on Synchrony Financial from $42.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.72.

Synchrony Financial Trading Down 0.8 %

Shares of NYSE SYF opened at $44.66 on Friday. Synchrony Financial has a one year low of $26.59 and a one year high of $45.33. The firm has a market capitalization of $18.17 billion, a PE ratio of 6.41, a PEG ratio of 1.11 and a beta of 1.61. The company has a current ratio of 1.24, a quick ratio of 1.22 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $41.56 and a two-hundred day moving average price of $36.76.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the business posted $1.35 earnings per share.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors have recently bought and sold shares of SYF. Assenagon Asset Management S.A. raised its position in shares of Synchrony Financial by 995.4% during the first quarter. Assenagon Asset Management S.A. now owns 5,599,443 shares of the financial services provider’s stock worth $241,448,000 after acquiring an additional 5,088,262 shares during the last quarter. Invesco Ltd. raised its position in shares of Synchrony Financial by 16.0% during the third quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock worth $167,187,000 after acquiring an additional 755,856 shares during the last quarter. Northern Trust Corp raised its position in shares of Synchrony Financial by 3.7% during the third quarter. Northern Trust Corp now owns 4,973,509 shares of the financial services provider’s stock worth $152,040,000 after acquiring an additional 178,344 shares during the last quarter. Norges Bank bought a new stake in shares of Synchrony Financial during the fourth quarter worth $182,739,000. Finally, Boston Partners raised its position in shares of Synchrony Financial by 23.6% during the fourth quarter. Boston Partners now owns 3,826,080 shares of the financial services provider’s stock worth $146,112,000 after acquiring an additional 730,318 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David P. Melito sold 7,283 shares of Synchrony Financial stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the transaction, the insider now owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,158 shares of company stock valued at $6,106,106. 0.65% of the stock is owned by corporate insiders.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, May 3rd. Synchrony Financial’s payout ratio is presently 14.35%.

Synchrony Financial announced that its board has authorized a share repurchase program on Wednesday, April 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Synchrony Financial

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.