Several other stock research analysts have also issued reports on the company. Stephens lowered his price target on Synchrony Financial to $47.00 from $54.00 and set an “equal weight” rating on the stock in a research report Tuesday, April 19. Goldman Sachs Group raised its price target on Synchrony Financial from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, April 19. Bank of America lowered its price target on Synchrony Financial from $52.00 to $45.00 in a research report on Thursday, March 17. Wells Fargo & Company lowered its price target on Synchrony Financial from $52.00 to $45.00 and placed an “overweight” rating on the stock in a research report on Wednesday, April 6. Finally, Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and lowered its price target on the stock from $56.00 to $40.00 in a research report on Monday, March 28. One stock research analyst has rated the stock a sell rating, five have assigned a hold rating and thirteen have issued a buy rating on the stock. According to data from MarketBeat.com, the stock currently has a “Buy” consensus rating and an average price target of $51.00.
SYF shares rose $0.97 during Monday’s trading, reaching $29.89. The company’s shares had a trading volume of 493,284 shares, compared to its average volume of 6,929,491. The company has a fifty day moving average of $35.50 and a two hundred day moving average of $40.01. Synchrony Financial has a twelve month minimum of $27.77 and a twelve month maximum of $52.49. The company has a market cap of $14.99 billion, a P/E ratio of 4.06, a P/E/E ratio of 0.23 and a beta of 1.43. The company has a quick ratio of 1.18, a current ratio of 1.24, and a debt-to-equity ratio of 1.05.
Synchrony Financial (NYSE: SYF – get rating) last announced its earnings results on Monday, April 18. The financial services provider reported earnings per share (EPS) of $1.73 for the quarter, beating analyst consensus estimates of $1.53 by $0.20. Synchrony Financial achieved a return on equity of 29.99% and a net margin of 26.26%. The company had revenue of $3.79 billion in the quarter, compared with analyst estimates of $2.66 billion. During the same period of the previous year, the company recorded $1.73 EPS. As a group, equity analysts forecast Synchrony Financial to post 5.63 EPS for the current fiscal year.
Synchrony Financial stated that its board of directors initiated a share buyback program on Monday, April 18, that allows the company to repurchase $2.8 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 13.6% of its shares through open market purchases. Stock buyback programs are often an indication that company leadership believes its stock is undervalued.
Several institutional investors and hedge funds have recently changed their stock holdings. Baird Financial Group Inc. increased its stake in Synchrony Financial by 0.9% in the fourth quarter. Baird Financial Group Inc. now owns 25,965 shares of the financial services provider worth $1,205,000 after buying an additional 235 shares last quarter. Geneos Wealth Management Inc. increased its stake in Synchrony Financial by 17.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,588 shares of the financial services provider worth $73,000 after buying an additional 240 shares last quarter. Kingsview Wealth Management LLC increased its stake in Synchrony Financial by 3.4% in the third quarter. Kingsview Wealth Management LLC now owns 7,307 shares of the financial services provider worth $357,000 after buying an additional 241 shares last quarter. Venture Visionary Partners LLC increased its stake in Synchrony Financial by 2.1% in the fourth quarter. Venture Visionary Partners LLC now owns 12,615 shares of the financial services provider worth $585,000 after buying an additional 255 shares last quarter. Finally, Camden Capital LLC boosted its position in Synchrony Financial by 4.7% during the fourth quarter. Camden Capital LLC now owns 6,108 shares of the financial services provider worth $283,000 after acquiring an additional 274 shares during the period. Currently, 98.26% of the shares belong to hedge funds and other institutional investors.
About Synchrony Financial (get rating)
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. Offers credit products, such as credit cards, business credit products, and consumer installment loans. The company also offers private-label credit cards, dual cards, co-branded 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 for retail and business customers, as well as accept deposits through third-party securities brokerage firms.
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