Synchrony Financial (SYF) Posts Earnings Results, Beats Estimates By $0.07 EPS

Synchrony Financial (NYSE:SYF) issued its quarterly earnings results on Friday. The financial services provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.07, Bloomberg Earnings reports. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. During the same period in the prior year, the firm earned $0.70 earnings per share.

Synchrony Financial (NYSE:SYF) traded up $1.17 during midday trading on Friday, hitting $38.47. The stock had a trading volume of 11,650,246 shares, compared to its average volume of 5,212,523. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.47 and a quick ratio of 1.47. Synchrony Financial has a 1 year low of $26.01 and a 1 year high of $40.17. The company has a market capitalization of $30,106.31, a P/E ratio of 15.96, a P/E/G ratio of 1.47 and a beta of 1.06.

In other Synchrony Financial news, Director Olympia J. Snowe bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was purchased at an average price of $33.40 per share, for a total transaction of $100,200.00. Following the completion of the transaction, the director now owns 10,608 shares of the company’s stock, valued at approximately $354,307.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Mothner sold 1,500 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $32.82, for a total value of $49,230.00. Following the sale, the insider now owns 113,934 shares of the company’s stock, valued at approximately $3,739,313.88. The disclosure for this sale can be found here. Insiders sold 7,961 shares of company stock worth $291,008 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tealwood Asset Management Inc. purchased a new position in shares of Synchrony Financial in the 4th quarter worth approximately $1,233,000. TRUE Private Wealth Advisors purchased a new position in shares of Synchrony Financial in the 4th quarter worth approximately $204,000. State of Alaska Department of Revenue boosted its holdings in shares of Synchrony Financial by 154.8% in the 4th quarter. State of Alaska Department of Revenue now owns 73,201 shares of the financial services provider’s stock worth $2,825,000 after purchasing an additional 44,473 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Synchrony Financial in the 4th quarter worth approximately $397,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Synchrony Financial by 1.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,787,822 shares of the financial services provider’s stock worth $107,638,000 after purchasing an additional 42,756 shares during the period. Institutional investors and hedge funds own 85.57% of the company’s stock.

Several equities research analysts recently weighed in on the company. JMP Securities increased their target price on Synchrony Financial from $35.00 to $37.00 and gave the stock a “market outperform” rating in a research note on Monday, October 23rd. Barclays set a $40.00 target price on Synchrony Financial and gave the stock a “buy” rating in a research note on Monday, October 23rd. Wedbush set a $41.00 target price on Synchrony Financial and gave the stock a “hold” rating in a research note on Monday, December 11th. Zacks Investment Research raised Synchrony Financial from a “strong sell” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Synchrony Financial in a report on Tuesday, October 31st. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $38.40.

COPYRIGHT VIOLATION WARNING: “Synchrony Financial (SYF) Posts Earnings Results, Beats Estimates By $0.07 EPS” was originally published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.chaffeybreeze.com/2018/01/21/synchrony-financial-syf-posts-earnings-results-beats-estimates-by-0-07-eps.html.

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.

Earnings History for Synchrony Financial (NYSE:SYF)

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply