Synchrony Financial (SYF) Expected to Earn Q3 2018 Earnings of $0.88 Per Share

Synchrony Financial (NYSE:SYF) – Analysts at Oppenheimer lowered their Q3 2018 earnings per share estimates for Synchrony Financial in a research report issued to clients and investors on Sunday, April 22nd. Oppenheimer analyst B. Chittenden now expects that the financial services provider will earn $0.88 per share for the quarter, down from their prior estimate of $0.91. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Synchrony Financial’s Q4 2018 earnings at $0.96 EPS, FY2018 earnings at $3.50 EPS and FY2019 earnings at $4.24 EPS.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, April 20th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.89 billion. Synchrony Financial had a return on equity of 15.60% and a net margin of 12.36%. During the same quarter in the prior year, the business earned $0.61 earnings per share.

A number of other research firms have also weighed in on SYF. UBS initiated coverage on Synchrony Financial in a report on Tuesday, March 27th. They set a “sell” rating and a $32.00 target price for the company. ValuEngine upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a report on Thursday, April 12th. Barclays set a $55.00 target price on Synchrony Financial and gave the stock a “buy” rating in a report on Thursday, January 11th. Royal Bank of Canada initiated coverage on Synchrony Financial in a report on Tuesday, April 17th. They set an “outperform” rating and a $45.00 target price for the company. Finally, Buckingham Research initiated coverage on Synchrony Financial in a report on Wednesday, March 14th. They set a “buy” rating and a $42.00 target price for the company. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $38.95.

Synchrony Financial stock opened at $33.29 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 1.41 and a debt-to-equity ratio of 1.46. The firm has a market cap of $26,402.33, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.35 and a beta of 1.12. Synchrony Financial has a twelve month low of $26.01 and a twelve month high of $40.59.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CI Investments Inc. increased its position in shares of Synchrony Financial by 6.5% in the 4th quarter. CI Investments Inc. now owns 11,674,795 shares of the financial services provider’s stock valued at $450,764,000 after acquiring an additional 714,233 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Synchrony Financial by 6.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 7,735,326 shares of the financial services provider’s stock valued at $298,661,000 after acquiring an additional 468,586 shares during the period. Bank of Montreal Can increased its position in shares of Synchrony Financial by 30.3% in the 4th quarter. Bank of Montreal Can now owns 5,521,901 shares of the financial services provider’s stock valued at $213,200,000 after acquiring an additional 1,284,298 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Synchrony Financial by 14.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,712,842 shares of the financial services provider’s stock valued at $181,963,000 after acquiring an additional 603,100 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its position in shares of Synchrony Financial by 108.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 4,032,094 shares of the financial services provider’s stock valued at $155,677,000 after acquiring an additional 2,096,626 shares during the period. 88.74% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Neeraj Mehta sold 2,299 shares of the stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $32.69, for a total transaction of $75,154.31. Following the completion of the sale, the insider now owns 65,867 shares in the company, valued at approximately $2,153,192.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Margaret M. Keane sold 13,138 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $36.70, for a total value of $482,164.60. Following the sale, the insider now owns 440,169 shares of the company’s stock, valued at approximately $16,154,202.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,149 shares of company stock valued at $950,771. Company insiders own 0.07% of the company’s stock.

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About Synchrony Financial

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

Earnings History and Estimates for Synchrony Financial (NYSE:SYF)

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