Synchrony Financial (NYSE:SYF) Expected to Post Quarterly Sales of $4.30 Billion

Equities research analysts expect that Synchrony Financial (NYSE:SYF) will post sales of $4.30 billion for the current quarter, according to Zacks. Four analysts have issued estimates for Synchrony Financial’s earnings, with the highest sales estimate coming in at $4.44 billion and the lowest estimate coming in at $4.11 billion. Synchrony Financial reported sales of $4.21 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.1%. The firm is scheduled to announce its next quarterly earnings report on Friday, October 18th.

According to Zacks, analysts expect that Synchrony Financial will report full-year sales of $16.89 billion for the current financial year, with estimates ranging from $16.79 billion to $16.97 billion. For the next fiscal year, analysts expect that the firm will post sales of $16.71 billion, with estimates ranging from $16.25 billion to $17.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Synchrony Financial.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, July 19th. The financial services provider reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. Synchrony Financial had a return on equity of 19.50% and a net margin of 17.82%. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same period last year, the company earned $0.92 earnings per share.

Several research analysts have recently issued reports on the company. BMO Capital Markets set a $43.00 price target on Synchrony Financial and gave the stock a “buy” rating in a research note on Sunday, July 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price target on shares of Synchrony Financial in a research note on Friday, May 3rd. BTIG Research reissued a “buy” rating and issued a $42.00 price target on shares of Synchrony Financial in a research note on Monday, July 22nd. Nomura increased their price target on Synchrony Financial from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Buckingham Research assumed coverage on Synchrony Financial in a research note on Monday, July 22nd. They issued a “buy” rating and a $42.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Synchrony Financial presently has a consensus rating of “Buy” and an average price target of $38.43.

NYSE SYF traded down $1.33 during trading hours on Tuesday, hitting $31.55. The company had a trading volume of 3,875,483 shares, compared to its average volume of 4,344,669. Synchrony Financial has a fifty-two week low of $21.77 and a fifty-two week high of $36.87. The company has a quick ratio of 1.25, a current ratio of 1.36 and a debt-to-equity ratio of 1.44. The business has a fifty day simple moving average of $35.07 and a 200-day simple moving average of $33.64. The firm has a market cap of $21.81 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 0.76 and a beta of 1.19.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.88 annualized dividend and a yield of 2.79%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.21. Synchrony Financial’s dividend payout ratio (DPR) is currently 23.53%.

In other news, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $36.00, for a total transaction of $115,344.00. Following the completion of the sale, the insider now directly owns 23,567 shares of the company’s stock, valued at $848,412. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Margaret M. Keane sold 125,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $33.82, for a total value of $4,227,500.00. Following the sale, the insider now directly owns 648,901 shares of the company’s stock, valued at $21,945,831.82. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SYF. Scotia Capital Inc. lifted its stake in Synchrony Financial by 0.3% in the 2nd quarter. Scotia Capital Inc. now owns 101,134 shares of the financial services provider’s stock worth $3,507,000 after acquiring an additional 318 shares in the last quarter. Boston Advisors LLC lifted its stake in Synchrony Financial by 2.4% in the 1st quarter. Boston Advisors LLC now owns 13,954 shares of the financial services provider’s stock worth $445,000 after acquiring an additional 325 shares in the last quarter. FDx Advisors Inc. lifted its stake in Synchrony Financial by 4.5% in the 2nd quarter. FDx Advisors Inc. now owns 7,503 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 325 shares in the last quarter. Signaturefd LLC lifted its stake in Synchrony Financial by 12.9% in the 2nd quarter. Signaturefd LLC now owns 2,893 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 331 shares in the last quarter. Finally, Grove Bank & Trust lifted its stake in Synchrony Financial by 5.4% in the 2nd quarter. Grove Bank & Trust now owns 7,619 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 390 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Company Profile

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.

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

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