Several other equity research analysts have also published reports on the company. Stephens lowered his price target on Synchrony Financial from $54.00 to $47.00 and set an “equal weight” rating on the stock in a Tuesday, April 19 research report. 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 Tuesday, April 19 research report. Bank of America lowered its price target on Synchrony Financial from $52.00 to $45.00 in a Thursday, March 17 research report. Wells Fargo & Company lowered its price target on Synchrony Financial from $52.00 to $45.00 and set an “overweight” rating on the stock in a Wednesday, April 6 research report. Finally, Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equally weighted” rating and lowered its target price for the stock from $56.00 to $40.00 in a Monday 28 research report. march. One equity research analyst gave the stock a sell rating, five gave the stock a hold rating and thirteen gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $51.00.
Shares of SYF rose $0.97 during Monday’s trading, hitting $29.89. The company’s stock 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 12-month low of $27.77 and a 12-month high of $52.49. The company has a market capitalization of $14.99 billion, a price/earnings ratio of 4.06, a P/E/G 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 ratio of 1.05.
Synchrony Financial (NYSE: SYF – Get a rating) last announced its results on Monday, April 18. The financial services provider reported earnings per share (EPS) of $1.73 for the quarter, beating consensus analyst estimates of $1.53 by $0.20. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. The company posted revenue of $3.79 billion for the quarter, versus analyst estimates of $2.66 billion. During the same period a year earlier, the company posted EPS of $1.73. As a group, equity analysts expect Synchrony Financial to post EPS of 5.63 for the current fiscal year.
Synchrony Financial said its board launched a stock buyback program on Monday, April 18 that allows the company to repurchase $2.80 billion in outstanding stock. This repurchase authorization allows the financial services provider to repurchase up to 13.6% of its shares through purchases on the open market. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.
A number of 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 purchasing an additional 235 shares last quarter. Geneos Wealth Management Inc. increased its stake in Synchrony Financial by 17.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,588 shares of the financial services provider worth $73,000 after purchasing an additional 240 shares last quarter. Kingsview Wealth Management LLC increased its stake in Synchrony Financial by 3.4% in Q3. 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 4th quarter. Venture Visionary Partners LLC now owns 12,615 shares of the financial services provider worth $585,000 after buying an additional 255 shares in the last quarter. Finally, Camden Capital LLC strengthened its position in Synchrony Financial by 4.7% in the 4th 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. 98.26% of the shares are currently held by hedge funds and other institutional investors.
About Synchrony Financial (Get a rating)
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 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 commercial customers, as well as deposits through brokerage firms in third-party securities.
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