Q2 2024 Earnings Forecast for Synchrony Financial Issued By Seaport Res Ptn (NYSE:SYF)

Synchrony Financial (NYSE:SYF) – Stock analysts at Seaport Res Ptn boosted their Q2 2024 EPS estimates for shares of Synchrony Financial in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst W. Ryan now forecasts that the financial services provider will post earnings per share of $1.51 for the quarter, up from their prior estimate of $1.49. The consensus estimate for Synchrony Financial’s current full-year earnings is $5.60 per share. Seaport Res Ptn also issued estimates for Synchrony Financial’s Q3 2024 earnings at $1.88 EPS and FY2025 earnings at $4.45 EPS.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.19). The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same quarter in the prior year, the firm earned $1.35 earnings per share.

Several other analysts have also commented on the stock. Bank of America lifted their price target on shares of Synchrony Financial from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday. BMO Capital Markets lifted their price target on shares of Synchrony Financial from $40.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday. TD Cowen lifted their price target on shares of Synchrony Financial from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday. Stephens boosted their target price on Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Finally, Evercore ISI boosted their target price on Synchrony Financial from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Synchrony Financial presently has an average rating of “Hold” and an average target price of $42.72.

Synchrony Financial Stock Up 0.0 %

SYF stock opened at $44.67 on Friday. The firm has a market cap of $18.17 billion, a PE ratio of 6.41, a PEG ratio of 1.10 and a beta of 1.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 1.24. The firm’s 50 day moving average price is $41.67 and its 200-day moving average price is $36.91. Synchrony Financial has a one year low of $26.59 and a one year high of $45.46.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be paid a $0.25 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 2.24%. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Synchrony Financial declared that its board has initiated a stock repurchase program on Wednesday, April 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 5.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total value of $5,557,556.96. Following the completion of the transaction, the insider now owns 660,353 shares in the company, valued at $27,246,164.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares of the company’s stock, valued at $552,995.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the sale, the insider now directly owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The disclosure for this sale can be found here. Insiders sold 148,158 shares of company stock worth $6,106,106 over the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. SYSTM Wealth Solutions LLC raised its holdings in Synchrony Financial by 4.2% during the first quarter. SYSTM Wealth Solutions LLC now owns 10,861 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 438 shares in the last quarter. LifePro Asset Management purchased a new position in Synchrony Financial during the first quarter worth about $661,000. Verdence Capital Advisors LLC raised its holdings in Synchrony Financial by 2.2% during the first quarter. Verdence Capital Advisors LLC now owns 28,658 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 614 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Synchrony Financial by 1.3% during the first quarter. New York State Teachers Retirement System now owns 500,227 shares of the financial services provider’s stock worth $21,570,000 after purchasing an additional 6,475 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Synchrony Financial by 4.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 518,913 shares of the financial services provider’s stock worth $22,376,000 after purchasing an additional 24,318 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

About Synchrony Financial

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 co-brand 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.