Synchrony Financial (NYSE:SYF) Announces Quarterly Earnings Results

Synchrony Financial (NYSE:SYF) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17, Briefing.com reports. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Synchrony Financial updated its FY 2024 guidance to 8.450-8.550 EPS.

Synchrony Financial Trading Up 6.1 %

Shares of Synchrony Financial stock opened at $56.52 on Thursday. The company’s 50-day moving average price is $49.02 and its 200-day moving average price is $46.43. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. The company has a market cap of $22.34 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.26 and a beta of 1.61. Synchrony Financial has a 12-month low of $27.30 and a 12-month high of $56.59.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 1.77%. Synchrony Financial’s dividend payout ratio is currently 13.89%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SYF. Evercore ISI decreased their price target on Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday. Baird R W raised shares of Synchrony Financial to a “strong-buy” rating in a report on Friday, June 28th. The Goldman Sachs Group raised their price target on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company increased their price objective on shares of Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.05.

Insider Buying and Selling at Synchrony Financial

In other news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the transaction, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the sale, the insider now directly owns 49,390 shares in the company, valued at $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Synchrony Financial Company Profile

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.