Brokerages Anticipate Synchrony Financial (NYSE:SYF) Will Post Earnings of $0.98 Per Share

Wall Street brokerages expect that Synchrony Financial (NYSE:SYF) will announce earnings of $0.98 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Synchrony Financial’s earnings. The highest EPS estimate is $1.05 and the lowest is $0.93. Synchrony Financial reported earnings of $0.92 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 6.5%. The company is scheduled to report its next earnings results on Friday, July 26th.

On average, analysts expect that Synchrony Financial will report full-year earnings of $4.28 per share for the current financial year, with EPS estimates ranging from $4.13 to $4.40. For the next year, analysts expect that the business will post earnings of $4.74 per share, with EPS estimates ranging from $4.53 to $4.95. Zacks’ EPS calculations are an average based on a survey of analysts that follow Synchrony Financial.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.12. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Synchrony Financial had a return on equity of 19.79% and a net margin of 17.52%. During the same quarter in the previous year, the firm earned $0.83 earnings per share.

Several brokerages recently issued reports on SYF. Nomura lifted their target price on Synchrony Financial from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Royal Bank of Canada restated an “outperform” rating and set a $39.00 price target on shares of Synchrony Financial in a research report on Friday, May 3rd. ValuEngine upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Morgan Stanley upped their price target on shares of Synchrony Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. Finally, Zacks Investment Research downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $37.47.

In other Synchrony Financial news, insider David P. Melito sold 3,204 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $34.00, for a total value of $108,936.00. Following the completion of the sale, the insider now owns 29,476 shares in the company, valued at approximately $1,002,184. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David P. Melito sold 6,014 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $34.25, for a total transaction of $205,979.50. Following the completion of the sale, the insider now owns 29,476 shares of the company’s stock, valued at approximately $1,009,553. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. increased its holdings in shares of Synchrony Financial by 250.2% in the 1st quarter. Marshall Wace North America L.P. now owns 223,640 shares of the financial services provider’s stock worth $7,134,000 after acquiring an additional 159,785 shares during the period. Clearbridge Investments LLC boosted its position in Synchrony Financial by 7.1% during the 1st quarter. Clearbridge Investments LLC now owns 7,076,477 shares of the financial services provider’s stock worth $225,740,000 after acquiring an additional 469,590 shares during the last quarter. Allstate Corp boosted its position in Synchrony Financial by 7.9% during the 1st quarter. Allstate Corp now owns 74,158 shares of the financial services provider’s stock worth $2,366,000 after acquiring an additional 5,414 shares during the last quarter. Horizon Investments LLC acquired a new position in Synchrony Financial during the 1st quarter worth approximately $214,000. Finally, Redwood Investment Management LLC acquired a new position in Synchrony Financial during the 1st quarter worth approximately $2,732,000. Institutional investors own 85.10% of the company’s stock.

Shares of NYSE:SYF opened at $33.79 on Monday. The company has a market cap of $23.41 billion, a P/E ratio of 9.03, a P/E/G ratio of 1.03 and a beta of 1.23. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.27 and a current ratio of 1.39. Synchrony Financial has a 12-month low of $21.77 and a 12-month high of $35.55.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.49%. Synchrony Financial’s payout ratio is 22.46%.

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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