Synchrony Financial (NYSE:SYF) Issues FY 2024 Earnings Guidance

Synchrony Financial (NYSE:SYF) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 8.450-8.550 for the period, compared to the consensus EPS estimate of 7.710. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JMP Securities reaffirmed a market outperform rating and set a $60.00 price objective on shares of Synchrony Financial in a research note on Monday. BTIG Research cut shares of Synchrony Financial from a buy rating to a neutral rating in a research report on Monday, September 16th. StockNews.com upgraded Synchrony Financial from a hold rating to a buy rating in a report on Wednesday, October 9th. Royal Bank of Canada increased their price objective on shares of Synchrony Financial from $50.00 to $55.00 and gave the company a sector perform rating in a research report on Thursday, July 18th. Finally, Robert W. Baird began coverage on Synchrony Financial in a report on Friday, June 28th. They set an outperform rating and a $56.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $52.40.

Synchrony Financial Stock Performance

NYSE:SYF opened at $53.29 on Wednesday. The firm’s fifty day simple moving average is $48.77 and its 200 day simple moving average is $46.36. The stock has a market cap of $21.06 billion, a P/E ratio of 7.40, a price-to-earnings-growth ratio of 1.21 and a beta of 1.61. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $54.79.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. During the same quarter last year, the company earned $1.32 EPS. As a group, research analysts predict that Synchrony Financial will post 5.81 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. Synchrony Financial’s dividend payout ratio is presently 13.89%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the transaction, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bart Schaller sold 930 shares of the business’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 value of $47,281.20. Following the transaction, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This trade represents a 0.00 % decrease in their position. 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.