Analysts expect Synchrony Financial (NYSE:SYF) to report $4.31 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Synchrony Financial’s earnings, with the lowest sales estimate coming in at $4.26 billion and the highest estimate coming in at $4.34 billion. Synchrony Financial reported sales of $3.84 billion during the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The firm is expected to issue its next earnings results on Friday, April 19th.
According to Zacks, analysts expect that Synchrony Financial will report full year sales of $16.24 billion for the current fiscal year, with estimates ranging from $13.46 billion to $17.21 billion. For the next fiscal year, analysts forecast that the company will post sales of $16.70 billion, with estimates ranging from $16.27 billion to $17.32 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Synchrony Financial.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Synchrony Financial had a net margin of 15.45% and a return on equity of 19.41%. During the same period last year, the business earned $0.70 EPS.
SYF has been the subject of a number of research reports. Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Friday, February 8th. CIBC upgraded Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research report on Thursday, January 24th. ValuEngine upgraded Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Thursday. TheStreet lowered Synchrony Financial from a “b-” rating to a “c+” rating in a research report on Monday, November 19th. Finally, Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Wednesday, January 30th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $37.64.
In related news, insider Henry F. Greig sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $33.00, for a total transaction of $1,650,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David P. Melito sold 3,934 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $30.00, for a total value of $118,020.00. Following the sale, the insider now directly owns 29,486 shares of the company’s stock, valued at $884,580. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,342 shares of company stock worth $1,966,668. Insiders own 0.07% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its holdings in Synchrony Financial by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 18,623,457 shares of the financial services provider’s stock valued at $578,816,000 after acquiring an additional 1,334,141 shares during the period. MML Investors Services LLC bought a new position in Synchrony Financial in the 3rd quarter worth approximately $597,000. Macquarie Group Ltd. raised its position in Synchrony Financial by 4.9% in the 3rd quarter. Macquarie Group Ltd. now owns 403,873 shares of the financial services provider’s stock worth $12,552,000 after purchasing an additional 18,740 shares during the last quarter. D.A. Davidson & CO. raised its position in Synchrony Financial by 4.7% in the 4th quarter. D.A. Davidson & CO. now owns 215,241 shares of the financial services provider’s stock worth $5,050,000 after purchasing an additional 9,658 shares during the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC raised its position in Synchrony Financial by 4.3% in the 3rd quarter. Worldquant Millennium Quantitative Strategies LLC now owns 362,619 shares of the financial services provider’s stock worth $11,270,000 after purchasing an additional 14,801 shares during the last quarter. 85.75% of the stock is owned by hedge funds and other institutional investors.
Shares of Synchrony Financial stock traded up $0.10 on Wednesday, hitting $33.41. 2,063,834 shares of the company traded hands, compared to its average volume of 8,210,342. The stock has a market cap of $23.65 billion, a P/E ratio of 8.93, a PEG ratio of 0.82 and a beta of 1.29. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.41 and a quick ratio of 1.41. Synchrony Financial has a 52 week low of $21.77 and a 52 week high of $36.32.
About Synchrony Financial
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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