Synchrony Financial (NYSE:SYF) Given New $43.00 Price Target at Nomura

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Synchrony Financial (NYSE:SYF) had its target price boosted by Nomura from $39.00 to $43.00 in a report released on Wednesday, The Fly reports. Nomura currently has a buy rating on the financial services provider’s stock.

SYF has been the subject of several other research reports. BMO Capital Markets set a $43.00 price target on shares of Synchrony Financial and gave the company a buy rating in a research report on Sunday, July 21st. ValuEngine cut shares of Synchrony Financial from a hold rating to a sell rating in a research report on Thursday, August 1st. Buckingham Research started coverage on shares of Synchrony Financial in a research report on Monday, July 22nd. They issued a buy rating and a $42.00 price target for the company. Finally, BTIG Research reissued a buy rating and issued a $42.00 price target on shares of Synchrony Financial in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Synchrony Financial has a consensus rating of Buy and a consensus target price of $38.71.

Shares of SYF stock opened at $34.18 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.36 and a debt-to-equity ratio of 1.44. Synchrony Financial has a 52 week low of $21.77 and a 52 week high of $36.87. The stock has a market capitalization of $22.51 billion, a PE ratio of 9.14, a P/E/G ratio of 0.78 and a beta of 1.18. The firm has a 50 day moving average of $33.78 and a two-hundred day moving average of $33.80.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.01. Synchrony Financial had a net margin of 17.82% and a return on equity of 19.50%. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter last year, the company posted $0.92 EPS. Analysts expect that Synchrony Financial will post 4.21 EPS for the current fiscal year.

In other news, insider David P. Melito sold 3,204 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $36.00, for a total value of $115,344.00. Following the sale, the insider now directly owns 23,567 shares in the company, valued at approximately $848,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Synchrony Financial by 29.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,068 shares of the financial services provider’s stock valued at $10,854,000 after purchasing an additional 71,384 shares in the last quarter. NewSquare Capital LLC acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at $42,000. Vestmark Advisory Solutions Inc. raised its holdings in shares of Synchrony Financial by 27.4% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 10,339 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 2,224 shares in the last quarter. Griffin Asset Management Inc. acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at $91,000. Finally, Prudential PLC acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at $325,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

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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Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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