Synchrony Financial (SYF) Stock Price Up 2.2%
Synchrony Financial (NYSE:SYF) rose 2.2% during mid-day trading on Thursday . The company traded as high as $26.08 and last traded at $25.86, with a volume of 7,209,511 shares trading hands. The stock had previously closed at $25.31.
Several equities research analysts recently weighed in on SYF shares. Vetr raised shares of Synchrony Financial from a “buy” rating to a “strong-buy” rating and set a $31.31 target price on the stock in a research note on Wednesday, March 16th. Citigroup Inc. reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Tuesday, April 5th. Zacks Investment Research downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. Bank of America Corp. downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating and upped their target price for the stock from $27.97 to $28.00 in a research note on Friday, April 8th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Synchrony Financial in a research note on Saturday, April 9th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $40.50.
The company has a 50-day moving average price of $28.04 and a 200 day moving average price of $28.46. The stock has a market capitalization of $22.77 billion and a P/E ratio of 10.15.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, April 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.17 billion. During the same quarter in the prior year, the business earned $0.66 EPS. Analysts expect that Synchrony Financial will post $2.63 earnings per share for the current year.
The company also recently disclosed a special dividend, which will be paid on Thursday, August 25th. Stockholders of record on Friday, August 12th will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, August 10th.
In other news, insider Brian D. Doubles sold 1,000 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $30.00, for a total transaction of $30,000.00. Following the sale, the insider now owns 167,638 shares in the company, valued at $5,029,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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