Traders Buy Shares of Synchrony Financial (SYF) on Weakness
Traders purchased shares of Synchrony Financial (NYSE:SYF) on weakness during trading hours on Thursday. $25.88 million flowed into the stock on the tick-up and $17.64 million flowed out of the stock on the tick-down, for a money net flow of $8.24 million into the stock. Of all companies tracked, Synchrony Financial had the 18th highest net in-flow for the day. Synchrony Financial traded down ($0.04) for the day and closed at $27.61
Several equities research analysts have issued reports on the stock. Jefferies Group restated a “buy” rating on shares of Synchrony Financial in a research report on Sunday, May 29th. Deutsche Bank AG raised their price objective on shares of Synchrony Financial from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, May 4th. Vetr upgraded shares of Synchrony Financial from a “buy” rating to a “strong-buy” rating and set a $35.02 price objective for the company in a research report on Monday, June 6th. Zacks Investment Research upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. Finally, Macquarie assumed coverage on shares of Synchrony Financial in a research report on Wednesday, May 11th. They set a “neutral” rating and a $37.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Synchrony Financial has an average rating of “Buy” and an average price target of $40.63.
The firm has a 50 day moving average price of $27.17 and a 200-day moving average price of $28.26. The company has a market cap of $23.08 billion and a PE ratio of 10.56.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.04. During the same quarter in the previous year, the firm earned $0.65 EPS. Equities analysts expect that Synchrony Financial will post $2.64 EPS for the current year.
The firm also recently declared a special dividend, which will be paid on Thursday, August 25th. Investors of record on Friday, August 12th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 10th.
In related news, insider Brian D. Doubles sold 1,000 shares of the company’s 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 directly owns 167,638 shares in the company, valued at approximately $5,029,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
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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