Brokers Set Expectations for Synchrony Financial’s Q3 2016 Earnings (SYF)
Synchrony Financial (NYSE:SYF) – DA Davidson lowered their Q3 2016 earnings per share estimates for Synchrony Financial in a research note issued on Thursday. DA Davidson analyst A. Cyganovich now expects that the brokerage will post earnings per share of $0.67 for the quarter, down from their prior estimate of $0.70. DA Davidson also issued estimates for Synchrony Financial’s FY2018 earnings at $3.40 EPS.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Synchrony Financial had a net margin of 15.63% and a return on equity of 16.97%. During the same period in the previous year, the business earned $0.65 EPS.
A number of other research firms have also recently weighed in on SYF. BTIG Research reaffirmed a “buy” rating and set a $42.00 price objective on shares of Synchrony Financial in a research report on Monday, July 25th. Barclays PLC reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Synchrony Financial in a report on Friday, July 15th. Zacks Investment Research cut Synchrony Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Bank of America Corp. reaffirmed a “neutral” rating and set a $30.00 price objective (up from $28.00) on shares of Synchrony Financial in a report on Tuesday, July 26th. Finally, Credit Suisse Group AG set a $37.00 price objective on Synchrony Financial and gave the stock a “buy” rating in a report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.87.
Synchrony Financial (NYSE:SYF) opened at 26.42 on Monday. Synchrony Financial has a 52-week low of $23.25 and a 52-week high of $34.60. The company has a market capitalization of $22.03 billion, a PE ratio of 10.08 and a beta of 0.92. The company has a 50 day moving average of $27.21 and a 200 day moving average of $28.18.
Hedge funds have recently bought and sold shares of the company. D Orazio & Associates Inc. raised its stake in shares of Synchrony Financial by 75.0% in the second quarter. D Orazio & Associates Inc. now owns 4,200 shares of the company’s stock valued at $106,000 after buying an additional 1,800 shares during the last quarter. Societe Generale acquired a new stake in shares of Synchrony Financial during the second quarter valued at approximately $118,000. Daiwa SB Investments Ltd. raised its stake in shares of Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock valued at $130,000 after buying an additional 410 shares during the last quarter. Euclid Advisors LLC acquired a new stake in shares of Synchrony Financial during the second quarter valued at approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Synchrony Financial by 58.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,688 shares of the company’s stock valued at $144,000 after buying an additional 2,090 shares during the last quarter. 87.94% of the stock is currently owned by hedge funds and other institutional investors.
Synchrony Financial Company Profile
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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