Synchrony Financial (SYF) Trading Up 2.2%
Synchrony Financial (NYSE:SYF)’s share price was up 2.2% during trading on Thursday . The stock traded as high as $26.08 and last traded at $25.86, with a volume of 7,209,511 shares. The stock had previously closed at $25.31.
Several equities analysts recently commented on SYF shares. Deutsche Bank AG boosted their price target on Synchrony Financial from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, May 4th. Citigroup Inc. reissued a “buy” rating on shares of Synchrony Financial in a research report on Tuesday, April 5th. BTIG Research reissued a “positive” rating and set a $42.00 price target on shares of Synchrony Financial in a research report on Tuesday, June 14th. Bank of America Corp. lowered Synchrony Financial from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $27.97 to $28.00 in a research report on Friday, April 8th. They noted that the move was a valuation call. Finally, Macquarie started coverage on Synchrony Financial in a research report on Wednesday, May 11th. They set a “neutral” rating and a $37.00 price target on the stock. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Synchrony Financial has a consensus rating of “Buy” and an average target price of $40.50.
The stock has a 50-day moving average price of $28.23 and a 200 day moving average price of $28.50. The firm has a market capitalization of $21.70 billion and a P/E ratio of 9.67.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, April 22nd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the previous year, the company earned $0.66 EPS. Equities research analysts expect that Synchrony Financial will post $2.64 earnings per share for the current fiscal year.
In related news, insider Brian D. Doubles sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $30.00, for a total transaction of $30,000.00. Following the completion of the sale, the insider now owns 167,638 shares in the company, valued at approximately $5,029,140. The sale was disclosed in a filing with the SEC, which is available through 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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