Traders Buy Shares of Synchrony Financial (SYF) on Weakness
Investors bought shares of Synchrony Financial (NYSE:SYF) on weakness during trading hours on Monday. $36.72 million flowed into the stock on the tick-up and $10.33 million flowed out of the stock on the tick-down, for a money net flow of $26.39 million into the stock. Of all stocks tracked, Synchrony Financial had the 21st highest net in-flow for the day. Synchrony Financial traded down ($0.18) for the day and closed at $28.04
A number of brokerages have weighed in on SYF. JPMorgan Chase & Co. reissued a “buy” rating on shares of Synchrony Financial in a report on Saturday, July 9th. Deutsche Bank AG reissued a “buy” rating on shares of Synchrony Financial in a report on Saturday, July 9th. JMP Securities reissued a “buy” rating on shares of Synchrony Financial in a report on Saturday, July 9th. Nomura reissued a “buy” rating on shares of Synchrony Financial in a report on Saturday, July 9th. Finally, Jefferies Group reissued a “buy” rating on shares of Synchrony Financial in a report on Sunday, April 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Synchrony Financial presently has an average rating of “Buy” and a consensus price target of $40.63.
The company has a 50-day moving average price of $26.94 and a 200-day moving average price of $28.28. The stock has a market cap of $23.38 billion and a PE ratio of 10.70.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. During the same period in the prior year, the firm posted $0.65 earnings per share. Analysts expect that Synchrony Financial will post $2.64 EPS for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Thursday, August 25th. Investors of record on Friday, August 12th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, August 10th.
In other Synchrony Financial news, insider Brian D. Doubles sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $30.00, for a total transaction of $30,000.00. Following the transaction, the insider now owns 167,638 shares in the company, valued at $5,029,140. The sale was disclosed in a document filed with the SEC, which is available 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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