Investors Buy Shares of Synchrony Financial (SYF) on Weakness
Investors bought shares of Synchrony Financial (NYSE:SYF) on weakness during trading hours on Wednesday. $53.45 million flowed into the stock on the tick-up and $32.38 million flowed out of the stock on the tick-down, for a money net flow of $21.07 million into the stock. Of all equities tracked, Synchrony Financial had the 15th highest net in-flow for the day. Synchrony Financial traded down ($0.10) for the day and closed at $27.65
Several research firms have recently weighed in on SYF. Deutsche Bank AG upped their target price on shares of Synchrony Financial from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, May 4th. BTIG Research reaffirmed a “positive” rating and issued a $42.00 target price on shares of Synchrony Financial in a report on Tuesday, June 14th. Macquarie began coverage on shares of Synchrony Financial in a report on Wednesday, May 11th. They issued a “neutral” rating and a $37.00 target price on the stock. Barclays PLC reaffirmed an “overweight” rating and issued a $41.00 target price on shares of Synchrony Financial in a report on Friday, July 15th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $36.00 target price (down previously from $37.00) on shares of Synchrony Financial in a report on Wednesday, June 15th. One 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.63.
The stock has a market cap of $23.06 billion and a price-to-earnings ratio of 10.55. The firm’s 50 day moving average price is $27.06 and its 200 day moving average price is $28.27.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, July 22nd. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. During the same period last year, the company posted $0.65 EPS. Analysts predict that Synchrony Financial will post $2.64 earnings per share for the current fiscal year.
The firm also recently announced a special dividend, which will be paid on Thursday, August 25th. Shareholders 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 other news, insider Brian D. Doubles sold 1,000 shares of the business’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 sale, the insider now directly owns 167,638 shares in the company, valued at $5,029,140. The transaction was disclosed in a document filed with the SEC, which is accessible 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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