BidaskClub Lowers Synchrony Financial (SYF) to Sell
BidaskClub cut shares of Synchrony Financial (NYSE:SYF) from a hold rating to a sell rating in a research report released on Saturday.
Several other brokerages have also recently issued reports on SYF. TheStreet cut shares of Synchrony Financial from a b rating to a c+ rating in a research note on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Synchrony Financial in a research note on Sunday, April 30th. ValuEngine cut shares of Synchrony Financial from a buy rating to a hold rating in a research note on Friday, June 2nd. Jefferies Group LLC reaffirmed a buy rating and set a $40.00 target price on shares of Synchrony Financial in a research note on Friday, June 9th. Finally, Citigroup Inc. lowered their target price on shares of Synchrony Financial from $43.00 to $35.00 and set a buy rating on the stock in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Synchrony Financial has a consensus rating of Buy and an average target price of $37.46.
Synchrony Financial (NYSE SYF) traded down 0.13% during trading on Friday, reaching $29.87. 7,284,103 shares of the company’s stock traded hands. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06. The company has a 50-day moving average price of $29.69 and a 200 day moving average price of $32.02. The firm has a market capitalization of $23.76 billion, a PE ratio of 11.22 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the company posted $0.58 EPS. On average, analysts anticipate that Synchrony Financial will post $2.60 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 7th will be given a dividend of $0.15 per share. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, August 3rd. This represents a $0.60 annualized dividend and a dividend yield of 2.01%. Synchrony Financial’s payout ratio is presently 22.64%.
Synchrony Financial declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 18th that permits the company to buyback $1.64 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, Director Paget Leonard Alves purchased 2,000 shares of the stock in a transaction dated Monday, July 24th. The shares were purchased at an average price of $30.85 per share, with a total value of $61,700.00. Following the transaction, the director now owns 8,521 shares in the company, valued at approximately $262,872.85. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.03% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. First Quadrant L P CA raised its stake in shares of Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after buying an additional 1,328 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Synchrony Financial by 41.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,280 shares of the financial services provider’s stock valued at $113,000 after buying an additional 965 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Synchrony Financial during the first quarter valued at about $152,000. Coconut Grove Bank raised its stake in shares of Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock valued at $154,000 after buying an additional 2,170 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Synchrony Financial by 28.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,901 shares of the financial services provider’s stock valued at $168,000 after buying an additional 1,077 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.
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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