Keefe, Bruyette & Woods Reiterates “Buy” Rating for Synchrony Financial (SYF)
Keefe, Bruyette & Woods reiterated their buy rating on shares of Synchrony Financial (NYSE:SYF) in a report published on Thursday morning. Keefe, Bruyette & Woods currently has a $39.00 price target on the financial services provider’s stock.
Several other equities analysts have also recently commented on SYF. Wells Fargo & Company assumed coverage on Synchrony Financial in a research report on Tuesday, October 10th. They set a market perform rating and a $33.00 target price for the company. ValuEngine upgraded Synchrony Financial from a hold rating to a buy rating in a research report on Thursday, June 15th. BidaskClub cut Synchrony Financial from a hold rating to a sell rating in a research report on Saturday, August 5th. TheStreet upgraded Synchrony Financial from a c rating to a b rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC restated a buy rating and set a $40.00 target price on shares of Synchrony Financial in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Synchrony Financial presently has an average rating of Buy and a consensus target price of $36.63.
Shares of Synchrony Financial (SYF) opened at 30.82 on Thursday. The company has a market capitalization of $24.51 billion, a PE ratio of 11.57 and a beta of 1.01. The stock has a 50 day moving average price of $30.22 and a 200 day moving average price of $29.96. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, July 21st. The financial services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the business earned $0.58 earnings per share. On average, analysts predict that Synchrony Financial will post $2.59 earnings per share for the current fiscal year.
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In related news, Director Paget Leonard Alves bought 2,000 shares of the stock in a transaction dated Monday, July 24th. The stock was bought at an average price of $30.85 per share, with a total value of $61,700.00. Following the purchase, the director now owns 8,521 shares in the company, valued at approximately $262,872.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.03% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norman Fields Gottscho Capital Management LLC bought a new stake in shares of Synchrony Financial in the 3rd quarter valued at about $3,620,000. Lord Abbett & CO. LLC lifted its stake in shares of Synchrony Financial by 26.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 491,800 shares of the financial services provider’s stock valued at $14,665,000 after acquiring an additional 103,300 shares during the last quarter. USA Financial Portformulas Corp bought a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $433,000. Advisory Services Network LLC lifted its stake in shares of Synchrony Financial by 18.7% in the 2nd quarter. Advisory Services Network LLC now owns 12,571 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 1,977 shares during the last quarter. Finally, Afam Capital Inc. lifted its stake in shares of Synchrony Financial by 9.7% in the 2nd quarter. Afam Capital Inc. now owns 49,313 shares of the financial services provider’s stock valued at $1,471,000 after acquiring an additional 4,378 shares during the last quarter. 87.07% of the stock is owned by institutional investors.
About Synchrony Financial
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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