Synchrony Financial (SYF) Issues Quarterly Earnings Results
Synchrony Financial (NYSE:SYF) announced its quarterly earnings results on Friday. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06, Bloomberg Earnings reports. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. During the same period last year, the company earned $0.73 EPS.
Shares of Synchrony Financial (NYSE SYF) opened at 33.04 on Friday. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06. The company’s 50 day moving average price is $30.35 and its 200 day moving average price is $29.94. The firm has a market capitalization of $26.28 billion, a P/E ratio of 12.41 and a beta of 1.01.
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In related news, Director Paget Leonard Alves acquired 2,000 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the purchase, the director now directly owns 8,521 shares in the company, valued at $262,872.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is owned by corporate insiders.
SYF has been the topic of several recent analyst reports. TheStreet upgraded shares of Synchrony Financial from a “c” rating to a “b” rating in a research note on Monday, July 31st. BMO Capital Markets reiterated a “buy” rating on shares of Synchrony Financial in a research note on Friday, July 21st. Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Synchrony Financial in a research note on Friday, July 14th. Instinet reiterated a “buy” rating and issued a $35.00 price target (down from $38.00) on shares of Synchrony Financial in a research note on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $39.00 price target on shares of Synchrony Financial in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $36.63.
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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