Synchrony Financial (NYSE:SYF) Forecasted to Earn Q4 2024 Earnings of $0.52 Per Share

Synchrony Financial (NYSE:SYF) – Equities research analysts at Seaport Res Ptn raised their Q4 2024 earnings per share (EPS) estimates for Synchrony Financial in a research report issued to clients and investors on Thursday, April 25th. Seaport Res Ptn analyst W. Ryan now forecasts that the financial services provider will earn $0.52 per share for the quarter, up from their prior estimate of $0.50. The consensus estimate for Synchrony Financial’s current full-year earnings is $5.63 per share.

A number of other research firms also recently commented on SYF. JMP Securities lifted their target price on shares of Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Friday, January 12th. Bank of America lifted their target price on Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Morgan Stanley restated an “underweight” rating and set a $30.00 price target on shares of Synchrony Financial in a report on Thursday, February 8th. Finally, Wells Fargo & Company upped their price target on shares of Synchrony Financial from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial has an average rating of “Hold” and an average price target of $42.72.

Synchrony Financial Price Performance

SYF stock opened at $43.99 on Monday. The firm has a 50 day moving average price of $41.84 and a 200-day moving average price of $37.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.24. The firm has a market capitalization of $17.66 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 1.09 and a beta of 1.61. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $45.46.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.19). Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the firm earned $1.35 EPS.

Hedge Funds Weigh In On Synchrony Financial

Several hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in shares of Synchrony Financial by 0.7% during the first quarter. Fifth Third Bancorp now owns 38,247 shares of the financial services provider’s stock worth $1,649,000 after purchasing an additional 250 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in Synchrony Financial by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock valued at $1,518,000 after buying an additional 262 shares during the period. US Bancorp DE increased its position in shares of Synchrony Financial by 0.8% in the fourth quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock worth $1,329,000 after acquiring an additional 268 shares in the last quarter. MV Capital Management Inc. raised its position in Synchrony Financial by 8.3% in the first quarter. MV Capital Management Inc. now owns 3,509 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 270 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Synchrony Financial by 4.3% in the fourth quarter. Assetmark Inc. now owns 6,933 shares of the financial services provider’s stock valued at $265,000 after buying an additional 288 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now directly owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the sale, the insider now owns 660,353 shares in the company, valued at $27,246,164.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the sale, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. Insiders have sold a total of 148,158 shares of company stock worth $6,106,106 in the last ninety days. 0.65% of the stock is owned by corporate insiders.

Synchrony Financial declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, May 3rd. Synchrony Financial’s payout ratio is 14.35%.

About Synchrony Financial

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.