Zacks Research Has Negative Estimate for SYF FY2024 Earnings

Synchrony Financial (NYSE:SYF) – Investment analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Synchrony Financial in a report released on Tuesday, December 17th. Zacks Research analyst K. Dey now forecasts that the financial services provider will post earnings of $6.48 per share for the year, down from their previous estimate of $6.49. The consensus estimate for Synchrony Financial’s current full-year earnings is $6.51 per share. Zacks Research also issued estimates for Synchrony Financial’s Q4 2024 earnings at $1.81 EPS, Q3 2025 earnings at $1.69 EPS and FY2025 earnings at $6.05 EPS.

Other research analysts have also recently issued reports about the company. BTIG Research cut Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Jefferies Financial Group raised their price objective on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. TD Cowen increased their price target on shares of Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Compass Point lifted their price objective on Synchrony Financial from $60.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.63.

Synchrony Financial Trading Up 1.8 %

Shares of SYF opened at $65.45 on Friday. The stock’s 50-day moving average price is $62.61 and its 200 day moving average price is $52.90. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $25.48 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 0.82 and a beta of 1.63. Synchrony Financial has a 12-month low of $35.29 and a 12-month high of $69.39.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the company earned $1.48 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s dividend payout ratio is 13.05%.

Insider Transactions at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares of the company’s stock, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Synchrony Financial

A number of large investors have recently bought and sold shares of the business. Graypoint LLC lifted its holdings in shares of Synchrony Financial by 4.0% in the third quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 181 shares in the last quarter. Empirical Finance LLC raised its position in Synchrony Financial by 1.3% in the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after buying an additional 204 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Synchrony Financial by 1.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock valued at $997,000 after acquiring an additional 227 shares in the last quarter. Wedmont Private Capital boosted its position in Synchrony Financial by 3.3% during the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 242 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Synchrony Financial by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after acquiring an additional 251 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Company Profile

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.