Synchrony Financial (SYF) to Release Quarterly Earnings on Wednesday

Synchrony Financial (NYSE:SYF) is set to release its earnings data before the market opens on Wednesday, October 16th. Analysts expect Synchrony Financial to post earnings of $1.80 per share for the quarter. Synchrony Financial has set its FY 2024 guidance at 7.600-7.800 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.35 by $0.20. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. During the same quarter last year, the firm posted $1.32 EPS. On average, analysts expect Synchrony Financial to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $53.69 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market cap of $21.22 billion, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 1.21 and a beta of 1.61. The firm has a 50-day moving average of $48.59 and a two-hundred day moving average of $46.28. Synchrony Financial has a 1 year low of $27.30 and a 1 year high of $53.92.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were issued a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. Synchrony Financial’s payout ratio is 13.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SYF. BTIG Research lowered Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. JMP Securities restated a “market outperform” rating and issued a $60.00 price objective on shares of Synchrony Financial in a report on Monday. Wells Fargo & Company upped their price objective on shares of Synchrony Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 9th. Finally, Barclays upped their price target on shares of Synchrony Financial from $46.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.40.

Insider Activity

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Bart Schaller sold 930 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares in the company, valued at $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the sale, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

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.