Synchrony Financial (NYSE:SYF) Issues Earnings Results

Synchrony Financial (NYSE:SYF) released its earnings results on Wednesday. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.17, Briefing.com reports. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. Synchrony Financial updated its FY 2024 guidance to 8.450-8.550 EPS.

Synchrony Financial Stock Performance

Shares of SYF opened at $56.53 on Thursday. Synchrony Financial has a 1 year low of $27.30 and a 1 year high of $56.59. The company’s 50 day simple moving average is $49.02 and its 200 day simple moving average is $46.43. The company has a market capitalization of $22.34 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.26 and a beta of 1.61. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.89%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYF. JMP Securities restated a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a research note on Monday. BMO Capital Markets decreased their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research report on Thursday, July 18th. Robert W. Baird started coverage on shares of Synchrony Financial in a report on Friday, June 28th. They issued an “outperform” rating and a $56.00 price target for the company. Evercore ISI decreased their price objective on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Jefferies Financial Group upped their target price on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.70.

Insiders Place Their Bets

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

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.