Synchrony Financial (NYSE:SYF) Releases FY 2024 Earnings Guidance

Synchrony Financial (NYSE:SYF) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 8.450-8.550 for the period, compared to the consensus EPS estimate of 7.710. The company issued revenue guidance of -.

Synchrony Financial Trading Down 0.7 %

SYF stock opened at $53.29 on Wednesday. The firm’s 50-day moving average is $48.77 and its 200 day moving average is $46.36. The company has a market capitalization of $21.06 billion, a PE ratio of 7.40, a P/E/G ratio of 1.21 and a beta of 1.61. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $54.79. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. During the same period last year, the business earned $1.32 EPS. On average, research analysts anticipate that Synchrony Financial will post 5.81 EPS for the current year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Monday, August 5th. Synchrony Financial’s dividend payout ratio is presently 13.89%.

Analysts Set New Price Targets

SYF has been the topic of several recent research reports. Robert W. Baird began coverage on Synchrony Financial in a research report on Friday, June 28th. They issued an outperform rating and a $56.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of Synchrony Financial from $49.00 to $56.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Jefferies Financial Group upped their target price on Synchrony Financial from $50.00 to $55.00 and gave the company a buy rating in a report on Tuesday, July 9th. StockNews.com upgraded shares of Synchrony Financial from a hold rating to a buy rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price target on shares of Synchrony Financial from $49.00 to $53.00 and gave the company an equal weight rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synchrony Financial has a consensus rating of Moderate Buy and an average price target of $52.40.

Insider Transactions at Synchrony Financial

In other 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 value of $3,490,637.54. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the company’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 owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial 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 completion of the transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The trade was 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.