Analysts Issue Forecasts for Synchrony Financial’s Q2 2024 Earnings (NYSE:SYF)

Synchrony Financial (NYSE:SYFFree Report) – Investment analysts at Zacks Research raised their Q2 2024 EPS estimates for Synchrony Financial in a report issued on Tuesday, February 6th. Zacks Research analyst K. Dey now forecasts that the financial services provider will post earnings per share of $1.08 for the quarter, up from their prior estimate of $0.89. The consensus estimate for Synchrony Financial’s current full-year earnings is $5.83 per share. Zacks Research also issued estimates for Synchrony Financial’s Q3 2024 earnings at $1.34 EPS, Q4 2024 earnings at $1.02 EPS, Q1 2025 earnings at $1.69 EPS, Q2 2025 earnings at $1.24 EPS, Q3 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.27 EPS and FY2025 earnings at $5.83 EPS.

Other analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft began coverage on Synchrony Financial in a research note on Wednesday, January 10th. They set a “buy” rating and a $56.00 price target on the stock. TD Cowen initiated coverage on Synchrony Financial in a research report on Wednesday, November 1st. They set an “outperform” rating and a $34.00 target price on the stock. HSBC began coverage on shares of Synchrony Financial in a research report on Friday, October 13th. They set a “hold” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on Synchrony Financial from $38.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 17th. Finally, Morgan Stanley increased their price objective on shares of Synchrony Financial from $29.00 to $30.00 and gave the company an “underweight” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Synchrony Financial has an average rating of “Hold” and a consensus target price of $37.72.

Check Out Our Latest Stock Report on Synchrony Financial

Synchrony Financial Stock Down 0.7 %

SYF stock opened at $38.53 on Thursday. Synchrony Financial has a 52 week low of $26.59 and a 52 week high of $39.88. The firm has a 50 day moving average of $37.34 and a 200 day moving average of $33.35. The company has a quick ratio of 1.23, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $15.94 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62.

Synchrony Financial (NYSE:SYFGet Free Report) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same quarter in the prior year, the business earned $1.26 earnings per share.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, February 2nd. Synchrony Financial’s dividend payout ratio (DPR) is currently 19.31%.

Insiders Place Their Bets

In related news, insider David P. Melito sold 7,283 shares of Synchrony Financial stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the transaction, the insider now owns 14,183 shares in the company, valued at $552,995.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Bart Schaller sold 4,644 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $37.50, for a total value of $174,150.00. Following the completion of the sale, the insider now directly owns 60,266 shares of the company’s stock, valued at $2,259,975. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the transaction, the insider now owns 14,183 shares in the company, valued at approximately $552,995.17. The disclosure for this sale can be found here. Insiders sold a total of 12,460 shares of company stock worth $477,302 over the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC acquired a new position in Synchrony Financial in the fourth quarter valued at $215,000. Boston Partners increased its position in Synchrony Financial by 23.6% in the 4th quarter. Boston Partners now owns 3,826,080 shares of the financial services provider’s stock valued at $146,112,000 after acquiring an additional 730,318 shares during the period. AlphaStar Capital Management LLC purchased a new stake in Synchrony Financial during the 4th quarter valued at approximately $389,000. Qsemble Capital Management LP acquired a new stake in Synchrony Financial during the 4th quarter worth approximately $391,000. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of Synchrony Financial by 5.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 55,726 shares of the financial services provider’s stock valued at $2,128,000 after purchasing an additional 3,089 shares during the last quarter. Hedge funds and other institutional investors own 94.72% of the company’s stock.

About Synchrony Financial

(Get Free Report)

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

See Also

Earnings History and Estimates for Synchrony Financial (NYSE:SYF)

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