Seaport Res Ptn Brokers Raises Earnings Estimates for Synchrony Financial (NYSE:SYF)
synchronization finances (NYSE:SYF – received rating) – Equity researchers at Seaport Res Ptn have raised their estimates of fiscal 2022 earnings per share (EPS) for Synchrony Financial in a report published on Tuesday, November 1. Seaport Res Ptn analyst W. Ryan now forecasts the financial services provider to report earnings per share for the year of $6.06, up from its previous forecast of $5.81. The consensus estimate for Synchrony Financial’s most recent full-year earnings is $5.83 per share. Seaport Res Ptn also released estimates for Synchrony Financial’s fiscal 2023 earnings of $5.20 per share and fiscal 2024 of $5.95 per share.
Several other research analysts also recently issued reports on the company. Wells Fargo & Company downgraded Synchrony Financial from an “overweight” rating to an “equiweight” rating in a research report on Wednesday, July 13, and lowered its price target on the stock to 32 from $45.00. $00. Citigroup increased its target price on Synchrony Financial to $44.00 from $42.00 and gave the stock a “buy” rating in a research report on Wednesday, October 26. Morgan Stanley lowered its price target on Synchrony Financial to $31.00 from $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 5. Barclays lowered its target price on Synchrony Financial to $41.00 from $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 13. Finally, on Wednesday, October 26, BMO Capital Markets raised its price target on Synchrony Financial to $52.00 from $42.00 in a research note. One research analyst has rated the company’s stock with a sell rating, four with a hold rating and seven with a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.79.
Synchrony Financial Trading up 1.0%
shares of NYSE:SYF opened on Wednesday for $35.90. The stock has a market cap of $16.17 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 0.89, and a beta of 1.55. The company has a debt to equity ratio of 1.17, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s 50-day simple moving average is $32.09 and its 200-day simple moving average is $33.10. Synchrony Financial has a 52-week low of $27.22 and a 52-week high of $51.08.
synchronization finances (NYSE:SYF – received rating) last announced its earnings results on Tuesday, October 25th. The financial services firm reported earnings per share (EPS) of $1.47 for the quarter, beating the consensus estimate of $1.42 by $0.05. The company made $3.93 billion in revenue for the quarter, compared to analysts’ expectations of $3.84 billion. Synchrony Financial had a return on equity of 25.56% and a net margin of 19.47%.
Institutional Trading by Synchrony Financial
Several institutional investors and hedge funds have recently added to or reduced their holdings in SYF. BlackRock Inc. increased its holding in Synchrony Financial by 2.4% in the first quarter. BlackRock Inc. now owns 47,846,561 shares of the financial services provider valued at $1,665,537,000 after purchasing an additional 1,102,772 shares last quarter. Goldman Sachs Group Inc. increased its holding in Synchrony Financial by 5.2% in the second quarter. Goldman Sachs Group Inc. now owns 8,547,277 shares of the financial services provider valued at $236,077,000 after purchasing an additional 423,606 shares last quarter. Dimensional Fund Advisors LP increased its holding in Synchrony Financial by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,971,125 shares of the financial services provider valued at $242,720,000 after purchasing an additional 470,937 shares last quarter. First Trust Advisors LP increased its holding in Synchrony Financial by 853.5% during the first quarter. First Trust Advisors LP now owns 6,218,641 shares of the financial services firm valued at $216,471,000 after purchasing an additional 5,566,481 shares last quarter. Finally, CI Investments Inc. increased its holding in Synchrony Financial by 37.6% during the first quarter. CI Investments Inc. now owns 5,983,370 shares of the financial services firm valued at $208,281,000 after purchasing an additional 1,635,166 shares last quarter. Institutional investors own 94.12% of the company’s shares.
Announcement of the Synchrony financial dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Tuesday, November 1 will receive a dividend of $0.23 per share. That equates to an annualized dividend of $0.92 and a yield of 2.56%. The ex-dividend date is Monday October 31st. Synchrony Financial’s dividend payout ratio (DPR) is currently 14.56%.
Synchrony Financial company profile
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It offers lending products such as credit cards, commercial lending products and consumer installment loans. The Company also offers private label credit cards, dual card, co-branded 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 for both retail and commercial customers, and accepts deposits through third-party securities brokerage firms.
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