Brokerages Set Synchrony Financial (SYF) PT at $42.87
Shares of Synchrony Financial (NYSE:SYF) have been given a consensus rating of “Buy” by the twenty-two brokerages that are currently covering the firm. Three analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $43.26.
Several equities research analysts have issued reports on the company. Jefferies Group reissued a “buy” rating and set a $45.00 target price (up previously from $43.00) on shares of Synchrony Financial in a research note on Monday, January 9th. Zacks Investment Research raised Synchrony Financial from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Thursday, November 24th. Wedbush assumed coverage on Synchrony Financial in a research note on Monday, October 10th. They set an “outperform” rating and a $31.00 target price for the company. DA Davidson reissued a “buy” rating on shares of Synchrony Financial in a research note on Thursday, December 15th. Finally, Compass Point assumed coverage on Synchrony Financial in a research note on Friday, November 4th. They set a “buy” rating and a $34.00 target price for the company.
In other Synchrony Financial news, insider David P. Melito sold 2,159 shares of Synchrony Financial stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $33.54, for a total transaction of $72,412.86. Following the completion of the sale, the insider now directly owns 40,863 shares of the company’s stock, valued at approximately $1,370,545.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David P. Melito sold 1,392 shares of Synchrony Financial stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $38.00, for a total value of $52,896.00. Following the sale, the insider now directly owns 42,255 shares of the company’s stock, valued at $1,605,690. The disclosure for this sale can be found here. Company insiders own 0.02% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SYF. Price T Rowe Associates Inc. MD increased its stake in shares of Synchrony Financial by 64.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 14,281,564 shares of the company’s stock worth $399,884,000 after buying an additional 5,598,606 shares during the period. CI Investments Inc. increased its stake in shares of Synchrony Financial by 170.2% in the second quarter. CI Investments Inc. now owns 6,698,178 shares of the company’s stock worth $169,330,000 after buying an additional 4,219,374 shares during the period. Senator Investment Group LP increased its stake in shares of Synchrony Financial by 46.7% in the second quarter. Senator Investment Group LP now owns 11,000,000 shares of the company’s stock worth $278,080,000 after buying an additional 3,500,000 shares during the period. Janus Capital Management LLC increased its stake in shares of Synchrony Financial by 13.6% in the second quarter. Janus Capital Management LLC now owns 27,841,462 shares of the company’s stock worth $703,816,000 after buying an additional 3,336,585 shares during the period. Finally, Bank of Montreal Can acquired a new stake in shares of Synchrony Financial during the second quarter worth about $70,376,000. 85.88% of the stock is owned by institutional investors.
Shares of Synchrony Financial (NYSE:SYF) opened at 36.32 on Wednesday. The stock has a market capitalization of $29.98 billion, a PE ratio of 13.65 and a beta of 1.08. The company’s 50 day moving average price is $36.20 and its 200-day moving average price is $30.04. Synchrony Financial has a 52 week low of $23.25 and a 52 week high of $38.06.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 21st. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.04. Synchrony Financial had a return on equity of 16.61% and a net margin of 15.40%. During the same quarter in the prior year, the business earned $0.69 EPS. Equities research analysts predict that Synchrony Financial will post $2.67 EPS for the current year.
About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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