Synchrony Financial Forecasted to Earn Q1 2023 Earnings of $1.60 Per Share (NYSE:SYF)

Synchrony Financial (NYSE:SYFGet Rating) – Stock analysts at Jefferies Financial Group reduced their Q1 2023 earnings per share estimates for Synchrony Financial in a report issued on Monday, January 23rd. Jefferies Financial Group analyst J. Hecht now expects that the financial services provider will post earnings of $1.60 per share for the quarter, down from their prior estimate of $1.86. The consensus estimate for Synchrony Financial’s current full-year earnings is $5.02 per share. Jefferies Financial Group also issued estimates for Synchrony Financial’s Q2 2023 earnings at $1.11 EPS, Q3 2023 earnings at $1.35 EPS, FY2023 earnings at $5.00 EPS, Q1 2024 earnings at $2.32 EPS, Q4 2024 earnings at $0.90 EPS and FY2024 earnings at $5.56 EPS.

Synchrony Financial (NYSE:SYFGet Rating) last posted its quarterly earnings data on Monday, January 23rd. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.14. The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Synchrony Financial had a return on equity of 24.07% and a net margin of 17.51%. During the same period in the prior year, the firm earned $1.48 earnings per share.

Several other research firms have also recently weighed in on SYF. JPMorgan Chase & Co. reduced their price objective on Synchrony Financial from $39.00 to $36.00 in a research report on Tuesday, January 10th. Barclays lowered Synchrony Financial from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $41.00 to $38.00 in a report on Friday, January 6th. Wells Fargo & Company upped their target price on Synchrony Financial from $32.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, December 15th. TheStreet upgraded Synchrony Financial from a “c+” rating to a “b-” rating in a report on Tuesday, November 1st. Finally, Credit Suisse Group dropped their target price on Synchrony Financial from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.27.

Synchrony Financial Stock Up 2.3 %

SYF stock opened at $35.37 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.20 and a quick ratio of 1.21. The stock has a market capitalization of $15.94 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.98 and a beta of 1.61. The business has a 50-day moving average of $34.25 and a 200-day moving average of $33.43. Synchrony Financial has a fifty-two week low of $27.22 and a fifty-two week high of $47.05.

Institutional Investors Weigh In On Synchrony Financial

Large investors have recently modified their holdings of the business. Ellevest Inc. boosted its holdings in shares of Synchrony Financial by 59.0% in the 3rd quarter. Ellevest Inc. now owns 6,012 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 2,231 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Synchrony Financial by 22.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 203,239 shares of the financial services provider’s stock valued at $5,612,000 after acquiring an additional 37,573 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Synchrony Financial by 50.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,799,388 shares of the financial services provider’s stock valued at $77,319,000 after acquiring an additional 943,553 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Synchrony Financial by 3.6% in the 2nd quarter. Wealthfront Advisers LLC now owns 39,820 shares of the financial services provider’s stock valued at $1,100,000 after acquiring an additional 1,382 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Synchrony Financial by 172.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,615 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 2,921 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.

Insider Activity

In related news, insider Carol Juel sold 31,303 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $40.00, for a total transaction of $1,252,120.00. Following the sale, the insider now owns 55,929 shares of the company’s stock, valued at $2,237,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Carol Juel sold 31,303 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $40.00, for a total transaction of $1,252,120.00. Following the sale, the insider now owns 55,929 shares of the company’s stock, valued at $2,237,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Margaret M. Keane sold 68,369 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $36.50, for a total value of $2,495,468.50. Following the completion of the sale, the insider now directly owns 762,786 shares in the company, valued at approximately $27,841,689. The disclosure for this sale can be found here. 0.55% of the stock is owned by company insiders.

About Synchrony Financial

(Get Rating)

Synchrony Financial engages in the provision of consumer financial services. It operates through three sales platforms: Retail Card, Payment Solutions, and CareCredit. The Retail Card platform is a provider of private label credit cards, and also provides Dual Cards and small-and medium-sized business credit products.

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

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