Synchrony Financial Forecasted to Post Q1 2019 Earnings of $0.97 Per Share (SYF)
Synchrony Financial (NYSE:SYF) – Stock analysts at Oppenheimer issued their Q1 2019 earnings estimates for shares of Synchrony Financial in a note issued to investors on Thursday, January 24th. Oppenheimer analyst D. Gabriele anticipates that the financial services provider will post earnings of $0.97 per share for the quarter. Oppenheimer currently has a “Outperform” rating and a $43.00 price target on the stock. Oppenheimer also issued estimates for Synchrony Financial’s Q2 2019 earnings at $0.98 EPS, Q3 2019 earnings at $1.25 EPS and FY2020 earnings at $4.99 EPS.
A number of other equities research analysts have also weighed in on the company. BMO Capital Markets lifted their price objective on Synchrony Financial from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 22nd. Citigroup dropped their price target on Synchrony Financial from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, November 1st. Stephens lowered Synchrony Financial from an “equal weight” rating to a “sell” rating and set a $26.00 price target on the stock. in a research report on Friday, November 2nd. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Monday, October 8th. Finally, ValuEngine lowered Synchrony Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.29.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Synchrony Financial had a return on equity of 19.55% and a net margin of 15.45%. During the same period last year, the company earned $0.70 EPS.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYF. Dubuque Bank & Trust Co. bought a new stake in Synchrony Financial in the fourth quarter worth $43,000. Ayalon Holdings Ltd. bought a new stake in Synchrony Financial in the third quarter worth $140,000. Brown Brothers Harriman & Co. bought a new stake in Synchrony Financial in the third quarter worth $140,000. Campbell & CO Investment Adviser LLC bought a new stake in Synchrony Financial in the third quarter worth $211,000. Finally, IFP Advisors Inc boosted its holdings in Synchrony Financial by 23.7% in the fourth quarter. IFP Advisors Inc now owns 9,170 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 1,756 shares in the last quarter. Institutional investors own 84.16% of the company’s stock.
In related news, insider David P. Melito sold 3,204 shares of Synchrony Financial stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $30.00, for a total transaction of $96,120.00. Following the sale, the insider now directly owns 40,313 shares in the company, valued at $1,209,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.07% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Monday, February 4th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, February 1st. This represents a $0.84 annualized dividend and a dividend yield of 2.82%. Synchrony Financial’s dividend payout ratio is presently 22.46%.
Synchrony Financial Company Profile
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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