Synchrony Financial (NYSE:SYF) Releases Earnings Results, Beats Expectations By $0.26 EPS

Synchrony Financial (NYSE:SYF) posted its quarterly earnings results on Tuesday. The financial services provider reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.26, FiscalAI reports. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.81 billion. Synchrony Financial had a net margin of 15.44% and a return on equity of 23.09%.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $74.02 on Tuesday. The firm has a 50 day simple moving average of $75.88 and a 200-day simple moving average of $74.60. The stock has a market cap of $24.08 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.22 and a quick ratio of 1.22. Synchrony Financial has a 1-year low of $63.08 and a 1-year high of $88.77.

Analyst Upgrades and Downgrades

SYF has been the topic of several recent research reports. Wolfe Research boosted their target price on Synchrony Financial from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Wells Fargo & Company cut their price target on Synchrony Financial from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Morgan Stanley reduced their price objective on Synchrony Financial from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. UBS Group lowered their price objective on Synchrony Financial from $87.00 to $81.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Synchrony Financial from $78.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and an average price target of $87.25.

Synchrony Financial Company Profile

Synchrony Financial (NYSE: SYF) is a consumer financial services company that provides private-label credit cards, co-branded credit cards and promotional financing programs. Its financing products are offered through retailers, manufacturers, healthcare providers and other businesses, helping consumers pay for purchases over time.

The company serves a range of industries, including digital commerce, home improvement, furniture, automotive, healthcare, jewelry, apparel, electronics and specialty retail.