Synchrony Financial (SYF) PT Set at $55.00 by Barclays
Synchrony Financial (NYSE:SYF) has been assigned a $55.00 target price by equities researchers at Barclays in a report released on Thursday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Barclays’ target price suggests a potential upside of 38.33% from the stock’s current price.
Several other brokerages have also recently weighed in on SYF. Jefferies Group boosted their price target on shares of Synchrony Financial to $44.00 and gave the stock a “top pick” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods restated a “buy” rating and issued a $39.00 price target on shares of Synchrony Financial in a research report on Thursday, October 12th. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Wedbush set a $41.00 price target on shares of Synchrony Financial and gave the stock a “hold” rating in a research report on Monday, December 11th. Finally, Wells Fargo & Co started coverage on shares of Synchrony Financial in a research report on Tuesday, October 10th. They issued a “market perform” rating and a $33.00 price target on the stock. Ten analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Synchrony Financial presently has a consensus rating of “Buy” and a consensus price target of $38.40.
Shares of Synchrony Financial (NYSE SYF) traded up $0.10 on Thursday, reaching $39.76. 6,144,200 shares of the company traded hands, compared to its average volume of 5,163,950. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $40.17. The company has a market capitalization of $31,120.00, a PE ratio of 15.12, a PEG ratio of 1.62 and a beta of 1.06. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.47 and a quick ratio of 1.47.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. analysts anticipate that Synchrony Financial will post 2.57 earnings per share for the current year.
In other news, Director Olympia J. Snowe acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was purchased at an average cost of $33.40 per share, for a total transaction of $100,200.00. Following the completion of the acquisition, the director now directly owns 10,608 shares of the company’s stock, valued at approximately $354,307.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Mothner sold 1,000 shares of Synchrony Financial stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $33.50, for a total value of $33,500.00. Following the completion of the sale, the insider now owns 113,578 shares of the company’s stock, valued at $3,804,863. The disclosure for this sale can be found here. Insiders have sold 6,961 shares of company stock valued at $244,508 over the last three months. Insiders own 0.03% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. bought a new stake in shares of Synchrony Financial in the second quarter valued at about $520,747,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Synchrony Financial by 13.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 466,387 shares of the financial services provider’s stock valued at $14,481,000 after acquiring an additional 56,959 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Synchrony Financial by 1,820.5% in the second quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock valued at $326,070,000 after acquiring an additional 10,365,219 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Synchrony Financial by 1.6% in the third quarter. Great West Life Assurance Co. Can now owns 610,025 shares of the financial services provider’s stock valued at $18,999,000 after acquiring an additional 9,518 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Synchrony Financial by 531.9% in the third quarter. Stifel Financial Corp now owns 577,096 shares of the financial services provider’s stock valued at $17,910,000 after acquiring an additional 485,775 shares in the last quarter. Hedge funds and other institutional investors own 85.46% of the company’s stock.
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Synchrony Financial Company Profile
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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