Synchrony Financial (SYF) Rating Reiterated by Barclays PLC
Synchrony Financial (NYSE:SYF)‘s stock had its “buy” rating reaffirmed by equities researchers at Barclays PLC in a research note issued on Tuesday. They currently have a $43.00 target price on the financial services provider’s stock. Barclays PLC’s price target suggests a potential upside of 27.71% from the company’s previous close.
Several other brokerages have also recently weighed in on SYF. BidaskClub cut Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. JMP Securities boosted their price objective on Synchrony Financial from $35.00 to $37.00 and gave the stock a “market outperform” rating in a research note on Monday, October 23rd. Morgan Stanley reissued an “overweight” rating and set a $35.00 price objective (up from $33.00) on shares of Synchrony Financial in a research note on Tuesday, July 25th. Zacks Investment Research raised Synchrony Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, October 23rd. Finally, Wells Fargo & Company upped their target price on Synchrony Financial from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $36.93.
Synchrony Financial (SYF) opened at $33.67 on Tuesday. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06. The company has a market capitalization of $26,350.00, a PE ratio of 12.92, a PEG ratio of 1.70 and a beta of 1.02. 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 data on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the business earned $0.73 earnings per share. sell-side analysts predict that Synchrony Financial will post 2.59 EPS for the current fiscal year.
In related news, Director Laurel Richie purchased 1,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $34.20 per share, with a total value of $34,200.00. Following the transaction, the director now owns 8,608 shares of the company’s stock, valued at $294,393.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Mothner sold 1,500 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $32.82, for a total value of $49,230.00. Following the sale, the insider now directly owns 113,934 shares in the company, valued at $3,739,313.88. The disclosure for this sale can be found here. 0.03% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of SYF. Berkshire Hathaway Inc. acquired a new stake in shares of Synchrony Financial during the 2nd quarter valued at about $520,747,000. Janus Henderson Group PLC grew its position in shares of Synchrony Financial by 1,820.5% during the 2nd 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 during the period. FMR LLC grew its position in shares of Synchrony Financial by 27.1% during the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after acquiring an additional 7,874,689 shares during the period. Capital World Investors acquired a new stake in shares of Synchrony Financial during the 2nd quarter valued at about $202,269,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Synchrony Financial by 2,777.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,109,742 shares of the financial services provider’s stock valued at $128,144,000 after acquiring an additional 3,966,900 shares during the period. Hedge funds and other institutional investors own 87.23% of the company’s stock.
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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