Synchrony Financial’s (SYF) Buy Rating Reiterated at BTIG Research
BTIG Research reiterated their buy rating on shares of Synchrony Financial (NYSE:SYF) in a research report released on Sunday morning. They currently have a $44.00 price objective on the financial services provider’s stock.
“Capital Return, Potential Tax Cut Boost = Upside We are reiterating our Buy recommendation on Synchrony Financial (SYF) while raising our price target to $44 from $36 based on 12x our FY19E earnings per share of $3.70. We believe SYF offers investors an attractive story featuring loan growth and capital return that position it to expand both EPS and ROE, and that the company’s enhanced partnership with PayPal (PYPL, Buy, $81 PT) offered the latest demonstration of its capabilities and capacity versus its card-issuing peers. We also view SYF as well positioned to benefit from the growth of eCommerce given its partnerships with PYPL, Amazon (AMZN, Not Rated) and others and its ability to extend its online and mobile capabilities to traditional retail partners.”,” the firm’s analyst commented.
A number of other equities research analysts have also recently weighed in on SYF. Wedbush set a $41.00 price objective on shares of Synchrony Financial and gave the company a hold rating in a research note on Monday, December 11th. Jefferies Group reaffirmed a buy rating and set a $40.00 target price on shares of Synchrony Financial in a report on Thursday, September 21st. BidaskClub raised Synchrony Financial from a sell rating to a hold rating in a report on Saturday, August 26th. Zacks Investment Research raised Synchrony Financial from a strong sell rating to a hold rating in a report on Monday, October 23rd. Finally, Oppenheimer reaffirmed a hold rating on shares of Synchrony Financial in a report on Tuesday, October 31st. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $38.30.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the business earned $0.73 earnings per share. research analysts predict that Synchrony Financial will post 2.59 EPS for the current year.
In related news, insider Jonathan S. Mothner sold 1,000 shares of Synchrony Financial stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $33.50, for a total value of $33,500.00. Following the transaction, the insider now owns 113,578 shares of the company’s stock, valued at approximately $3,804,863. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Mothner sold 1,500 shares of Synchrony Financial 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 completion of the transaction, the insider now directly owns 113,934 shares in the company, valued at approximately $3,739,313.88. The disclosure for this sale can be found here. Insiders sold a total of 6,961 shares of company stock worth $244,508 in the last three months. 0.03% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of SYF. Westside Investment Management Inc. grew its stake in Synchrony Financial by 32.1% during the 2nd quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 867 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Synchrony Financial by 9.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 486 shares in the last quarter. Highlander Capital Management LLC grew its stake in Synchrony Financial by 83.6% during the 2nd quarter. Highlander Capital Management LLC now owns 5,492 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 2,500 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in Synchrony Financial during the 3rd quarter valued at about $176,000. Finally, Sun Life Financial INC grew its stake in Synchrony Financial by 40,207.1% during the 2nd quarter. Sun Life Financial INC now owns 5,643 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 5,629 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.
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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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