Zacks Research Has Negative Outlook for SYF FY2024 Earnings

Synchrony Financial (NYSE:SYF) – Analysts at Zacks Research dropped their FY2024 earnings per share estimates for shares of Synchrony Financial in a research note issued to investors on Tuesday, December 17th. Zacks Research analyst K. Dey now anticipates that the financial services provider will post earnings of $6.48 per share for the year, down from their previous estimate of $6.49. The consensus estimate for Synchrony Financial’s current full-year earnings is $6.51 per share. Zacks Research also issued estimates for Synchrony Financial’s Q4 2024 earnings at $1.81 EPS, Q3 2025 earnings at $1.69 EPS and FY2025 earnings at $6.05 EPS.

Other analysts also recently issued reports about the company. Evercore ISI boosted their price target on Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a research report on Thursday, October 17th. BTIG Research cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $59.00 to $72.00 in a research report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.63.

Synchrony Financial Stock Up 1.1 %

Synchrony Financial stock opened at $64.27 on Friday. The stock has a market cap of $25.02 billion, a P/E ratio of 8.39, a P/E/G ratio of 0.82 and a beta of 1.63. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a twelve month low of $35.29 and a twelve month high of $69.39. The company’s 50-day moving average price is $62.37 and its two-hundred day moving average price is $52.75.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the firm posted $1.48 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $0.25 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. Synchrony Financial’s payout ratio is currently 13.05%.

Insider Activity at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares of the company’s stock, valued at $8,291,879.13. This represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the transaction, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYF. Graypoint LLC grew its stake in shares of Synchrony Financial by 4.0% in the third quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 181 shares during the last quarter. Empirical Finance LLC lifted its holdings in Synchrony Financial by 1.3% during the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock worth $773,000 after buying an additional 204 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Synchrony Financial by 1.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock valued at $997,000 after buying an additional 227 shares during the last quarter. Wedmont Private Capital grew its position in shares of Synchrony Financial by 3.3% in the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock valued at $387,000 after buying an additional 242 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Synchrony Financial by 0.5% in the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock valued at $2,465,000 after buying an additional 251 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Company Profile

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.