Synchrony Financial (NYSE:SYF) Announces Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Synchrony Financial (NYSE:SYF) announced its quarterly earnings data on Wednesday. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.77 by $0.17, Briefing.com reports. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the firm posted $1.48 EPS. Synchrony Financial’s revenue for the quarter was up 9.8% on a year-over-year basis. Synchrony Financial updated its FY 2024 guidance to 8.450-8.550 EPS.

Synchrony Financial Price Performance

NYSE SYF opened at $56.53 on Thursday. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $56.59. The stock has a market cap of $22.34 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.26 and a beta of 1.61. The company’s 50 day moving average is $49.02 and its two-hundred day moving average is $46.43. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s payout ratio is 13.89%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bart Schaller sold 930 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the sale, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

SYF has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Compass Point upped their target price on shares of Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada upped their target price on shares of Synchrony Financial from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 18th. Finally, BMO Capital Markets lowered their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

About Synchrony Financial

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.