Synchrony Financial (NYSE:SYF) Issues FY 2024 Earnings Guidance

Synchrony Financial (NYSE:SYF) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 8.450-8.550 for the period, compared to the consensus EPS estimate of 7.710. The company issued revenue guidance of -.

Synchrony Financial Stock Up 0.3 %

Shares of NYSE SYF opened at $56.70 on Friday. The company has a market cap of $22.41 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 1.26 and a beta of 1.61. 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 has a 12 month low of $27.30 and a 12 month high of $57.26. The stock has a 50-day moving average price of $49.23 and a two-hundred day moving average price of $46.50.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the company earned $1.48 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts forecast that Synchrony Financial will post 5.81 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s payout ratio is 13.89%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Baird R W raised Synchrony Financial to a “strong-buy” rating in a report on Friday, June 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of Synchrony Financial in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen boosted their target price on shares of Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday. Finally, StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.95.

Insiders Place Their Bets

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

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.