Synchrony Financial (NYSE:SYF) Receives $68.10 Average Price Target from Brokerages

Shares of Synchrony Financial (NYSE:SYF) have received an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $68.10.

SYF has been the topic of several research reports. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Compass Point lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research report on Tuesday, January 28th. The Goldman Sachs Group decreased their price objective on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd.

Synchrony Financial Stock Down 3.3 %

SYF opened at $52.39 on Monday. The business’s fifty day simple moving average is $61.17 and its 200 day simple moving average is $60.41. Synchrony Financial has a 52 week low of $39.67 and a 52 week high of $70.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The stock has a market cap of $20.37 billion, a PE ratio of 6.13, a P/E/G ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. As a group, research analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s dividend payout ratio is currently 11.71%.

Hedge Funds Weigh In On Synchrony Financial

A number of institutional investors have recently added to or reduced their stakes in SYF. California State Teachers Retirement System increased its stake in shares of Synchrony Financial by 3.1% in the 4th quarter. California State Teachers Retirement System now owns 542,243 shares of the financial services provider’s stock worth $35,246,000 after acquiring an additional 16,140 shares in the last quarter. 111 Capital purchased a new stake in Synchrony Financial in the fourth quarter worth about $1,271,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Synchrony Financial by 220.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 64,145 shares of the financial services provider’s stock valued at $4,169,000 after purchasing an additional 44,150 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $371,000. Finally, Centaurus Financial Inc. grew its stake in shares of Synchrony Financial by 3.4% in the 4th quarter. Centaurus Financial Inc. now owns 10,420 shares of the financial services provider’s stock worth $677,000 after buying an additional 342 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

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.