Zacks Research Has Pessimistic View of SYF FY2024 Earnings

Synchrony Financial (NYSE:SYF) – Investment analysts at Zacks Research cut their FY2024 earnings per share estimates for Synchrony Financial in a research note issued on Tuesday, December 17th. Zacks Research analyst K. Dey now anticipates that the financial services provider will earn $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.

A number of other equities analysts have also issued reports on SYF. Compass Point upped their target price on Synchrony Financial from $60.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a report on Monday, October 14th. Barclays raised their price objective on shares of Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their target price on shares of Synchrony Financial from $64.00 to $72.50 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI lifted their price target on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.63.

Synchrony Financial Trading Up 1.8 %

NYSE SYF opened at $65.45 on Friday. The stock has a market cap of $25.48 billion, a P/E ratio of 8.54, a PEG ratio of 0.82 and a beta of 1.63. The company’s fifty day simple moving average is $62.61 and its 200-day simple moving average is $52.90. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 52 week low of $35.29 and a 52 week high of $69.39.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC lifted its stake in shares of Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 292 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Synchrony Financial during the 2nd quarter worth about $31,000. International Assets Investment Management LLC acquired a new position in shares of Synchrony Financial during the 2nd quarter valued at about $33,000. WR Wealth Planners LLC raised its stake in shares of Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Synchrony Financial in the 2nd quarter worth approximately $39,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given 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 1.53%. Synchrony Financial’s dividend payout ratio (DPR) is 13.05%.

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.