Synchrony Financial (SYF) to Release Quarterly Earnings on Wednesday

Synchrony Financial (NYSE:SYF) is set to release its earnings data before the market opens on Wednesday, October 16th. Analysts expect Synchrony Financial to post earnings of $1.80 per share for the quarter. Synchrony Financial has set its FY 2024 guidance at 7.600-7.800 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter last year, the company earned $1.32 EPS. On average, analysts expect Synchrony Financial to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Synchrony Financial Price Performance

Shares of SYF opened at $51.19 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. The firm’s fifty day simple moving average is $48.14 and its 200-day simple moving average is $45.92. The firm has a market capitalization of $20.56 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 1.16 and a beta of 1.61. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $52.67.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 1.95%. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Insider Buying and Selling

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 stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now owns 49,390 shares of the company’s stock, valued at $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 available at this link. 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 shares were 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 of the company’s stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYF. JMP Securities upped their target price on shares of Synchrony Financial from $49.00 to $60.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. BTIG Research cut Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $62.00 target price on shares of Synchrony Financial in a research note on Tuesday, June 11th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised their target price on shares of Synchrony Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and an average price target of $51.43.

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.