Synchrony Financial (SYF) Lifted to “Buy” at BidaskClub
BidaskClub upgraded shares of Synchrony Financial (NYSE:SYF) from a hold rating to a buy rating in a research report released on Saturday.
Other equities research analysts have also issued research reports about the stock. BTIG Research reduced their price target on shares of Synchrony Financial from $42.00 to $36.00 and set a buy rating for the company in a research report on Monday, May 1st. Deutsche Bank AG reduced their price target on shares of Synchrony Financial from $47.00 to $35.00 and set a hold rating for the company in a research report on Monday, May 1st. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Synchrony Financial in a research report on Sunday, April 30th. Jefferies Group LLC reaffirmed a buy rating and set a $40.00 price target on shares of Synchrony Financial in a research report on Friday, June 9th. Finally, ValuEngine raised shares of Synchrony Financial from a hold rating to a buy rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Synchrony Financial has an average rating of Buy and an average price target of $37.71.
Synchrony Financial (NYSE SYF) traded down 0.48% during mid-day trading on Friday, reaching $29.33. 6,828,316 shares of the company were exchanged. The company has a market capitalization of $23.79 billion, a PE ratio of 11.19 and a beta of 1.02. The stock has a 50-day moving average price of $27.83 and a 200 day moving average price of $33.53. Synchrony Financial has a one year low of $23.25 and a one year high of $38.06.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, April 28th. The financial services provider reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.13. Synchrony Financial had a return on equity of 15.42% and a net margin of 14.21%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the firm posted $0.70 EPS. Analysts predict that Synchrony Financial will post $2.60 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 8th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, May 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.77%. Synchrony Financial’s dividend payout ratio is currently 19.85%.
In other news, Director Will W. Graylin bought 18,000 shares of the stock in a transaction dated Monday, May 1st. The stock was purchased at an average cost of $27.80 per share, for a total transaction of $500,400.00. Following the transaction, the director now owns 55,389 shares of the company’s stock, valued at $1,539,814.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David P. Melito sold 748 shares of the stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $34.24, for a total value of $25,611.52. Following the transaction, the insider now owns 43,390 shares of the company’s stock, valued at $1,485,673.60. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in SYF. Bayesian Capital Management LP bought a new stake in Synchrony Financial during the fourth quarter valued at $925,000. Dynamic Technology Lab Private Ltd bought a new stake in Synchrony Financial during the fourth quarter valued at $738,000. Asset Management One Co. Ltd. raised its stake in Synchrony Financial by 496.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,715,257 shares of the financial services provider’s stock valued at $62,192,000 after buying an additional 1,427,493 shares during the last quarter. Aviva PLC raised its stake in Synchrony Financial by 3.4% in the fourth quarter. Aviva PLC now owns 943,136 shares of the financial services provider’s stock valued at $34,217,000 after buying an additional 30,794 shares during the last quarter. Finally, Elkfork Partners LLC bought a new stake in Synchrony Financial during the fourth quarter valued at $848,000. Institutional investors own 89.07% of the company’s stock.
Synchrony Financial Company Profile
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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