Synchrony Financial (NYSE:SYF) Issues Earnings Results, Beats Estimates By $0.17 EPS

Synchrony Financial (NYSE:SYF) announced its earnings results on Wednesday. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17, Briefing.com reports. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. Synchrony Financial’s revenue was up 9.8% compared to the same quarter last year. Synchrony Financial updated its FY 2024 guidance to 8.450-8.550 EPS.

Synchrony Financial Price Performance

NYSE SYF traded down $0.34 during trading hours on Friday, reaching $56.36. 2,099,767 shares of the company’s stock were exchanged, compared to its average volume of 3,958,651. The firm has a fifty day moving average of $49.23 and a 200-day moving average of $46.50. 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 one year low of $27.30 and a one year high of $57.26. The stock has a market cap of $22.28 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. Synchrony Financial’s payout ratio is presently 13.89%.

Analyst Upgrades and Downgrades

SYF has been the subject of several recent research reports. TD Cowen lifted their price target on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada upped their price objective on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research note on Thursday. Jefferies Financial Group raised their price target on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley boosted their price target on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Compass Point raised their price objective on shares of Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.95.

Insider Buying and Selling at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction dated 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 owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now directly 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 document filed with the SEC, which is available through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of 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 position. The disclosure for this sale can be found here. Corporate 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.