Synchrony Financial (NYSE:SYF) Issues Earnings Results

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

Synchrony Financial Stock Performance

NYSE SYF traded down $0.77 on Friday, hitting $55.93. 1,416,845 shares of the company’s stock were exchanged, compared to its average volume of 3,955,270. The firm has a market cap of $22.11 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 1.26 and a beta of 1.61. The firm’s 50-day moving average price is $49.23 and its two-hundred day moving average price is $46.50. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $57.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s dividend payout ratio is presently 13.89%.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction 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 completion of the transaction, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Synchrony Financial 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 value of $47,281.20. Following the transaction, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. 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 link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the sale, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The trade was 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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SYF shares. Compass Point boosted their target price on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a research note on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Robert W. Baird assumed coverage on shares of Synchrony Financial in a report on Friday, June 28th. They issued an “outperform” rating and a $56.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.95.

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.