Q2 2024 Earnings Estimate for Synchrony Financial (NYSE:SYF) Issued By Seaport Res Ptn

Synchrony Financial (NYSE:SYF) – Research analysts at Seaport Res Ptn raised their Q2 2024 earnings estimates for shares of Synchrony Financial in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst W. Ryan now forecasts that the financial services provider will post earnings per share of $1.51 for the quarter, up from their prior forecast of $1.49. The consensus estimate for Synchrony Financial’s current full-year earnings is $5.57 per share. Seaport Res Ptn also issued estimates for Synchrony Financial’s Q3 2024 earnings at $1.88 EPS and FY2025 earnings at $4.45 EPS.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the firm posted $1.35 EPS.

Several other brokerages have also recently issued reports on SYF. Evercore ISI boosted their price target on shares of Synchrony Financial from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. JMP Securities boosted their price objective on shares of Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Friday, January 12th. Finally, Morgan Stanley reissued an “underweight” rating and set a $30.00 price objective on shares of Synchrony Financial in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Synchrony Financial presently has a consensus rating of “Hold” and a consensus target price of $42.72.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $44.66 on Friday. Synchrony Financial has a 1 year low of $26.59 and a 1 year high of $45.33. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.22. The company’s 50-day moving average is $41.56 and its 200 day moving average is $36.76. The stock has a market capitalization of $18.17 billion, a P/E ratio of 6.41, a P/E/G ratio of 1.11 and a beta of 1.61.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.24%. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

Synchrony Financial declared that its board has approved a stock buyback program on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the transaction, the insider now owns 152,604 shares in the company, valued at $6,534,503.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the transaction, the insider now owns 14,183 shares in the company, valued at $552,995.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the sale, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. Insiders sold a total of 148,158 shares of company stock valued at $6,106,106 over the last three months. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Several institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in shares of Synchrony Financial by 0.7% in the 1st quarter. Fifth Third Bancorp now owns 38,247 shares of the financial services provider’s stock worth $1,649,000 after acquiring an additional 250 shares during the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of Synchrony Financial by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after acquiring an additional 262 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Synchrony Financial by 0.8% in the 4th quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock worth $1,329,000 after acquiring an additional 268 shares during the last quarter. MV Capital Management Inc. increased its stake in Synchrony Financial by 8.3% in the 1st quarter. MV Capital Management Inc. now owns 3,509 shares of the financial services provider’s stock worth $151,000 after buying an additional 270 shares during the period. Finally, Assetmark Inc. increased its stake in Synchrony Financial by 4.3% in the 4th quarter. Assetmark Inc. now owns 6,933 shares of the financial services provider’s stock worth $265,000 after buying an additional 288 shares during the period. Institutional investors own 96.48% of the company’s stock.

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.