Analysts predict that Synchrony Financial (NYSE:SYF) will post sales of $4.19 billion for the current quarter, according to Zacks. Four analysts have issued estimates for Synchrony Financial’s earnings, with estimates ranging from $4.13 billion to $4.24 billion. Synchrony Financial reported sales of $3.74 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 12%. The company is expected to announce its next earnings results before the market opens on Friday, July 19th.
According to Zacks, analysts expect that Synchrony Financial will report full-year sales of $16.86 billion for the current year, with estimates ranging from $16.67 billion to $16.98 billion. For the next fiscal year, analysts anticipate that the company will report sales of $16.58 billion, with estimates ranging from $16.03 billion to $17.04 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Synchrony Financial.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.12. Synchrony Financial had a return on equity of 19.79% and a net margin of 17.52%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the business earned $0.83 EPS.
Several brokerages have recently commented on SYF. Royal Bank of Canada set a $60.00 target price on Masonite International and gave the company a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research raised shares of Jack Henry & Associates from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Morgan Stanley downgraded shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research note on Monday, April 22nd. Nomura boosted their price target on shares of Synchrony Financial from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, ValuEngine downgraded shares of Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Synchrony Financial presently has a consensus rating of “Buy” and an average target price of $37.47.
Shares of Synchrony Financial stock traded up $0.32 during trading on Friday, hitting $35.96. The stock had a trading volume of 4,000,625 shares, compared to its average volume of 6,321,961. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.27 and a current ratio of 1.39. The stock has a market capitalization of $24.48 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.09 and a beta of 1.18. The firm’s fifty day simple moving average is $34.48. Synchrony Financial has a fifty-two week low of $21.77 and a fifty-two week high of $36.12.
In other Synchrony Financial news, insider David P. Melito sold 3,204 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $36.00, for a total value of $115,344.00. Following the completion of the sale, the insider now owns 23,567 shares of the company’s stock, valued at $848,412. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David P. Melito sold 6,014 shares of Synchrony Financial stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $34.25, for a total value of $205,979.50. Following the transaction, the insider now directly owns 29,476 shares of the company’s stock, valued at approximately $1,009,553. The disclosure for this sale can be found here. In the last three months, insiders sold 137,422 shares of company stock valued at $4,657,760. 0.32% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Boston Advisors LLC lifted its holdings in shares of Synchrony Financial by 2.4% in the first quarter. Boston Advisors LLC now owns 13,954 shares of the financial services provider’s stock valued at $445,000 after buying an additional 325 shares during the period. JOYN Advisors Inc. grew its position in Synchrony Financial by 33.7% during the fourth quarter. JOYN Advisors Inc. now owns 1,349 shares of the financial services provider’s stock worth $32,000 after buying an additional 340 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Synchrony Financial by 0.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 132,539 shares of the financial services provider’s stock worth $3,110,000 after buying an additional 388 shares in the last quarter. Global Retirement Partners LLC grew its position in Synchrony Financial by 21.4% during the first quarter. Global Retirement Partners LLC now owns 2,967 shares of the financial services provider’s stock worth $95,000 after buying an additional 524 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Synchrony Financial by 40.3% during the first quarter. Parkside Financial Bank & Trust now owns 2,016 shares of the financial services provider’s stock worth $64,000 after buying an additional 579 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.
About Synchrony Financial
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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