Wall Street brokerages expect Synchrony Financial (NYSE:SYF) to announce $3.58 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Synchrony Financial’s earnings, with estimates ranging from $3.49 billion to $3.67 billion. Synchrony Financial reported sales of $3.46 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.5%. The business is scheduled to report its next earnings results on Tuesday, October 19th.
On average, analysts expect that Synchrony Financial will report full-year sales of $14.10 billion for the current financial year, with estimates ranging from $13.93 billion to $14.32 billion. For the next fiscal year, analysts expect that the firm will report sales of $15.28 billion, with estimates ranging from $14.64 billion to $15.89 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Synchrony Financial.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Monday, July 19th. The financial services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.65. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $2.60 billion. Synchrony Financial had a net margin of 21.76% and a return on equity of 27.59%. During the same period in the previous year, the business posted $0.06 earnings per share.
In other news, insider Carol Juel sold 8,708 shares of the stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $49.63, for a total value of $432,178.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.45% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Sunflower Bank N.A. purchased a new position in shares of Synchrony Financial in the 2nd quarter worth approximately $294,000. Parametric Portfolio Associates LLC boosted its stake in Synchrony Financial by 65.7% in the second quarter. Parametric Portfolio Associates LLC now owns 3,164,311 shares of the financial services provider’s stock valued at $153,532,000 after acquiring an additional 1,255,150 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG grew its holdings in Synchrony Financial by 295.2% in the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 118,278 shares of the financial services provider’s stock worth $5,739,000 after purchasing an additional 88,350 shares during the last quarter. MARSHALL WACE ASIA Ltd increased its position in shares of Synchrony Financial by 4.3% during the second quarter. MARSHALL WACE ASIA Ltd now owns 4,453,161 shares of the financial services provider’s stock worth $216,067,000 after purchasing an additional 184,390 shares in the last quarter. Finally, Mariner LLC lifted its holdings in shares of Synchrony Financial by 1.8% during the 2nd quarter. Mariner LLC now owns 24,271 shares of the financial services provider’s stock valued at $1,178,000 after purchasing an additional 434 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.
Shares of NYSE SYF traded up $0.81 on Friday, reaching $48.49. 82,798 shares of the company’s stock traded hands, compared to its average volume of 5,903,833. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.00. The business’s 50 day simple moving average is $48.42 and its two-hundred day simple moving average is $45.89. Synchrony Financial has a 12 month low of $24.20 and a 12 month high of $52.14. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 0.38 and a beta of 1.80.
Synchrony Financial declared that its board has authorized a share repurchase plan on Tuesday, May 25th that allows the company to repurchase $2.90 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 12th. Investors of record on Monday, August 2nd were issued a $0.22 dividend. The ex-dividend date was Friday, July 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.81%. Synchrony Financial’s dividend payout ratio is currently 33.85%.
Synchrony Financial Company Profile
Synchrony Financial engages in the provision of consumer financial services. It operates through three sales platforms: Retail Card, Payment Solutions, and CareCredit. The Retail Card platform is a provider of private label credit cards, and also provides Dual Cards and small-and medium-sized business credit products.
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