Brokerages Anticipate Synchrony Financial (NYSE:SYF) Will Announce Quarterly Sales of $3.58 Billion

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.

SYF has been the topic of several analyst reports. Credit Suisse Group boosted their target price on Synchrony Financial from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, September 10th. Seaport Res Ptn reiterated a “buy” rating on shares of Synchrony Financial in a research note on Monday, August 30th. started coverage on Synchrony Financial in a research note on Friday, July 9th. They issued a “neutral” rating and a $51.00 price target for the company. Barclays increased their price objective on Synchrony Financial from $52.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, July 9th. Finally, The Goldman Sachs Group lifted their price target on shares of Synchrony Financial from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Synchrony Financial has an average rating of “Buy” and an average target price of $54.19.

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.

Recommended Story: What is the accumulation/distribution indicator?

Get a free copy of the Zacks research report on Synchrony Financial (SYF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Synchrony Financial (NYSE:SYF)

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.