Synchrony Financial (NYSE:SYF) Stock Rating Lowered by Evercore

Synchrony Financial (NYSE:SYF) was downgraded by stock analysts at Evercore from an “outperform” rating to an “inline” rating in a research note issued to investors on Wednesday, Briefing.com reports. They presently have a $78.00 target price on the financial services provider’s stock. Evercore’s price target points to a potential upside of 6.21% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Synchrony Financial from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Royal Bank Of Canada restated a “sector perform” rating on shares of Synchrony Financial in a research report on Tuesday. Weiss Ratings raised shares of Synchrony Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. HSBC lifted their target price on shares of Synchrony Financial from $93.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $103.00 target price on shares of Synchrony Financial in a research note on Tuesday. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.61.

Synchrony Financial Trading Down 1.1%

Shares of NYSE:SYF opened at $73.44 on Wednesday. The company has a market capitalization of $23.90 billion, a PE ratio of 7.52, a P/E/G ratio of 0.86 and a beta of 1.35. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.08. Synchrony Financial has a 12-month low of $63.08 and a 12-month high of $88.77. The business’s fifty day simple moving average is $75.78 and its 200-day simple moving average is $74.63.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, October 20th. The financial services provider reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.26. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Synchrony Financial had a net margin of 15.44% and a return on equity of 23.09%. During the same period last year, the business earned $2.86 EPS. As a group, equities research analysts predict that Synchrony Financial will post 9.40 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Synchrony Financial

Institutional investors have recently added to or reduced their stakes in the business. Pension & Wealth Management Advisors Inc. bought a new position in shares of Synchrony Financial during the third quarter valued at approximately $26,000. Compass Financial Management LLC bought a new position in Synchrony Financial in the second quarter worth approximately $29,000. GK Wealth Management LLC bought a new position in Synchrony Financial in the third quarter worth approximately $31,000. Center for Financial Planning Inc. lifted its holdings in Synchrony Financial by 242.9% during the first quarter. Center for Financial Planning Inc. now owns 480 shares of the financial services provider’s stock worth $33,000 after buying an additional 340 shares during the period. Finally, Fiduciary Financial Advisors purchased a new stake in Synchrony Financial during the second quarter worth $33,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Key Synchrony Financial News

Here are the key news stories impacting Synchrony Financial this week:

• Positive Sentiment: Synchrony reported third-quarter adjusted earnings of $2.68 per share, above the approximately $2.42–$2.48 consensus range. Revenue of $3.82 billion was also slightly ahead of expectations. Synchrony Q3 Earnings Top Estimates
• Positive Sentiment: Purchase volume increased 8% year over year to roughly $49.7 billion, led by growth in Diversified & Value and Home & Auto spending. Management expects full-year diluted earnings of approximately $9.50 per share, toward the top end of its prior outlook. Synchrony: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Credit quality improved: net charge-offs fell to about 4.79%, while 30-day and 90-day delinquency rates declined. The results ease concerns about a broad deterioration in consumer credit. Synchrony Financial Stock Information
• Positive Sentiment: The company declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually, and continued returning capital through share repurchases.
• Neutral Sentiment: Despite the earnings beat, third-quarter profit declined to $892 million, or $2.68 per share, from $1.1 billion, or $2.86 per share, a year earlier. Synchrony Financial Profit Falls on Higher Costs but Credit Trends Improve
• Negative Sentiment: Higher operating costs and investments pressured results, while net interest margin narrowed as healthier payment behavior reduced late-fee income. A high customer payment rate may also limit near-term loan-balance growth.

Synchrony Financial Company Profile

Synchrony Financial (NYSE: SYF) is a consumer financial services company that provides private-label credit cards, co-branded credit cards and promotional financing programs. Its financing products are offered through retailers, manufacturers, healthcare providers and other businesses, helping consumers pay for purchases over time.

The company serves a range of industries, including digital commerce, home improvement, furniture, automotive, healthcare, jewelry, apparel, electronics and specialty retail.