Q3 2022 EPS Estimates for Synchrony Financial Increased by Analyst (NYSE:SYF)

Synchrony Financial (NYSE:SYFGet Rating) – Analysts at Jefferies Financial Group raised their Q3 2022 EPS estimates for shares of Synchrony Financial in a research note issued to investors on Monday, April 18th. Jefferies Financial Group analyst J. Hecht now expects that the financial services provider will earn $1.28 per share for the quarter, up from their previous forecast of $1.24. Jefferies Financial Group also issued estimates for Synchrony Financial’s Q4 2022 earnings at $1.23 EPS, Q1 2023 earnings at $1.75 EPS and Q4 2023 earnings at $1.07 EPS.

Synchrony Financial (NYSE:SYFGet Rating) last issued its earnings results on Monday, April 18th. The financial services provider reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.23. Synchrony Financial had a return on equity of 30.77% and a net margin of 27.27%. During the same period in the previous year, the company posted $1.73 earnings per share.

Several other equities analysts have also issued reports on the company. Stephens decreased their target price on Synchrony Financial from $54.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Barclays increased their price target on Synchrony Financial from $63.00 to $64.00 in a research report on Monday, January 10th. Wells Fargo & Company dropped their price objective on Synchrony Financial from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 6th. Wolfe Research downgraded Synchrony Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, March 17th. Finally, JPMorgan Chase & Co. dropped their price objective on Synchrony Financial from $55.00 to $51.00 in a report on Wednesday, January 19th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $52.53.

Shares of Synchrony Financial stock opened at $37.98 on Thursday. Synchrony Financial has a 52 week low of $33.76 and a 52 week high of $52.49. The business’s fifty day simple moving average is $38.23 and its 200-day simple moving average is $44.12. The firm has a market cap of $19.23 billion, a PE ratio of 5.18, a price-to-earnings-growth ratio of 0.29 and a beta of 1.60. The company has a quick ratio of 1.19, a current ratio of 1.25 and a debt-to-equity ratio of 1.12.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 12th. Shareholders of record on Monday, May 2nd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.32%. Synchrony Financial’s dividend payout ratio (DPR) is presently 12.01%.

Synchrony Financial declared that its board has approved a stock buyback plan on Monday, April 18th that authorizes the company to buyback $2.80 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 13.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

In other Synchrony Financial news, insider David P. Melito sold 9,351 shares of the business’s stock in a transaction dated Thursday, January 27th. The stock was sold at an average price of $46.05, for a total transaction of $430,613.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.44% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Kovitz Investment Group Partners LLC lifted its stake in shares of Synchrony Financial by 21.5% during the first quarter. Kovitz Investment Group Partners LLC now owns 53,563 shares of the financial services provider’s stock worth $1,865,000 after purchasing an additional 9,486 shares in the last quarter. Wright Investors Service Inc. lifted its stake in shares of Synchrony Financial by 2.1% in the first quarter. Wright Investors Service Inc. now owns 71,193 shares of the financial services provider’s stock worth $2,479,000 after acquiring an additional 1,466 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Synchrony Financial by 15.6% in the first quarter. Grove Bank & Trust now owns 9,099 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 1,230 shares in the last quarter. Alpha Cubed Investments LLC lifted its stake in shares of Synchrony Financial by 14.8% in the first quarter. Alpha Cubed Investments LLC now owns 6,207 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 800 shares in the last quarter. Finally, Empirical Finance LLC lifted its stake in shares of Synchrony Financial by 24.8% in the first quarter. Empirical Finance LLC now owns 10,697 shares of the financial services provider’s stock worth $372,000 after acquiring an additional 2,128 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

About Synchrony Financial (Get Rating)

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

Further Reading

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

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