Synchrony Financial (SYF) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “Synchrony Financial is a consumer financial services company. It offers private label credit cards, dual cards and small and medium-sized business credit products; promotional financing for consumer purchases, including installment loans; and promotional financing to consumers. The company also offers various deposit products, such as certificates of deposit, individual retirement accounts, money market accounts, and savings accounts directly to retail and commercial customers under the Optimizer+Plus brand. Synchrony Financial is headquartered in Stamford, Connecticut. “
A number of other research firms have also issued reports on SYF. Deutsche Bank AG reiterated a buy rating on shares of Synchrony Financial in a report on Tuesday, June 7th. Vetr upgraded shares of Synchrony Financial from a buy rating to a strong-buy rating and set a $35.02 target price on the stock in a report on Monday, June 6th. BTIG Research reiterated a positive rating and set a $42.00 target price on shares of Synchrony Financial in a report on Tuesday, June 14th. Barclays PLC reiterated an overweight rating and set a $41.00 target price on shares of Synchrony Financial in a report on Friday, July 15th. Finally, Bank of America Corp. reiterated a neutral rating and set a $30.00 target price (up from $28.00) on shares of Synchrony Financial in a report on Tuesday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $40.36.
Shares of Synchrony Financial (NYSE:SYF) traded down 0.11% during midday trading on Wednesday, hitting $27.79. 458,663 shares of the stock were exchanged. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $34.60. The stock has a 50 day moving average price of $27.34 and a 200-day moving average price of $28.30. The company has a market cap of $23.17 billion, a PE ratio of 10.61 and a beta of 0.92.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. Synchrony Financial had a net margin of 15.63% and a return on equity of 16.97%. During the same quarter in the previous year, the company posted $0.65 earnings per share. On average, analysts predict that Synchrony Financial will post $2.63 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the company. Albert D Mason Inc. increased its stake in Synchrony Financial by 2.2% in the second quarter. Albert D Mason Inc. now owns 38,564 shares of the company’s stock valued at $975,000 after buying an additional 844 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in Synchrony Financial by 16.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 9,440 shares of the company’s stock valued at $239,000 after buying an additional 1,335 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in Synchrony Financial during the second quarter valued at about $3,792,000. Heritage Investors Management Corp increased its stake in Synchrony Financial by 14.0% in the second quarter. Heritage Investors Management Corp now owns 434,790 shares of the company’s stock valued at $10,991,000 after buying an additional 53,371 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in Synchrony Financial by 3.1% in the second quarter. Capstone Asset Management Co. now owns 61,535 shares of the company’s stock valued at $1,556,000 after buying an additional 1,851 shares in the last quarter. Institutional investors own 88.05% of the company’s stock.
Synchrony Financial Company Profile
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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