BTIG Research Analysts Give Synchrony Financial (SYF) a $42.00 Price Target
Synchrony Financial (NYSE:SYF) has been given a $42.00 target price by equities research analysts at BTIG Research in a research note issued on Wednesday. The brokerage currently has a a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 59.27% from the company’s previous close.
SYF has been the topic of a number of other research reports. Citigroup Inc. reiterated a “buy” rating and set a $31.00 target price (down previously from $38.00) on shares of Synchrony Financial in a report on Wednesday, June 15th. Wedbush started coverage on Synchrony Financial in a research note on Monday. They set an “outperform” rating and a $31.00 price target on the stock. DA Davidson reissued a “buy” rating and set a $37.00 price target on shares of Synchrony Financial in a research note on Friday, June 17th. Nomura reissued a “buy” rating on shares of Synchrony Financial in a research note on Saturday, July 9th. Finally, Bank of America Corp. reissued a “neutral” rating and set a $30.00 price target (up previously from $28.00) on shares of Synchrony Financial in a research note on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $39.87.
Shares of Synchrony Financial (NYSE:SYF) traded down 0.53% during midday trading on Wednesday, hitting $26.37. The stock had a trading volume of 5,589,248 shares. The stock has a market cap of $21.99 billion, a P/E ratio of 10.06 and a beta of 0.92. The stock has a 50-day moving average price of $27.23 and a 200-day moving average price of $28.21. Synchrony Financial has a 12-month low of $23.25 and a 12-month high of $34.60.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, July 22nd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Synchrony Financial had a return on equity of 16.97% and a net margin of 15.63%. During the same quarter in the previous year, the firm posted $0.65 EPS. Equities analysts forecast that Synchrony Financial will post $2.63 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Synchrony Financial by 1.7% in the second quarter. Vanguard Group Inc. now owns 49,269,728 shares of the company’s stock valued at $1,245,539,000 after buying an additional 816,276 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of Synchrony Financial by 13.6% in the second quarter. Janus Capital Management LLC now owns 27,841,462 shares of the company’s stock valued at $703,816,000 after buying an additional 3,336,585 shares in the last quarter. Bank of New York Mellon Corp increased its position in Synchrony Financial by 14.1% in the second quarter. Bank of New York Mellon Corp now owns 21,921,122 shares of the company’s stock worth $554,167,000 after buying an additional 2,706,823 shares during the period. First Eagle Investment Management LLC increased its position in Synchrony Financial by 39.9% in the second quarter. First Eagle Investment Management LLC now owns 16,251,075 shares of the company’s stock worth $410,827,000 after buying an additional 4,635,480 shares during the period. Finally, BlackRock Fund Advisors increased its position in Synchrony Financial by 3.4% in the second quarter. BlackRock Fund Advisors now owns 12,987,002 shares of the company’s stock worth $328,311,000 after buying an additional 424,678 shares during the period. Institutional investors own 88.05% of the company’s stock.
About Synchrony Financial
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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