Brokers Set Expectations for Synchrony Financial’s Q3 2016 Earnings (SYF)
Synchrony Financial (NYSE:SYF) – Investment analysts at DA Davidson cut their Q3 2016 earnings estimates for shares of Synchrony Financial in a research report issued on Thursday. DA Davidson analyst A. Cyganovich now forecasts that the brokerage will post earnings per share of $0.67 for the quarter, down from their previous forecast of $0.70. DA Davidson also issued estimates for Synchrony Financial’s FY2018 earnings at $3.40 EPS.
Several other analysts also recently commented on the company. BMO Capital Markets reaffirmed a “buy” rating and set a $108.00 price objective on shares of Synchrony Financial in a research note on Tuesday, July 5th. Jefferies Group restated a “buy” rating and issued a $35.00 price target on shares of Synchrony Financial in a report on Wednesday, June 29th. Deutsche Bank AG restated a “buy” rating and issued a $31.50 price target on shares of Synchrony Financial in a report on Thursday, August 18th. BTIG Research started coverage on Synchrony Financial in a report on Sunday, July 10th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Zacks Investment Research cut Synchrony Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.87.
Synchrony Financial (NYSE:SYF) opened at 26.42 on Monday. The stock has a 50 day moving average price of $27.21 and a 200 day moving average price of $28.18. Synchrony Financial has a 52-week low of $23.25 and a 52-week high of $34.60. The stock has a market cap of $22.03 billion, a P/E ratio of 10.08 and a beta of 0.92.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, July 22nd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $0.65 EPS.
Institutional investors have recently bought and sold shares of the company. D Orazio & Associates Inc. increased its position in Synchrony Financial by 75.0% in the second quarter. D Orazio & Associates Inc. now owns 4,200 shares of the company’s stock worth $106,000 after buying an additional 1,800 shares during the period. Societe Generale purchased a new position in Synchrony Financial during the second quarter worth approximately $118,000. Daiwa SB Investments Ltd. increased its position in Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock worth $130,000 after buying an additional 410 shares during the period. Euclid Advisors LLC purchased a new position in Synchrony Financial during the second quarter worth approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Synchrony Financial by 58.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,688 shares of the company’s stock worth $144,000 after buying an additional 2,090 shares during the period. Institutional investors and hedge funds own 87.94% 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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