Vetr Inc. Downgrades Synchrony Financial (SYF) to Buy
Synchrony Financial (NYSE:SYF) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They currently have a $35.70 price objective on the stock. Vetr‘s price target points to a potential upside of 7.08% from the company’s previous close.
A number of other analysts have also recently weighed in on SYF. Zacks Investment Research cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Compass Point began coverage on shares of Synchrony Financial in a research note on Friday, November 4th. They issued a “buy” rating and a $34.00 target price on the stock. Nomura reissued a “buy” rating and issued a $34.00 target price on shares of Synchrony Financial in a research note on Thursday, September 22nd. BTIG Research set a $42.00 target price on shares of Synchrony Financial and gave the company a “buy” rating in a research note on Wednesday, October 12th. Finally, Wedbush began coverage on shares of Synchrony Financial in a research note on Monday, October 10th. They issued an “outperform” rating and a $31.00 target price on the stock. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $39.59.
Synchrony Financial (NYSE:SYF) opened at 33.34 on Monday. The company’s 50 day moving average is $28.36 and its 200-day moving average is $28.14. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $33.63. The firm has a market cap of $27.52 billion, a price-to-earnings ratio of 12.53 and a beta of 0.89.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.04. Synchrony Financial had a net margin of 15.40% and a return on equity of 16.61%. During the same quarter in the prior year, the business posted $0.69 EPS. On average, analysts predict that Synchrony Financial will post $2.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Monday, November 7th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 3rd. Synchrony Financial’s dividend payout ratio (DPR) is 19.55%.
In related news, insider Margaret M. Keane sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the sale, the insider now directly owns 361,206 shares of the company’s stock, valued at $10,836,180. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.02% of the company’s stock.
Large investors have recently modified their holdings of the stock. NEXT Financial Group Inc increased its stake in shares of Synchrony Financial by 2.6% in the third quarter. NEXT Financial Group Inc now owns 4,019 shares of the company’s stock valued at $113,000 after buying an additional 103 shares during the last quarter. D Orazio & Associates Inc. increased its stake in shares of Synchrony Financial by 75.0% in the second quarter. D Orazio & Associates Inc. now owns 4,200 shares of the company’s stock valued at $106,000 after buying an additional 1,800 shares during the last quarter. Commonwealth Bank of Australia increased its stake in shares of Synchrony Financial by 50.2% in the third quarter. Commonwealth Bank of Australia now owns 4,562 shares of the company’s stock valued at $128,000 after buying an additional 1,525 shares during the last quarter. Societe Generale purchased a new stake in shares of Synchrony Financial during the second quarter valued at approximately $118,000. Finally, Daiwa SB Investments Ltd. increased its stake in shares of Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock valued at $130,000 after buying an additional 410 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.
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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