Synchrony Financial (SYF) Rating Reiterated by BMO Capital Markets
Synchrony Financial (NYSE:SYF)‘s stock had its “buy” rating reaffirmed by equities research analysts at BMO Capital Markets in a note issued to investors on Friday. They presently have a $40.00 target price on the financial services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 30.98% from the stock’s current price.
Other analysts also recently issued research reports about the company. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Sunday, April 30th. Deutsche Bank AG cut their target price on Synchrony Financial from $47.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, May 1st. BTIG Research cut their target price on Synchrony Financial from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Synchrony Financial in a research note on Friday, June 9th. Finally, BidaskClub downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Synchrony Financial presently has a consensus rating of “Buy” and a consensus target price of $37.55.
Synchrony Financial (NYSE:SYF) opened at 30.54 on Friday. The firm has a market cap of $24.29 billion, a P/E ratio of 11.47 and a beta of 1.01. The company has a 50-day moving average of $30.03 and a 200 day moving average of $31.35. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same quarter in the previous year, the business earned $0.58 EPS. Equities research analysts expect that Synchrony Financial will post $2.60 earnings per share for the current fiscal year.
Synchrony Financial declared that its Board of Directors has initiated a share buyback program on Thursday, May 18th that authorizes the company to repurchase $1.64 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
In related news, Director Paget Leonard Alves bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were acquired at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the acquisition, the director now directly owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Synchrony Financial by 1.9% in the second quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock valued at $1,557,609,000 after buying an additional 956,331 shares during the period. BlackRock Inc. boosted its stake in shares of Synchrony Financial by 2,275.1% in the first quarter. BlackRock Inc. now owns 48,272,035 shares of the financial services provider’s stock valued at $1,655,730,000 after buying an additional 46,239,640 shares during the period. FMR LLC boosted its stake in shares of Synchrony Financial by 27.1% in the second quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after buying an additional 7,874,689 shares during the period. Berkshire Hathaway Inc. acquired a new stake in shares of Synchrony Financial during the second quarter valued at approximately $520,747,000. Finally, First Eagle Investment Management LLC boosted its stake in shares of Synchrony Financial by 1.2% in the second quarter. First Eagle Investment Management LLC now owns 17,303,205 shares of the financial services provider’s stock valued at $515,982,000 after buying an additional 197,074 shares during the period. 89.63% of the stock is owned by institutional investors and hedge funds.
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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