Synchrony Financial (SYF) to Issue Quarterly Dividend of $0.34 on November 16th

Synchrony Financial (NYSE:SYF) announced a quarterly dividend on Tuesday, October 20th. Investors of record on Thursday, November 5th will be paid a dividend of $0.34 per share by the financial services provider on Monday, November 16th. This represents a $1.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, November 5th.

Synchrony Financial has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 4 years. Synchrony Financial has a payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Synchrony Financial to earn $10.44 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 13.0%.

Synchrony Financial Stock Up 1.0%

SYF stock opened at $74.12 on Thursday. Synchrony Financial has a one year low of $63.08 and a one year high of $88.77. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 1.23. The firm’s fifty day moving average is $75.67 and its 200 day moving average is $74.67. The firm has a market cap of $24.12 billion, a PE ratio of 7.74, a P/E/G ratio of 0.84 and a beta of 1.35.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.26. Synchrony Financial had a net margin of 14.59% and a return on equity of 22.26%. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the prior year, the firm posted $2.86 earnings per share. On average, research analysts forecast that Synchrony Financial will post 9.50 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SYF shares. TD Cowen reduced their target price on Synchrony Financial from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. JPMorgan Chase & Co. lifted their price target on shares of Synchrony Financial from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley cut their price target on shares of Synchrony Financial from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. Barclays boosted their price target on shares of Synchrony Financial from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Synchrony Financial in a report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and an average price target of $87.83.

Synchrony Financial Company Profile

Synchrony Financial (NYSE: SYF) is a consumer financial services company that provides private-label credit cards, co-branded credit cards and promotional financing programs. Its financing products are offered through retailers, manufacturers, healthcare providers and other businesses, helping consumers pay for purchases over time.

The company serves a range of industries, including digital commerce, home improvement, furniture, automotive, healthcare, jewelry, apparel, electronics and specialty retail.