BTIG Research reissued their buy rating on shares of Synchrony Financial (NYSE:SYF) in a research note published on Sunday. The brokerage currently has a $44.00 target price on the financial services provider’s stock.
“Capital Return, Potential Tax Cut Boost = Upside We are reiterating our Buy recommendation on Synchrony Financial (SYF) while raising our price target to $44 from $36 based on 12x our FY19E earnings per share of $3.70. We believe SYF offers investors an attractive story featuring loan growth and capital return that position it to expand both EPS and ROE, and that the company’s enhanced partnership with PayPal (PYPL, Buy, $81 PT) offered the latest demonstration of its capabilities and capacity versus its card-issuing peers. We also view SYF as well positioned to benefit from the growth of eCommerce given its partnerships with PYPL, Amazon (AMZN, Not Rated) and others and its ability to extend its online and mobile capabilities to traditional retail partners.”,” BTIG Research’s analyst wrote.
Several other equities analysts have also recently issued reports on SYF. Wedbush set a $41.00 target price on Synchrony Financial and gave the stock a hold rating in a research report on Monday, December 11th. Jefferies Group reiterated a buy rating and set a $40.00 target price on shares of Synchrony Financial in a research report on Thursday, September 21st. BidaskClub upgraded Synchrony Financial from a sell rating to a hold rating in a research report on Saturday, August 26th. Zacks Investment Research upgraded Synchrony Financial from a strong sell rating to a hold rating in a research report on Monday, October 23rd. Finally, Barclays set a $53.00 target price on Synchrony Financial and gave the stock a buy rating in a research report on Tuesday, December 12th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $38.30.
Synchrony Financial (NYSE SYF) traded up $0.20 during midday trading on Friday, reaching $37.19. The company’s stock had a trading volume of 8,883,500 shares, compared to its average volume of 7,064,481. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.47 and a quick ratio of 1.47. Synchrony Financial has a 52 week low of $26.01 and a 52 week high of $38.06. The firm has a market cap of $29,104.59, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the firm posted $0.73 EPS. research analysts predict that Synchrony Financial will post 2.59 earnings per share for the current year.
In other Synchrony Financial news, insider David P. Melito sold 1,881 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $38.00, for a total transaction of $71,478.00. Following the sale, the insider now owns 43,140 shares in the company, valued at approximately $1,639,320. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan S. Mothner sold 1,000 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $33.50, for a total value of $33,500.00. Following the sale, the insider now owns 113,578 shares in the company, valued at approximately $3,804,863. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,961 shares of company stock worth $244,508. 0.03% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in SYF. Global X Management Co. LLC grew its holdings in Synchrony Financial by 19.8% during the 2nd quarter. Global X Management Co. LLC now owns 7,460 shares of the financial services provider’s stock valued at $222,000 after buying an additional 1,234 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Synchrony Financial by 8.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,717,021 shares of the financial services provider’s stock valued at $81,022,000 after buying an additional 212,342 shares during the last quarter. Wedbush Securities Inc. grew its holdings in Synchrony Financial by 8.4% during the 2nd quarter. Wedbush Securities Inc. now owns 8,978 shares of the financial services provider’s stock valued at $268,000 after buying an additional 695 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Synchrony Financial by 9.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 78,041 shares of the financial services provider’s stock valued at $2,327,000 after buying an additional 6,457 shares during the last quarter. Finally, LMR Partners LLP acquired a new stake in Synchrony Financial during the 2nd quarter valued at $853,000. Hedge funds and other institutional investors own 85.77% of the company’s stock.
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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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