Zacks Research Has Negative Forecast for SYF FY2024 Earnings

Synchrony Financial (NYSE:SYF) – Investment analysts at Zacks Research cut their FY2024 earnings per share estimates for Synchrony Financial in a research note issued on Tuesday, December 17th. Zacks Research analyst K. Dey now anticipates that the financial services provider will post earnings per share of $6.48 for the year, down from their previous estimate of $6.49. The consensus estimate for Synchrony Financial’s current full-year earnings is $6.51 per share. Zacks Research also issued estimates for Synchrony Financial’s Q4 2024 earnings at $1.81 EPS, Q3 2025 earnings at $1.69 EPS and FY2025 earnings at $6.05 EPS.

Several other brokerages have also weighed in on SYF. BTIG Research lowered Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Keefe, Bruyette & Woods boosted their price objective on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. JMP Securities reiterated a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a research report on Monday, October 14th. Evercore ISI boosted their price target on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.63.

Synchrony Financial Stock Up 1.8 %

SYF opened at $65.45 on Friday. The company has a fifty day moving average of $62.61 and a two-hundred day moving average of $52.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a fifty-two week low of $35.29 and a fifty-two week high of $69.39. The stock has a market capitalization of $25.48 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.82 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the firm earned $1.48 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.53%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s payout ratio is currently 13.05%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Synchrony Financial by 134.4% in the 2nd quarter. Blue Trust Inc. now owns 2,004 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 1,149 shares during the last quarter. Fifth Third Bancorp boosted its stake in Synchrony Financial by 0.9% during the second quarter. Fifth Third Bancorp now owns 38,601 shares of the financial services provider’s stock worth $1,822,000 after buying an additional 354 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Synchrony Financial during the second quarter valued at about $215,000. Family Firm Inc. purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at approximately $42,000. Finally, Tributary Capital Management LLC acquired a new position in shares of Synchrony Financial in the 2nd quarter worth approximately $326,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

About Synchrony Financial

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.