DA Davidson Comments on Synchrony Financial’s Q3 2016 Earnings (SYF)

Synchrony Financial (NYSE:SYF) – Equities research analysts at DA Davidson lowered their Q3 2016 earnings per share (EPS) estimates for shares of Synchrony Financial in a research note issued to investors on Thursday. DA Davidson analyst A. Cyganovich now anticipates that the brokerage will post earnings per share of $0.67 for the quarter, down from their prior forecast of $0.70. DA Davidson also issued estimates for Synchrony Financial’s FY2018 earnings at $3.40 EPS.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Synchrony Financial had a net margin of 15.63% and a return on equity of 16.97%. During the same quarter in the prior year, the company earned $0.65 earnings per share.

Earnings History and Estimates for Synchrony Financial (NYSE:SYF)

Several other research analysts have also commented on the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $108.00 price objective on shares of Synchrony Financial in a research note on Tuesday, July 5th. Jefferies Group reaffirmed a “buy” rating and set a $35.00 price objective on shares of Synchrony Financial in a research note on Wednesday, June 29th. Deutsche Bank AG reaffirmed a “buy” rating and set a $31.50 price objective on shares of Synchrony Financial in a research note on Thursday, August 18th. BTIG Research initiated coverage on shares of Synchrony Financial in a research note on Sunday, July 10th. They set a “buy” rating and a $42.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $39.87.

Synchrony Financial (NYSE:SYF) opened at 26.64 on Monday. The company has a market cap of $22.22 billion, a P/E ratio of 10.17 and a beta of 0.92. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $34.60. The stock’s 50 day moving average is $27.19 and its 200 day moving average is $28.16.

Hedge funds have recently made changes to their positions in the stock. Albert D Mason Inc. boosted its stake in shares of Synchrony Financial by 2.2% in the second quarter. Albert D Mason Inc. now owns 38,564 shares of the company’s stock valued at $975,000 after buying an additional 844 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in shares of Synchrony Financial by 16.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 9,440 shares of the company’s stock worth $239,000 after buying an additional 1,335 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Synchrony Financial during the second quarter worth $3,792,000. Heritage Investors Management Corp boosted its stake in shares of Synchrony Financial by 14.0% in the second quarter. Heritage Investors Management Corp now owns 434,790 shares of the company’s stock worth $10,991,000 after buying an additional 53,371 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of Synchrony Financial by 3.1% in the second quarter. Capstone Asset Management Co. now owns 61,535 shares of the company’s stock worth $1,556,000 after buying an additional 1,851 shares during the last quarter. Hedge funds and other institutional investors own 87.94% of the company’s stock.

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.

5 Day Chart for NYSE:SYF

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