Synchrony Financial Forecasted to Post Q4 2017 Earnings of $0.66 Per Share (SYF)

Synchrony Financial (NYSE:SYF) – Equities research analysts at Oppenheimer lowered their Q4 2017 earnings per share (EPS) estimates for Synchrony Financial in a research note issued to investors on Tuesday. Oppenheimer analyst B. Chittenden now anticipates that the financial services provider will post earnings of $0.66 per share for the quarter, down from their prior forecast of $0.68. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for Synchrony Financial’s Q4 2018 earnings at $0.95 EPS.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. During the same period last year, the business posted $0.73 earnings per share.

A number of other equities research analysts have also recently issued reports on SYF. Morgan Stanley cut Synchrony Financial from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $35.00 to $32.00 in a research note on Friday, September 8th. Jefferies Group reissued a “buy” rating and set a $40.00 price target on shares of Synchrony Financial in a report on Thursday, September 21st. Zacks Investment Research lowered Synchrony Financial from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Bank of America lowered Synchrony Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $35.00 to $33.00 in a report on Friday, October 6th. Finally, Wells Fargo & Co started coverage on Synchrony Financial in a report on Tuesday, October 10th. They set a “market perform” rating and a $33.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $38.30.

Shares of Synchrony Financial (NYSE SYF) opened at $39.40 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $30,830.00, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.64 and a beta of 1.06. Synchrony Financial has a one year low of $26.01 and a one year high of $39.86.

Large investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. purchased a new position in Synchrony Financial in the 2nd quarter worth about $520,747,000. Janus Henderson Group PLC increased its stake in Synchrony Financial by 1,820.5% in the 2nd quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock worth $326,070,000 after purchasing an additional 10,365,219 shares in the last quarter. FMR LLC increased its stake in Synchrony Financial by 27.1% in the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock worth $1,102,267,000 after purchasing an additional 7,874,689 shares in the last quarter. Capital World Investors purchased a new position in Synchrony Financial in the 2nd quarter worth about $202,269,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Synchrony Financial by 2,777.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,109,742 shares of the financial services provider’s stock worth $128,144,000 after purchasing an additional 3,966,900 shares in the last quarter. 85.46% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider David P. Melito sold 1,881 shares of Synchrony Financial stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $38.00, for a total transaction of $71,478.00. Following the transaction, the insider now directly owns 43,140 shares of the company’s stock, valued at $1,639,320. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David P. Melito sold 2,580 shares of Synchrony Financial stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total value of $90,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,961 shares of company stock worth $244,508. 0.03% of the stock is owned by corporate insiders.

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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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