Synchrony Financial (NYSE:SYF) Expected to Post Quarterly Sales of $4.21 Billion

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Analysts expect Synchrony Financial (NYSE:SYF) to announce $4.21 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Synchrony Financial’s earnings. The highest sales estimate is $4.24 billion and the lowest is $4.16 billion. Synchrony Financial reported sales of $3.74 billion during the same quarter last year, which indicates a positive year over year growth rate of 12.6%. The company is scheduled to report its next quarterly earnings report on Friday, July 26th.

According to Zacks, analysts expect that Synchrony Financial will report full-year sales of $16.88 billion for the current fiscal year, with estimates ranging from $16.73 billion to $16.98 billion. For the next financial year, analysts anticipate that the firm will report sales of $16.58 billion, with estimates ranging from $16.03 billion to $17.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Synchrony Financial.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. Synchrony Financial had a return on equity of 19.79% and a net margin of 17.52%. During the same quarter in the prior year, the company earned $0.83 earnings per share.

SYF has been the topic of a number of recent research reports. Zacks Investment Research cut Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Wells Fargo & Co reissued a “buy” rating on shares of Synchrony Financial in a research note on Wednesday, March 13th. ValuEngine raised Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. Morgan Stanley increased their target price on Synchrony Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, April 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 target price on shares of Synchrony Financial in a research note on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $37.47.

SYF traded down $0.45 during trading on Wednesday, reaching $33.99. The stock had a trading volume of 99,809 shares, compared to its average volume of 6,487,312. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 1.49. The company has a market cap of $23.64 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23. Synchrony Financial has a one year low of $21.77 and a one year high of $35.50.

In related news, insider David P. Melito sold 6,014 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $34.25, for a total transaction of $205,979.50. Following the sale, the insider now directly owns 29,476 shares of the company’s stock, valued at $1,009,553. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Margaret M. Keane sold 125,000 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $33.82, for a total value of $4,227,500.00. Following the sale, the insider now directly owns 648,901 shares in the company, valued at $21,945,831.82. The disclosure for this sale can be found here. Insiders have sold 134,218 shares of company stock worth $4,542,416 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. grew its stake in Synchrony Financial by 34.6% in the 4th quarter. First Mercantile Trust Co. now owns 4,550 shares of the financial services provider’s stock valued at $107,000 after buying an additional 1,170 shares during the last quarter. LSV Asset Management grew its position in Synchrony Financial by 67.8% in the 4th quarter. LSV Asset Management now owns 112,254 shares of the financial services provider’s stock worth $2,633,000 after purchasing an additional 45,354 shares during the last quarter. Roosevelt Investment Group Inc. acquired a new stake in Synchrony Financial in the 4th quarter worth $496,000. Oregon Public Employees Retirement Fund grew its position in Synchrony Financial by 2,218.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,810,995 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 1,732,885 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in Synchrony Financial in the 4th quarter worth $9,012,000. 84.85% of the stock is currently owned by institutional investors.

Synchrony Financial Company Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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

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