Wolfe Research Begins Coverage on Synchrony Financial (NYSE:SYF)

Equities research analysts at Wolfe Research started coverage on shares of Synchrony Financial (NYSE:SYF) in a research report issued to clients and investors on Friday, The Fly reports. The brokerage set an “outperform” rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. BMO Capital Markets decreased their target price on Synchrony Financial from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Royal Bank of Canada reissued a “buy” rating and issued a $20.00 target price on shares of Synchrony Financial in a research note on Wednesday, April 22nd. Morgan Stanley boosted their target price on Synchrony Financial from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Oppenheimer reaffirmed a “buy” rating and set a $22.00 price objective on shares of Synchrony Financial in a research report on Tuesday, April 21st. Finally, Wells Fargo & Co reduced their price objective on Synchrony Financial from $40.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Synchrony Financial has a consensus rating of “Hold” and an average target price of $24.59.

NYSE SYF opened at $22.13 on Friday. The stock has a 50-day simple moving average of $22.92 and a 200 day simple moving average of $23.66. The company has a market capitalization of $12.92 billion, a PE ratio of 7.48, a P/E/G ratio of 2.66 and a beta of 1.67. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.44. Synchrony Financial has a 12 month low of $12.15 and a 12 month high of $38.18.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $950.00 million during the quarter, compared to the consensus estimate of $2.90 billion. Synchrony Financial had a return on equity of 14.73% and a net margin of 11.79%. The firm’s revenue was down 54.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 earnings per share. As a group, sell-side analysts predict that Synchrony Financial will post 1.51 earnings per share for the current fiscal year.

In related news, Director P.W. Parker purchased 10,000 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average price of $23.32 per share, with a total value of $233,200.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $233,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Will W. Graylin sold 7,500 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $21.77, for a total value of $163,275.00. Following the sale, the director now directly owns 58,942 shares in the company, valued at approximately $1,283,167.34. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the business. Dumont & Blake Investment Advisors LLC boosted its holdings in shares of Synchrony Financial by 93.6% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 47,686 shares of the financial services provider’s stock valued at $1,057,000 after purchasing an additional 23,051 shares in the last quarter. UBS Group AG boosted its holdings in shares of Synchrony Financial by 32.8% in the 2nd quarter. UBS Group AG now owns 1,177,965 shares of the financial services provider’s stock valued at $26,104,000 after purchasing an additional 290,716 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in shares of Synchrony Financial in the 2nd quarter valued at $26,000. Signaturefd LLC boosted its holdings in shares of Synchrony Financial by 21.7% in the 2nd quarter. Signaturefd LLC now owns 5,107 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 911 shares in the last quarter. Finally, Brinker Capital Inc. boosted its holdings in shares of Synchrony Financial by 92.2% in the 2nd quarter. Brinker Capital Inc. now owns 61,101 shares of the financial services provider’s stock valued at $1,354,000 after purchasing an additional 29,318 shares in the last quarter. 87.85% of the stock is currently owned by hedge funds and other institutional investors.

About Synchrony Financial

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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Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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