Synchrony Financial (NYSE:SYF) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Synchrony Financial (NYSE:SYFGet Rating) from a hold rating to a buy rating in a research report report published on Monday.

Other equities analysts have also issued research reports about the company. Wolfe Research lowered Synchrony Financial from a peer perform rating to an underperform rating and set a $22.00 price objective for the company. in a research note on Thursday, May 12th. Stephens reduced their price objective on Synchrony Financial from $54.00 to $47.00 and set an equal weight rating for the company in a research note on Tuesday, April 19th. The Goldman Sachs Group lifted their price objective on Synchrony Financial from $40.00 to $45.00 and gave the company a buy rating in a research note on Tuesday, April 19th. Bank of America reduced their price objective on Synchrony Financial from $52.00 to $45.00 in a research note on Thursday, March 17th. Finally, BMO Capital Markets lifted their price objective on Synchrony Financial from $49.00 to $52.00 and gave the company an outperform rating in a research note on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $51.00.

Shares of SYF stock opened at $28.22 on Monday. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 3.83, a price-to-earnings-growth ratio of 0.23 and a beta of 1.43. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.24 and a quick ratio of 1.18. The business has a fifty day moving average of $34.99 and a 200 day moving average of $39.73. Synchrony Financial has a 1 year low of $27.40 and a 1 year high of $52.49.

Synchrony Financial (NYSE:SYFGet Rating) last issued its earnings results on Monday, April 18th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.20. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $2.66 billion. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. During the same quarter last year, the business posted $1.73 EPS. As a group, equities research analysts expect that Synchrony Financial will post 5.63 earnings per share for the current year.

Synchrony Financial announced that its board has initiated a stock buyback program on Monday, April 18th that permits the company to repurchase $2.80 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 13.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 2nd were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Friday, April 29th. Synchrony Financial’s payout ratio is 11.94%.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Synchrony Financial by 2.4% in the 1st quarter. BlackRock Inc. now owns 47,846,561 shares of the financial services provider’s stock worth $1,665,537,000 after buying an additional 1,102,772 shares during the last quarter. State Street Corp boosted its holdings in Synchrony Financial by 1.2% in the 4th quarter. State Street Corp now owns 26,545,656 shares of the financial services provider’s stock worth $1,231,453,000 after buying an additional 313,449 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Synchrony Financial by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 11,682,675 shares of the financial services provider’s stock worth $541,001,000 after buying an additional 689,643 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Synchrony Financial by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,123,671 shares of the financial services provider’s stock worth $282,786,000 after buying an additional 484,220 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Synchrony Financial by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,971,125 shares of the financial services provider’s stock worth $242,720,000 after purchasing an additional 470,937 shares during the last quarter. Institutional investors own 98.26% of the company’s stock.

About Synchrony Financial (Get Rating)

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

Featured Stories

Analyst Recommendations for Synchrony Financial (NYSE:SYF)

Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.