Synchrony Financial (NYSE:SYF) had its price target lifted by Morgan Stanley from $20.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.
SYF has been the subject of a number of other reports. Citigroup increased their price target on Synchrony Financial from $19.00 to $22.00 and gave the company a neutral rating in a research report on Wednesday, July 8th. Barclays lowered their price target on Synchrony Financial from $27.00 to $25.00 and set an equal weight rating for the company in a research report on Wednesday, July 22nd. Zacks Investment Research raised Synchrony Financial from a sell rating to a hold rating and set a $24.00 price target for the company in a research report on Thursday, July 23rd. Wolfe Research started coverage on Synchrony Financial in a research report on Friday, July 31st. They issued an outperform rating for the company. Finally, JPMorgan Chase & Co. downgraded Synchrony Financial from an overweight rating to a neutral rating and set a $24.00 price objective for the company. in a research note on Wednesday, July 15th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Synchrony Financial presently has an average rating of Hold and a consensus target price of $24.97.
Shares of NYSE:SYF opened at $27.23 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.44. Synchrony Financial has a twelve month low of $12.15 and a twelve month high of $38.18. The stock’s 50 day moving average is $24.78 and its 200-day moving average is $21.53. The firm has a market capitalization of $15.90 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 3.07 and a beta of 1.70.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results 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 analyst estimates of $2.90 billion. Synchrony Financial had a return on equity of 14.73% and a net margin of 11.79%. Synchrony Financial’s quarterly revenue was down 54.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. Equities research analysts anticipate that Synchrony Financial will post 1.52 earnings per share for the current fiscal year.
In related news, Director P.W. Parker acquired 10,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was acquired at an average price of $23.32 per share, for a total transaction of $233,200.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $233,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Will W. Graylin sold 7,500 shares of Synchrony Financial stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $21.77, for a total value of $163,275.00. Following the transaction, the director now owns 58,942 shares of the company’s stock, valued at approximately $1,283,167.34. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in Synchrony Financial by 1.2% during the second quarter. International Assets Investment Management LLC now owns 50,946 shares of the financial services provider’s stock valued at $73,000 after buying an additional 609 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Synchrony Financial by 4.0% during the second quarter. Janney Montgomery Scott LLC now owns 16,794 shares of the financial services provider’s stock valued at $372,000 after buying an additional 641 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in Synchrony Financial by 5.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 14,783 shares of the financial services provider’s stock valued at $328,000 after buying an additional 825 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Synchrony Financial by 329.6% in the second quarter. Valeo Financial Advisors LLC now owns 1,177 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 903 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Synchrony Financial by 21.7% in the second quarter. Signaturefd LLC now owns 5,107 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 911 shares during the last quarter. Institutional investors and hedge funds own 91.75% of the company’s stock.
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.
Featured Story: What is a support level?
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.
