Synchrony Financial to Post Q3 2022 Earnings of $1.28 Per Share, Jefferies Financial Group Forecasts (NYSE:SYF)

Synchrony Financial (NYSE:SYFGet Rating) – Investment analysts at Jefferies Financial Group boosted their Q3 2022 earnings per share estimates for shares of Synchrony Financial in a report released on Monday, April 18th. Jefferies Financial Group analyst J. Hecht now expects that the financial services provider will post earnings per share of $1.28 for the quarter, up from their prior estimate of $1.24. Jefferies Financial Group also issued estimates for Synchrony Financial’s Q4 2022 earnings at $1.23 EPS, Q1 2023 earnings at $1.75 EPS and Q4 2023 earnings at $1.07 EPS.

Several other analysts also recently issued reports on SYF. StockNews.com started coverage on Synchrony Financial in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Bank of America reduced their target price on Synchrony Financial from $52.00 to $45.00 in a research report on Thursday, March 17th. Barclays increased their target price on Synchrony Financial from $63.00 to $64.00 in a research report on Monday, January 10th. Wolfe Research downgraded Synchrony Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 17th. Finally, The Goldman Sachs Group increased their target price on Synchrony Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Synchrony Financial presently has a consensus rating of “Buy” and an average price target of $52.53.

Shares of NYSE:SYF opened at $40.48 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.25 and a debt-to-equity ratio of 1.12. Synchrony Financial has a 52-week low of $33.76 and a 52-week high of $52.49. The stock’s fifty day simple moving average is $38.43 and its 200-day simple moving average is $44.23. The company has a market capitalization of $20.49 billion, a P/E ratio of 5.52, a P/E/G ratio of 0.29 and a beta of 1.60.

Synchrony Financial (NYSE:SYFGet Rating) last issued its quarterly earnings data on Monday, April 18th. The financial services provider reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.23. Synchrony Financial had a return on equity of 30.77% and a net margin of 27.27%. During the same period in the prior year, the company earned $1.73 EPS.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC lifted its holdings in Synchrony Financial by 3.9% during the 3rd quarter. Signaturefd LLC now owns 6,904 shares of the financial services provider’s stock worth $337,000 after buying an additional 261 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Synchrony Financial by 26.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 39,977 shares of the financial services provider’s stock worth $1,954,000 after buying an additional 8,414 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Synchrony Financial by 103.0% during the 3rd quarter. Nordea Investment Management AB now owns 3,400,164 shares of the financial services provider’s stock worth $171,164,000 after buying an additional 1,725,009 shares during the last quarter. ING Groep NV lifted its holdings in Synchrony Financial by 7.7% during the 3rd quarter. ING Groep NV now owns 47,829 shares of the financial services provider’s stock worth $2,338,000 after buying an additional 3,406 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC lifted its holdings in Synchrony Financial by 2.5% during the 3rd quarter. Dumont & Blake Investment Advisors LLC now owns 46,952 shares of the financial services provider’s stock worth $2,295,000 after buying an additional 1,135 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

In other Synchrony Financial news, insider David P. Melito sold 9,351 shares of the firm’s stock in a transaction that occurred on Thursday, January 27th. The stock was sold at an average price of $46.05, for a total transaction of $430,613.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.44% of the stock is currently owned by company insiders.

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

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 15th. Stockholders of record on Thursday, February 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, February 9th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.17%. Synchrony Financial’s dividend payout ratio (DPR) is currently 12.01%.

Synchrony Financial Company Profile (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.

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

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