Zacks: Analysts Expect Synchrony Financial (NYSE:SYF) Will Post Quarterly Sales of $3.66 Billion

Equities research analysts forecast that Synchrony Financial (NYSE:SYFGet Rating) will announce sales of $3.66 billion for the current quarter, according to Zacks. Fifteen analysts have provided estimates for Synchrony Financial’s earnings, with the highest sales estimate coming in at $3.90 billion and the lowest estimate coming in at $3.31 billion. Synchrony Financial posted sales of $3.31 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 10.6%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Synchrony Financial will report full-year sales of $15.22 billion for the current fiscal year, with estimates ranging from $14.87 billion to $15.57 billion. For the next fiscal year, analysts forecast that the company will post sales of $16.38 billion, with estimates ranging from $15.83 billion to $17.94 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Synchrony Financial.

Synchrony Financial (NYSE:SYFGet Rating) last announced its earnings results on Monday, April 18th. The financial services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.23. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. During the same quarter in the previous year, the company earned $1.73 earnings per share.

A number of research firms recently weighed in on SYF. BMO Capital Markets increased their price target on Synchrony Financial from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Tuesday, April 19th. Morgan Stanley lowered Synchrony Financial from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $56.00 to $40.00 in a research report on Monday, March 28th. StockNews.com initiated coverage on Synchrony Financial in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler raised Synchrony Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $48.00 to $49.00 in a research note on Wednesday, April 6th. Finally, Wolfe Research downgraded Synchrony Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $52.89.

NYSE:SYF opened at $37.03 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 1.05. Synchrony Financial has a 1-year low of $33.76 and a 1-year high of $52.49. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 5.02, a price-to-earnings-growth ratio of 0.29 and a beta of 1.43. The stock has a fifty day simple moving average of $37.16 and a 200 day simple moving average of $43.10.

Synchrony Financial declared that its Board of Directors has authorized a share buyback plan on Monday, April 18th that authorizes the company to repurchase $2.80 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 13.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 12th. Investors of record on Monday, May 2nd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Friday, April 29th. Synchrony Financial’s payout ratio is 11.94%.

Several hedge funds have recently modified their holdings of SYF. Advisor Group Holdings Inc. raised its stake in shares of Synchrony Financial by 1.3% in the 3rd quarter. Advisor Group Holdings Inc. now owns 79,322 shares of the financial services provider’s stock valued at $3,878,000 after acquiring an additional 998 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of Synchrony Financial in the 3rd quarter valued at approximately $26,000. Keybank National Association OH acquired a new stake in Synchrony Financial in the 3rd quarter valued at approximately $224,000. Checchi Capital Advisers LLC acquired a new stake in Synchrony Financial in the 3rd quarter valued at approximately $204,000. Finally, Ieq Capital LLC grew its holdings in Synchrony Financial by 78.2% in the 3rd quarter. Ieq Capital LLC now owns 8,092 shares of the financial services provider’s stock valued at $396,000 after buying an additional 3,551 shares during the last quarter. 98.26% of the stock is currently owned by institutional investors and hedge funds.

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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