Q2 2022 Earnings Forecast for Synchrony Financial Issued By Seaport Res Ptn (NYSE:SYF)

Synchrony Financial (NYSE:SYFGet Rating) – Equities research analysts at Seaport Res Ptn upped their Q2 2022 earnings estimates for shares of Synchrony Financial in a research note issued to investors on Monday, May 16th. Seaport Res Ptn analyst W. Ryan now forecasts that the financial services provider will earn $1.43 per share for the quarter, up from their previous forecast of $1.23. Seaport Res Ptn also issued estimates for Synchrony Financial’s FY2022 earnings at $5.66 EPS.

A number of other research analysts have also commented on SYF. JPMorgan Chase & Co. decreased their price objective on Synchrony Financial from $55.00 to $51.00 in a research report on Wednesday, January 19th. StockNews.com began coverage on Synchrony Financial in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Wolfe Research downgraded Synchrony Financial from a “peer perform” rating to an “underperform” rating and set a $22.00 price target on the stock. in a research note on Thursday, May 12th. Stephens cut their price target on Synchrony Financial from $54.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 19th. Finally, Bank of America cut their price target on Synchrony Financial from $52.00 to $45.00 in a research note on Thursday, March 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $51.26.

Shares of SYF opened at $35.40 on Wednesday. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of 4.80, a PEG ratio of 0.25 and a beta of 1.43. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.18 and a current ratio of 1.24. The business’s fifty day moving average price is $36.85 and its two-hundred day moving average price is $42.54. Synchrony Financial has a 52 week low of $32.04 and a 52 week high of $52.49.

Synchrony Financial (NYSE:SYFGet Rating) last released its quarterly earnings data 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 period last year, the company posted $1.73 EPS.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning grew its holdings in Synchrony Financial by 82.4% during the third quarter. Creative Planning now owns 7,803 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 3,524 shares during the period. IndexIQ Advisors LLC lifted its position in Synchrony Financial by 8.9% during the third quarter. IndexIQ Advisors LLC now owns 10,061 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 822 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Synchrony Financial by 5.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 71,393 shares of the financial services provider’s stock worth $3,490,000 after acquiring an additional 3,626 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Synchrony Financial by 11.5% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 306,169 shares of the financial services provider’s stock worth $14,966,000 after acquiring an additional 31,680 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Synchrony Financial by 4.4% during the third quarter. Goldman Sachs Group Inc. now owns 7,633,198 shares of the financial services provider’s stock worth $373,111,000 after acquiring an additional 324,304 shares during the last quarter. Institutional investors own 98.26% of the company’s stock.

Synchrony Financial announced that its board has authorized a share repurchase plan on Monday, April 18th that allows the company to repurchase $2.80 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 2nd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Friday, April 29th. Synchrony Financial’s dividend payout ratio is 11.94%.

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

Earnings History and Estimates 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.