Synchrony Financial (NYSE:SYF) Releases FY 2024 Earnings Guidance

Synchrony Financial (NYSE:SYF) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 8.450-8.550 for the period, compared to the consensus EPS estimate of 7.710. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several research firms recently weighed in on SYF. Royal Bank of Canada raised their target price on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research note on Thursday. JMP Securities restated a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Baird R W raised shares of Synchrony Financial to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Morgan Stanley raised their price target on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.25.

Synchrony Financial Trading Down 0.5 %

SYF stock opened at $56.42 on Friday. The business has a fifty day simple moving average of $49.43 and a 200-day simple moving average of $46.60. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $57.26. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 1.26 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.17. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. Synchrony Financial’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 earnings per share. On average, equities research analysts expect that Synchrony Financial will post 5.81 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 1.77%. Synchrony Financial’s payout ratio is 13.89%.

Insider Activity

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares in the company, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

About Synchrony Financial

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 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.