Synchrony Financial (NYSE:SYF) Shareholders Set to Receive $0.34 Quarterly Dividend

Synchrony Financial (NYSE:SYF) announced a quarterly dividend on Tuesday, October 20th. Investors of record on Thursday, November 5th will be given a dividend of $0.34 per share by the financial services provider on Monday, November 16th. This represents a $1.36 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, November 5th.

Synchrony Financial has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 4 years. Synchrony Financial has a dividend payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Synchrony Financial to earn $10.44 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 13.0%.

Synchrony Financial Stock Down 1.1%

SYF stock traded down $0.80 during trading on Tuesday, reaching $73.44. The stock had a trading volume of 5,153,019 shares, compared to its average volume of 3,911,097. Synchrony Financial has a 1-year low of $63.08 and a 1-year high of $88.77. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $23.90 billion, a P/E ratio of 7.52, a PEG ratio of 0.86 and a beta of 1.35. The firm has a fifty day moving average price of $75.88 and a 200 day moving average price of $74.60.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.26. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.81 billion. Synchrony Financial had a return on equity of 23.09% and a net margin of 15.44%. During the same period last year, the firm earned $2.86 earnings per share. On average, equities analysts anticipate that Synchrony Financial will post 9.40 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYF. Morgan Stanley reduced their price target on Synchrony Financial from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. Weiss Ratings raised Synchrony Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. TD Cowen reduced their target price on Synchrony Financial from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Wolfe Research increased their target price on Synchrony Financial from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Synchrony Financial in a research report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus price target of $88.18.

About Synchrony Financial

Synchrony Financial (NYSE: SYF) is a consumer financial services company that provides private-label credit cards, co-branded credit cards and promotional financing programs. Its financing products are offered through retailers, manufacturers, healthcare providers and other businesses, helping consumers pay for purchases over time.

The company serves a range of industries, including digital commerce, home improvement, furniture, automotive, healthcare, jewelry, apparel, electronics and specialty retail.