Synchrony Financial (NYSE:SYF) – Wedbush boosted their Q3 2018 earnings per share (EPS) estimates for Synchrony Financial in a research note issued on Tuesday. Wedbush analyst H. Coffey now forecasts that the financial services provider will post earnings of $0.83 per share for the quarter, up from their prior estimate of $0.75. Wedbush currently has a “Hold” rating and a $41.00 target price on the stock. Wedbush also issued estimates for Synchrony Financial’s Q4 2018 earnings at $1.04 EPS, Q1 2019 earnings at $1.03 EPS, Q2 2019 earnings at $0.88 EPS, Q3 2019 earnings at $1.12 EPS, Q4 2019 earnings at $0.97 EPS, FY2019 earnings at $4.00 EPS and FY2020 earnings at $4.40 EPS.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, January 19th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.96 billion. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. During the same period in the previous year, the company posted $0.70 EPS.
Synchrony Financial (SYF) opened at $34.67 on Thursday. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $40.59. The company has a market capitalization of $27,443.83, a PE ratio of 13.78, a PEG ratio of 1.39 and a beta of 1.07. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.45 and a current ratio of 1.45.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Friday, February 2nd. Synchrony Financial’s dividend payout ratio (DPR) is presently 24.90%.
In other news, insider Thomas M. Quindlen sold 10,712 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $36.73, for a total transaction of $393,451.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Melito sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the sale, the insider now owns 39,259 shares of the company’s stock, valued at approximately $1,570,360. The disclosure for this sale can be found here. Insiders have sold 25,850 shares of company stock valued at $955,616 in the last 90 days. Company insiders own 0.03% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC raised its position in Synchrony Financial by 4.5% in the fourth quarter. Harbour Capital Advisors LLC now owns 32,630 shares of the financial services provider’s stock worth $1,260,000 after acquiring an additional 1,405 shares in the last quarter. BB&T Corp raised its position in Synchrony Financial by 4.5% in the fourth quarter. BB&T Corp now owns 33,086 shares of the financial services provider’s stock worth $1,277,000 after acquiring an additional 1,417 shares in the last quarter. Carnick & Kubik Group LLC raised its position in Synchrony Financial by 3.7% in the fourth quarter. Carnick & Kubik Group LLC now owns 41,991 shares of the financial services provider’s stock worth $1,621,000 after acquiring an additional 1,509 shares in the last quarter. Westchester Capital Management Inc. raised its position in Synchrony Financial by 0.6% in the fourth quarter. Westchester Capital Management Inc. now owns 252,146 shares of the financial services provider’s stock worth $9,735,000 after acquiring an additional 1,515 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Synchrony Financial by 8.7% in the third quarter. Oppenheimer & Co. Inc. now owns 19,536 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 1,571 shares in the last quarter. Institutional investors and hedge funds own 88.65% of the company’s stock.
About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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