Barclays Issues Positive Forecast for Synchrony Financial (NYSE:SYF) Stock Price

Key Points

• Barclays has raised its price target for Synchrony Financial (NYSE:SYF) stock from $80.00 to $83.00, indicating a potential upside of 15.78% from the previous close and maintaining an "overweight" rating.
• Analysts from Evercore ISI and Morgan Stanley have also increased their target prices for Synchrony Financial, reflecting strong market support with a current average rating of "Moderate Buy".
• Synchrony Financial reported $2.50 earnings per share for its most recent quarter, outperforming estimates and showing a significant increase from last year's $1.55, despite a slight decline in revenue year-over-year.

Synchrony Financial (NYSE:SYF - Get Free Report) had its price target raised by analysts at Barclays from $80.00 to $83.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Barclays's price objective indicates a potential upside of 15.78% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Rothschild & Co Redburn initiated coverage on Synchrony Financial in a report on Friday, August 1st. They set a "neutral" rating and a $72.00 target price for the company. Evercore ISI lifted their target price on Synchrony Financial from $83.00 to $84.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Synchrony Financial in a research report on Saturday, September 27th. Morgan Stanley lifted their target price on Synchrony Financial from $72.00 to $82.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. Finally, Royal Bank Of Canada lifted their target price on Synchrony Financial from $75.00 to $78.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $76.84.

Synchrony Financial Stock Up 0.6%

Shares of SYF traded up $0.46 on Monday, hitting $71.69. The company's stock had a trading volume of 944,635 shares, compared to its average volume of 3,898,649. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. The firm's fifty day moving average price is $73.21 and its 200-day moving average price is $63.66. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $77.41. The firm has a market capitalization of $26.67 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 0.72 and a beta of 1.50.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.78. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The business had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.71 billion. During the same period last year, the business earned $1.55 earnings per share. The firm's revenue was down 1.8% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Insider Transactions at Synchrony Financial

In related news, insider Darrell Owens sold 600 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the transaction, the insider directly owned 21,372 shares in the company, valued at $1,452,227.40. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the sale, the insider owned 68,588 shares in the company, valued at approximately $4,801,160. This represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Institutional Trading of Synchrony Financial

Several hedge funds have recently bought and sold shares of SYF. Norges Bank bought a new position in shares of Synchrony Financial in the second quarter worth about $299,360,000. Bank of America Corp DE boosted its position in shares of Synchrony Financial by 34.6% in the 2nd quarter. Bank of America Corp DE now owns 13,595,381 shares of the financial services provider's stock worth $907,356,000 after purchasing an additional 3,494,741 shares in the last quarter. Nuveen LLC purchased a new position in Synchrony Financial in the 1st quarter worth $175,294,000. Massachusetts Financial Services Co. MA raised its stake in Synchrony Financial by 755.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider's stock worth $115,408,000 after acquiring an additional 1,925,217 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Synchrony Financial by 129.5% during the 1st quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider's stock valued at $161,528,000 after buying an additional 1,721,891 shares during the last quarter. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.