Synchrony Financial (NYSE:SYF) had its price target upped by equities research analysts at Morgan Stanley from $20.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price objective points to a potential downside of 20.72% from the stock's current price.
Other analysts have also issued research reports about the company. Citigroup increased their price objective on Synchrony Financial from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Zacks Investment Research upgraded Synchrony Financial from a "sell" rating to a "hold" rating and set a $24.00 price objective for the company in a report on Thursday, July 23rd. ValuEngine upgraded Synchrony Financial from a "sell" rating to a "hold" rating in a report on Friday, September 11th. JMP Securities increased their price objective on Synchrony Financial from $21.00 to $27.50 and gave the company a "market outperform" rating in a report on Wednesday, June 17th. Finally, Wolfe Research assumed coverage on Synchrony Financial in a research report on Friday, July 31st. They issued an "outperform" rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Synchrony Financial presently has an average rating of "Hold" and a consensus target price of $24.97.
Shares of SYF opened at $26.49 on Wednesday. Synchrony Financial has a 12 month low of $12.15 and a 12 month high of $38.18. The stock has a fifty day moving average price of $24.56 and a 200-day moving average price of $21.57. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.44. The firm has a market cap of $15.46 billion, a PE ratio of 8.13, a P/E/G ratio of 3.07 and a beta of 1.70.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Synchrony Financial had a return on equity of 14.73% and a net margin of 11.79%. The firm had revenue of $950.00 million during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The business's revenue for the quarter was down 54.7% compared to the same quarter last year. As a group, research analysts forecast that Synchrony Financial will post 1.52 EPS for the current year.
In other Synchrony Financial news, Director P.W. Parker bought 10,000 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average cost of $23.32 per share, for a total transaction of $233,200.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $233,200. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Will W. Graylin sold 7,500 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $21.77, for a total value of $163,275.00. Following the sale, the director now owns 58,942 shares in the company, valued at $1,283,167.34. The disclosure for this sale can be found here. 0.45% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of SYF. Two Sigma Advisers LP lifted its stake in Synchrony Financial by 21.1% in the 2nd quarter. Two Sigma Advisers LP now owns 1,998,623 shares of the financial services provider's stock valued at $44,289,000 after buying an additional 348,000 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Synchrony Financial by 4.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 684,328 shares of the financial services provider's stock valued at $15,165,000 after buying an additional 29,093 shares in the last quarter. Bridgeway Capital Management Inc. lifted its stake in Synchrony Financial by 5.8% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 1,548,800 shares of the financial services provider's stock valued at $34,321,000 after buying an additional 84,800 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in Synchrony Financial in the 2nd quarter valued at about $3,008,000. Finally, Orion Portfolio Solutions LLC lifted its stake in Synchrony Financial by 131.1% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 5,252 shares of the financial services provider's stock valued at $116,000 after buying an additional 2,979 shares in the last quarter. Hedge funds and other institutional investors own 91.75% of the company's stock.
About Synchrony Financial
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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