Synchrony Financial (NYSE:SYF) to Post Q2 2024 Earnings of $1.51 Per Share, Seaport Res Ptn Forecasts

Synchrony Financial (NYSE:SYF - Free Report) - Analysts at Seaport Res Ptn lifted their Q2 2024 earnings per share estimates for shares of Synchrony Financial in a note issued to investors on Thursday, April 25th. Seaport Res Ptn analyst W. Ryan now forecasts that the financial services provider will post earnings of $1.51 per share for the quarter, up from their previous estimate of $1.49. The consensus estimate for Synchrony Financial's current full-year earnings is $5.57 per share. Seaport Res Ptn also issued estimates for Synchrony Financial's Q3 2024 earnings at $1.88 EPS and FY2025 earnings at $4.45 EPS.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.19). The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same quarter in the previous year, the company earned $1.35 earnings per share.

SYF has been the subject of several other reports. Morgan Stanley reiterated an "underweight" rating and issued a $30.00 price target on shares of Synchrony Financial in a report on Thursday, February 8th. BMO Capital Markets increased their price target on Synchrony Financial from $40.00 to $41.00 and gave the company a "market perform" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on Synchrony Financial in a report on Wednesday, January 10th. They issued a "buy" rating and a $56.00 price target for the company. Bank of America increased their price target on Synchrony Financial from $43.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Piper Sandler increased their price target on Synchrony Financial from $46.00 to $48.00 and gave the company an "overweight" rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $42.72.

Synchrony Financial Trading Up 0.0 %

Shares of SYF stock traded up $0.01 on Friday, reaching $44.67. 3,694,993 shares of the stock were exchanged, compared to its average volume of 4,513,845. The stock has a market cap of $18.17 billion, a P/E ratio of 6.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $41.67 and a two-hundred day moving average of $36.86. Synchrony Financial has a 1-year low of $26.59 and a 1-year high of $45.46.

Synchrony Financial declared that its board has approved a share buyback plan on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 5.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.24%. Synchrony Financial's payout ratio is 14.35%.

Insider Transactions at Synchrony Financial

In other news, insider David P. Melito sold 7,283 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the transaction, the insider now owns 14,183 shares of the company's stock, valued at $552,995.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the firm's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the transaction, the insider now owns 14,183 shares of the company's stock, valued at $552,995.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian D. Doubles sold 134,696 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the transaction, the insider now directly owns 660,353 shares in the company, valued at approximately $27,246,164.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,158 shares of company stock valued at $6,106,106. Insiders own 0.65% of the company's stock.

Hedge Funds Weigh In On Synchrony Financial

A number of large investors have recently bought and sold shares of the business. Fifth Third Bancorp increased its stake in shares of Synchrony Financial by 0.7% during the first quarter. Fifth Third Bancorp now owns 38,247 shares of the financial services provider's stock valued at $1,649,000 after acquiring an additional 250 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Synchrony Financial by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider's stock valued at $1,518,000 after acquiring an additional 262 shares during the period. US Bancorp DE increased its stake in shares of Synchrony Financial by 0.8% during the fourth quarter. US Bancorp DE now owns 34,804 shares of the financial services provider's stock valued at $1,329,000 after acquiring an additional 268 shares during the period. MV Capital Management Inc. increased its stake in shares of Synchrony Financial by 8.3% during the first quarter. MV Capital Management Inc. now owns 3,509 shares of the financial services provider's stock valued at $151,000 after acquiring an additional 270 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Synchrony Financial by 4.3% during the fourth quarter. Assetmark Inc. now owns 6,933 shares of the financial services provider's stock valued at $265,000 after acquiring an additional 288 shares during the period. Institutional investors own 96.48% 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.