Synchrony Financial's (SYF) Buy (B-) Rating Reiterated at Weiss Ratings

Key Points

• Synchrony Financial maintained its "buy (B-)" rating by Weiss Ratings, indicating continued confidence in the company's stock performance.
• Several analysts have recently raised their price targets for Synchrony Financial, with Evercore ISI setting it at $84.00 and HSBC increasing it to $81.00.
• The company reported earnings per share of $2.86 for the last quarter, exceeding expectations, and announced a stock repurchase plan worth $1.00 billion.

Synchrony Financial (NYSE:SYF - Get Free Report)'s stock had its "buy (b-)" rating restated by equities researchers at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Other analysts also recently issued research reports about the company. Evercore ISI upped their price target on Synchrony Financial from $83.00 to $84.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. HSBC raised Synchrony Financial from a "hold" rating to a "buy" rating and upped their price objective for the company from $73.00 to $81.00 in a research report on Friday, October 10th. JMP Securities upped their price objective on Synchrony Financial from $77.00 to $88.00 and gave the company a "market outperform" rating in a research report on Thursday, September 25th. Bank of America upped their price objective on Synchrony Financial from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Finally, Rothschild & Co Redburn started coverage on Synchrony Financial in a research report on Friday, August 1st. They issued a "neutral" rating and a $72.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Synchrony Financial presently has a consensus rating of "Moderate Buy" and an average price target of $81.38.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $74.82 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $27.84 billion, a P/E ratio of 8.17, a PEG ratio of 0.73 and a beta of 1.50. The stock's 50 day moving average is $73.60 and its 200 day moving average is $65.60. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.41.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.64. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial declared that its board has authorized a stock repurchase plan on Wednesday, October 15th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Synchrony Financial

In related news, insider Darrell Owens sold 600 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $67.95, for a total value of $40,770.00. Following the transaction, the insider directly owned 21,372 shares of the company's stock, valued at approximately $1,452,227.40. This trade represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the firm's stock in a transaction 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 transaction, the insider directly 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. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Synchrony Financial

Institutional investors have recently bought and sold shares of the stock. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new position in Synchrony Financial in the 2nd quarter worth $26,000. Salomon & Ludwin LLC raised its holdings in Synchrony Financial by 54.9% in the 3rd quarter. Salomon & Ludwin LLC now owns 412 shares of the financial services provider's stock worth $29,000 after purchasing an additional 146 shares during the period. Zions Bancorporation National Association UT bought a new position in Synchrony Financial in the 1st quarter worth $30,000. True Wealth Design LLC raised its holdings in Synchrony Financial by 5,787.5% in the 2nd quarter. True Wealth Design LLC now owns 471 shares of the financial services provider's stock worth $31,000 after purchasing an additional 463 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider's stock worth $31,000 after buying an additional 455 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

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.

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