Weiss Ratings Reiterates "Buy (B-)" Rating for Synchrony Financial (NYSE:SYF)

Key Points

• Weiss Ratings has restated its "Buy (B-)" rating for Synchrony Financial (NYSE:SYF), reflecting confidence in the company's stock performance prospects.
• The stock currently has an average price target of $77.26 and is rated as a "Moderate Buy" by twelve analysts, with a mix of buy and hold recommendations.
• Synchrony Financial reported $2.50 earnings per share in its last quarterly earnings, which surpassed expectations, although its revenue decreased slightly year-over-year.

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

Several other research analysts have also recently commented on SYF. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Rothschild & Co Redburn initiated coverage on Synchrony Financial in a report on Friday, August 1st. They set a "neutral" rating and a $72.00 price target for the company. Truist Financial increased their target price on Synchrony Financial from $68.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $75.00 price target (down previously from $80.00) on shares of Synchrony Financial in a report on Tuesday. Finally, JMP Securities boosted their price target on Synchrony Financial from $77.00 to $88.00 and gave the stock a "market outperform" rating in a report on Thursday, September 25th. Twelve research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.26.

Synchrony Financial Trading Up 0.1%

Shares of Synchrony Financial stock traded up $0.07 during trading hours on Wednesday, hitting $70.97. The company's stock had a trading volume of 4,060,582 shares, compared to its average volume of 3,447,205. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41. The stock has a 50 day moving average of $73.18 and a 200 day moving average of $63.88. The company has a market capitalization of $26.41 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.71 and a beta of 1.50. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24.

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

Insider Activity

In other news, insider Darrell Owens sold 600 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 21,372 shares of the company's stock, valued at $1,452,227.40. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the transaction, the insider owned 68,588 shares in the company, valued at $4,801,160. This represents a 11.04% decrease in their position. 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

Hedge funds have recently made changes to their positions in the stock. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new stake in Synchrony Financial during the second quarter worth about $26,000. Zions Bancorporation National Association UT bought a new stake in shares of Synchrony Financial in the 1st quarter valued at about $30,000. True Wealth Design LLC lifted its stake in shares of 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 valued at $31,000 after acquiring an additional 463 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 455 shares during the last quarter. Finally, MAI Capital Management lifted its stake in shares of Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 167 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other 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.

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.