Synchrony Financial (NYSE:SYF) Releases FY 2024 Earnings Guidance

Synchrony Financial (NYSE:SYF) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 8.450-8.550 for the period, compared to the consensus earnings per share estimate of 7.710. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

SYF has been the topic of several recent research reports. The Goldman Sachs Group raised their price objective on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Wells Fargo & Company raised their price target on shares of Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. BMO Capital Markets decreased their price objective on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a report on Thursday, July 18th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 9th. Finally, Baird R W raised Synchrony Financial to a “strong-buy” rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

Synchrony Financial Price Performance

NYSE:SYF opened at $56.53 on Thursday. The company has a fifty day moving average price of $49.02 and a 200 day moving average price of $46.43. The stock has a market cap of $22.34 billion, a P/E ratio of 7.85, a PEG ratio of 1.26 and a beta of 1.61. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. Synchrony Financial has a one year low of $27.30 and a one year high of $56.59.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the business earned $1.32 earnings per share. Analysts anticipate that Synchrony Financial will post 5.81 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Monday, August 5th. Synchrony Financial’s dividend payout ratio is 13.89%.

Insider Buying and Selling

In other news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bart Schaller sold 930 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the transaction, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

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.