Synchrony Financial (NYSE:SYF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, March 6th.
According to Zacks, “Synchrony Financial’s shares have outperformed the industry in the last six months. The company is well positioned for long-term growth on the back of consistent increase in revenues driven by its rapidly rising interest income and inorganic growth strategies. Moreover, its CareCredit platform continued to perform well over past many quarters. The company's fourth-quarter 2017 earnings surpassed the Zacks Consensus Estimate but remained flat year over year. The company has seen its Zacks Consensus Estimate for 2018 earnings being revised upward in the past 60 days. However, the company has been witnessing a steep rise in its expenses since 2013 that has been weighing on its bottom line. It also suffers from increasing allowance for loan losses that has been rising due to the rapid growth in its loan portfolio.”
Several other analysts also recently weighed in on SYF. Barclays set a $53.00 target price on Synchrony Financial and gave the company a “buy” rating in a research note on Monday, January 22nd. Jefferies Group reiterated a “buy” rating and set a $44.00 price target on shares of Synchrony Financial in a research report on Tuesday, December 26th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating in a report on Monday, December 18th. BTIG Research restated a “buy” rating and issued a $44.00 target price on shares of Synchrony Financial in a report on Sunday, December 17th. Finally, Wedbush set a $41.00 price target on Synchrony Financial and gave the company a “hold” rating in a report on Monday, December 11th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Synchrony Financial has an average rating of “Buy” and a consensus target price of $38.32.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, January 19th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. Synchrony Financial had a return on equity of 14.62% and a net margin of 11.75%. During the same quarter last year, the business posted $0.70 EPS. research analysts expect that Synchrony Financial will post 3.38 EPS for the current fiscal year.
In other news, insider Thomas M. Quindlen sold 10,712 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $36.73, for a total transaction of $393,451.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Margaret M. Keane sold 13,138 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $36.70, for a total transaction of $482,164.60. Following the transaction, the insider now owns 440,169 shares of the company’s stock, valued at $16,154,202.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,850 shares of company stock valued at $955,616. 0.03% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Flossbach Von Storch AG acquired a new stake in Synchrony Financial during the fourth quarter worth approximately $202,000. TRUE Private Wealth Advisors bought a new position in shares of Synchrony Financial during the fourth quarter worth approximately $204,000. MML Investors Services LLC bought a new position in shares of Synchrony Financial during the fourth quarter worth approximately $217,000. Raymond James Trust N.A. bought a new position in shares of Synchrony Financial during the fourth quarter worth approximately $218,000. Finally, Capital Asset Advisory Services LLC bought a new position in Synchrony Financial in the fourth quarter valued at approximately $219,000. Institutional investors and hedge funds own 88.65% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Synchrony Financial (SYF) Downgraded to “Hold” at Zacks Investment Research” was first posted by BBNS and is owned by of BBNS. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://baseballnewssource.com/2018/03/16/synchrony-financial-syf-downgraded-by-zacks-investment-research-to-hold-2/1989382.html.
About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.