Oppenheimer Brokers Boost Earnings Estimates for Synchrony Financial (NYSE:SYF)

Synchrony Financial (NYSE:SYFGet Rating) – Analysts at Oppenheimer boosted their Q1 2023 EPS estimates for shares of Synchrony Financial in a research report issued to clients and investors on Monday, January 23rd. Oppenheimer analyst D. Gabriele now forecasts that the financial services provider will post earnings of $1.74 per share for the quarter, up from their previous forecast of $1.60. The consensus estimate for Synchrony Financial’s current full-year earnings is $5.02 per share. Oppenheimer also issued estimates for Synchrony Financial’s Q2 2023 earnings at $1.18 EPS and FY2023 earnings at $4.89 EPS.

A number of other research analysts have also issued reports on SYF. Morgan Stanley upped their target price on shares of Synchrony Financial from $29.00 to $31.00 and gave the company an “underweight” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Synchrony Financial from $39.00 to $36.00 in a report on Tuesday, January 10th. TheStreet upgraded shares of Synchrony Financial from a “c+” rating to a “b-” rating in a report on Tuesday, November 1st. JMP Securities upped their price objective on shares of Synchrony Financial from $39.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday. Finally, Citigroup upped their price target on shares of Synchrony Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Synchrony Financial currently has an average rating of “Hold” and a consensus price target of $39.27.

Synchrony Financial Price Performance

NYSE:SYF opened at $35.37 on Wednesday. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 0.98 and a beta of 1.61. The company has a current ratio of 1.20, a quick ratio of 1.21 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average is $34.25 and its two-hundred day moving average is $33.43. Synchrony Financial has a 12-month low of $27.22 and a 12-month high of $47.05.

Synchrony Financial (NYSE:SYFGet Rating) last released its quarterly earnings data on Monday, January 23rd. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.12 by $0.14. Synchrony Financial had a net margin of 17.51% and a return on equity of 24.07%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the firm earned $1.48 EPS.

Institutional Investors Weigh In On Synchrony Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Synchrony Financial by 5.2% in the second quarter. Goldman Sachs Group Inc. now owns 8,547,277 shares of the financial services provider’s stock worth $236,077,000 after buying an additional 423,606 shares during the period. Par Capital Management Inc. increased its position in Synchrony Financial by 1.9% in the third quarter. Par Capital Management Inc. now owns 8,150,000 shares of the financial services provider’s stock worth $229,749,000 after buying an additional 150,000 shares during the period. Dimensional Fund Advisors LP increased its position in Synchrony Financial by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 7,202,958 shares of the financial services provider’s stock worth $203,106,000 after buying an additional 184,290 shares during the period. First Trust Advisors LP increased its position in Synchrony Financial by 853.5% in the first quarter. First Trust Advisors LP now owns 6,218,641 shares of the financial services provider’s stock worth $216,471,000 after buying an additional 5,566,481 shares during the period. Finally, Millennium Management LLC increased its position in Synchrony Financial by 52.5% in the second quarter. Millennium Management LLC now owns 4,078,589 shares of the financial services provider’s stock worth $112,651,000 after buying an additional 1,404,388 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Carol Juel sold 31,303 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $40.00, for a total transaction of $1,252,120.00. Following the completion of the transaction, the insider now directly owns 55,929 shares in the company, valued at approximately $2,237,160. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Margaret M. Keane sold 68,369 shares of the company’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $36.50, for a total transaction of $2,495,468.50. Following the sale, the insider now directly owns 762,786 shares of the company’s stock, valued at approximately $27,841,689. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Carol Juel sold 31,303 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $40.00, for a total value of $1,252,120.00. Following the sale, the insider now directly owns 55,929 shares in the company, valued at $2,237,160. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

About Synchrony Financial

(Get Rating)

Synchrony Financial engages in the provision of consumer financial services. It operates through three sales platforms: Retail Card, Payment Solutions, and CareCredit. The Retail Card platform is a provider of private label credit cards, and also provides Dual Cards and small-and medium-sized business credit products.

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Earnings History and Estimates for Synchrony Financial (NYSE:SYF)

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