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

Synchrony Financial (NYSE:SYF) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 7.600-7.800 for the period, compared to the consensus estimate of 7.250. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of Synchrony Financial from $40.00 to $41.00 and gave the stock a market perform rating in a research note on Thursday, April 25th. TD Cowen increased their price target on shares of Synchrony Financial from $49.00 to $51.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Wells Fargo & Company increased their price target on shares of Synchrony Financial from $45.00 to $49.00 and gave the stock an equal weight rating in a research note on Tuesday, July 9th. StockNews.com upgraded shares of Synchrony Financial from a hold rating to a buy rating in a research note on Friday, July 12th. Finally, Compass Point began coverage on shares of Synchrony Financial in a research note on Tuesday. They issued a buy rating and a $56.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $47.61.

Synchrony Financial Price Performance

NYSE:SYF opened at $51.00 on Wednesday. The company has a 50-day moving average of $45.07 and a 200-day moving average of $42.20. The company has a market capitalization of $20.48 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 1.18 and a beta of 1.63. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $51.94. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter in the prior year, the business posted $1.32 earnings per share. As a group, equities research analysts anticipate that Synchrony Financial will post 5.7 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, May 3rd. Synchrony Financial’s payout ratio is 14.35%.

Synchrony Financial declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 5.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 31,562 shares of Synchrony Financial stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the completion of the transaction, the insider now directly owns 121,042 shares of the company’s stock, valued at approximately $5,446,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

About Synchrony Financial

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.