Synchrony Financial (NYSE:SYF – Get Valuation) The target price was cut to $38.00 by Credit Suisse Group in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. Credit Suisse Group’s price target would suggest a potential upside of 17.39% from the company’s current price.
Several other analysts have also issued reports on SYF. Citigroup lowered its target price on shares of Synchrony Financial from $50.00 to $42.00 and rated the stock a “buy” in a report on Thursday. Barclays cut its target price on shares of Synchrony Financial from $49.00 to $41.00 and rated the stock an “overweight” in a report Thursday. StockNews.com began coverage of Synchrony Financial shares in a report Wednesday. They gave the company a buy rating. Morgan Stanley lowered its target price on Synchrony Financial shares to $31.00 from $32.00 and issued a research note on Wednesday, October 5, categorizing the company as “equal weight”. Finally, Piper Sandler lowered her target price on Synchrony Financial to $40.00 from $41.00 and gave the stock an “overweight” rating in a research note on Monday, September 26th. One research analyst has rated the stock with a sell rating, four with a hold rating and nine with a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.60.
Synchrony Financial Trading up 3.5%
NYSE:SYF rose $1.08 on Thursday to hit $32.37. The stock had a trading volume of 165,978 shares compared to an average volume of 5,795,915. The company has a 50-day moving average price of $32.45 and a 200-day moving average price of $33.38. Synchrony Financial has a 1 year low of $27.22 and a 1 year high of $52.49. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt to equity ratio of 0.96. The stock has a market cap of $15.59 billion, a price-to-earnings ratio of 4.71, a PEG ratio of 0.76, and a beta of 1.55.
Synchrony Financial (NYSE:SYF – Get Rating) last issued its quarterly earnings data on Monday, July 18th. The financial services firm reported $1.60 EPS for the quarter, beating analysts’ consensus estimate of $1.43 by $0.17. The company made $3.80 billion in revenue for the quarter, compared to analysts’ expectations of $2.74 billion. Synchrony Financial had a return on equity of 27.06% and a net margin of 22.76%. For the same period last year, the company posted earnings per share of $2.12. Equities analysts expect Synchrony Financial to report earnings per share of 5.82 for the current fiscal year.
Hedge funds rely on Synchrony Financial
A number of major investors have recently changed their positions in the business. BlackRock Inc. increased its stake in Synchrony Financial by 2.4% in the first quarter. BlackRock Inc. now owns 47,846,561 shares of the financial services provider valued at $1,665,537,000 after purchasing an additional 1,102,772 shares last quarter. Goldman Sachs Group Inc. increased its position in shares of Synchrony Financial by 5.2% in the second quarter. Goldman Sachs Group Inc. now owns 8,547,277 shares of the financial services provider, valued at $236,077,000, after purchasing an additional 423,606 shares last quarter. Dimensional Fund Advisors LP increased its stake in Synchrony Financial by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,971,125 shares of the financial services provider valued at $242,720,000 after purchasing an additional 470,937 shares last quarter. First Trust Advisors LP increased its holding in Synchrony Financial by 853.5% during the first quarter. First Trust Advisors LP now owns 6,218,641 shares of the financial services firm valued at $216,471,000 after purchasing an additional 5,566,481 shares last quarter. Finally, CI Investments Inc. increased its position in Synchrony Financial by 37.6% during the first quarter. CI Investments Inc. now owns 5,983,370 shares of the financial services provider valued at $208,281,000 after purchasing an additional 1,635,166 shares last quarter. Institutional investors and hedge funds own 94.12% of the company’s shares.
Synchrony Financial company profile
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It offers lending products such as credit cards, commercial lending products and consumer installment loans. The Company also offers private label credit cards, dual card, co-branded 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 for both retail and commercial customers, and accepts deposits through third-party securities brokerage firms.
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