Synchrony Financial (NYSE:SYF) hits fresh 12-month low after analyst downgrade


Synchrony Financial (NYSE:SYF – Get Rating) shares hit a fresh 52-week low on Thursday after Piper Sandler cut her price target on the stock to $42.00 from $49.00. Piper Sandler is currently overweight the stock. Synchrony Financial was trading at just $27.22 and last at $27.33 with volume of 40356 shares. The stock had previously closed at $28.53.

SYF has been the subject of a number of other research reports. Wolfe Research downgraded Synchrony Financial from a peer perform rating to an underperform rating and set a price target of $22.00 for the company. in a research report on Thursday, May 12. Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equiweight” rating in a report Monday, March 28, and lowered its price target on the company to $40.00 from $56.00. Wells Fargo & Company lowered its price target on Synchrony Financial to $45.00 from $52.00 and gave the company a rating in a report on Wednesday, May 6. BMO Capital Markets increased its price target on Synchrony Financial to 52 from $49.00, USD 00 and gave the stock a “Outperform” rating in a report dated Tuesday, April 19th. Finally, raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Monday, June 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial currently has a consensus rating of Moderate Buy and an average target price of $50.61.


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A number of institutional investors and hedge funds have recently changed their positions in the business. Rehmann Capital Advisory Group increased its stake in Synchrony Financial by 13.2% in the first quarter. Rehmann Capital Advisory Group now owns 7,347 shares of the financial services firm, valued at $254,000, after purchasing an additional 857 shares during the period. EverSource Wealth Advisors LLC increased its holding in Synchrony Financial by 1,769.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,757 shares of the financial services provider, valued at $61,000, after purchasing an additional 1,663 shares during the period. Advisory Services Network LLC increased its position in shares of Synchrony Financial by 357.2% during the first quarter. Advisory Services Network LLC now owns 23,543 shares of the financial services provider, valued at $819,000, after purchasing an additional 18,394 shares last quarter. Toroso Investments LLC increased its position in shares of Synchrony Financial by 12.3% in the first quarter. Toroso Investments LLC now owns 16,010 shares of the financial services provider, valued at $557,000, after purchasing an additional 1,752 shares last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in Synchrony Financial stock worth about $215,000 during Q1. 98.26% of the shares are currently owned by hedge funds and other institutional investors.

The company has a 50-day moving average price of $34.14 and a 200-day moving average price of $39.21. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt to equity ratio of 1.05. The stock has a market cap of $13.76 billion, a price-to-earnings ratio of 3.87, a price-to-earnings-to-growth ratio of 0.23, and a beta of 1.43.

Synchrony Financial (NYSE:SYF – Get Rating) last issued its quarterly earnings data on Monday, April 18th. The financial services firm reported earnings per share of $1.73 for the quarter, beating the consensus estimate of $1.53 by $0.20. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. The company had revenue of $3.79 billion in the quarter, compared to analyst estimates of $2.66 billion. In the same period last year, the company posted $1.73 per share. Research analysts are forecasting that Synchrony Financial will report year-to-date earnings per share of 5.63.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Registered investors received a dividend of $0.22 on Monday, May 2nd. That equates to a dividend of $0.88 on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Friday April 29th. Synchrony Financial’s RTP is 11.94%.

Synchrony Financial announced that on Monday, April 18, its board of directors approved a stock repurchase plan that will allow the company to repurchase $2.80 billion of stock. This buyback authorization allows the financial services provider to buy back up to 13.6% of its shares through purchases on the open market. Stock buyback plans are often a sign that the company’s board believes its stock is undervalued.

Synchrony Financial company profile (NYSE:SYF)

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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