Synchrony Financial (NYSE: SYF – Get a rating) had its target price lowered by Credit Suisse Group to $38.00 in a research report released Thursday to clients and investors, Target Stock 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 published reports on SYF. Citigroup cut its price target on Synchrony Financial shares from $50.00 to $42.00 and set a “buy” rating on the stock in a report Thursday. Barclays lowered its price target on Synchrony Financial shares from $49.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com launched a hedge on Synchrony Financial shares in a report on Wednesday. They issued a “buy” rating for the company. Morgan Stanley lowered its price target on Synchrony Financial shares from $32.00 to $31.00 and set an “equal weight” rating for the company in a Wednesday, Oct. 5 research note. Finally, Piper Sandler cut her price target on Synchrony Financial from $41.00 to $40.00 and set an “overweight” rating on the stock in a Monday, September 26 research note. One research analyst rated the stock with a sell rating, four gave the company a hold rating and nine gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.60.
Synchrony Financial Trading up 3.5%
NYSE:SYF traded $1.08 on Thursday, hitting $32.37. The stock recorded a trading volume of 165,978 shares, compared to an average volume of 5,795,915 shares. The company has a fifty-day moving average price of $32.45 and a two-hundred-day moving average price of $33.38. Synchrony Financial has a 1-year minimum of $27.22 and a 1-year maximum of $52.49. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt ratio of 0.96. The stock has a market capitalization of $15.59 billion, a price/earnings ratio of 4.71, a PEG ratio of 0.76 and a beta of 1.55.
Synchrony Financial (NYSE: SYF – Get a rating) last released its quarterly earnings data on Monday, July 18. The financial services provider reported EPS of $1.60 for the quarter, beating consensus analyst estimates of $1.43 by $0.17. The company posted revenue of $3.80 billion for the quarter, versus $2.74 billion expected by analysts. Synchrony Financial had a return on equity of 27.06% and a net margin of 22.76%. In the same period a year earlier, the company posted earnings per share of $2.12. Equity research analysts expect Synchrony Financial to post earnings per share of 5.82 for the current fiscal year.
Hedge funds weigh on Synchrony Financial
A number of large investors have recently changed their positions in the company. BlackRock Inc. increased its stake in Synchrony Financial shares by 2.4% in the first quarter. BlackRock Inc. now owns 47,846,561 shares of the financial services provider worth $1,665,537,000 after purchasing an additional 1,102,772 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Synchrony Financial shares by 5.2% during the second quarter. Goldman Sachs Group Inc. now owns 8,547,277 shares of the financial services provider worth $236,077,000 after buying an additional 423,606 shares last quarter. Dimensional Fund Advisors LP increased its stake in Synchrony Financial shares 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 acquiring an additional 470,937 shares in the last quarter. First Trust Advisors LP increased its stake 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 worth $216,471,000 after buying an additional 5,566,481 shares in the last quarter. Finally, CI Investments Inc. increased its position in Synchrony Financial by 37.6% during the 1st quarter. CI Investments Inc. now owns 5,983,370 shares of the financial services provider worth $208,281,000 after purchasing an additional 1,635,166 shares in the last quarter. Institutional investors and hedge funds hold 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 provides credit products, such as credit cards, commercial credit products and consumer installment loans. The company also offers private label credit cards, dual cards, 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 retail and commercial customers, as well as deposits through brokerage firms in third-party securities.
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