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

Synchrony Financial (NYSE:SYF) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 8.450-8.550 for the period, compared to the consensus EPS estimate of 7.710. The company issued revenue guidance of -.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $56.53 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $22.34 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The company has a 50-day simple moving average of $49.02 and a 200-day simple moving average of $46.43. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $56.59.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the previous year, the company earned $1.32 EPS. On average, equities analysts anticipate that Synchrony Financial will post 5.81 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 1.77%. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.89%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SYF. BTIG Research downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Synchrony Financial in a research report on Monday. Wells Fargo & Company lifted their price target on shares of Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Robert W. Baird began coverage on shares of Synchrony Financial in a research report on Friday, June 28th. They set an “outperform” rating and a $56.00 price target on the stock. Finally, Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Insiders Place Their Bets

In other news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the sale, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.