Q2 2023 EPS Estimates for Synchrony Financial Lowered by Jefferies Financial Group (NYSE:SYF)

Posted by Defense World Staff on Apr 24th, 2023

Synchrony Financial (NYSE:SYF – Get Rating) – Research analysts at Jefferies Financial Group cut their Q2 2023 earnings per share (EPS) estimates for shares of Synchrony Financial in a research report issued to clients and investors on Wednesday, April 19th. Jefferies Financial Group analyst J. Hecht now forecasts that the financial services provider will post earnings of $1.13 per share for the quarter, down from their prior estimate of $1.23. The consensus estimate for Synchrony Financial’s current full-year earnings is $4.89 per share. Jefferies Financial Group also issued estimates for Synchrony Financial’s FY2023 earnings at $5.02 EPS, Q1 2024 earnings at $1.50 EPS, Q2 2024 earnings at $1.30 EPS, Q3 2024 earnings at $1.20 EPS, Q4 2024 earnings at $1.41 EPS and FY2024 earnings at $5.41 EPS.

Other equities research analysts have also recently issued reports about the company. Citigroup decreased their price target on Synchrony Financial from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th. The Goldman Sachs Group reduced their price target on Synchrony Financial from $41.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 5th. Wells Fargo & Company lowered their price target on shares of Synchrony Financial from $37.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, March 31st. Keefe, Bruyette & Woods lowered shares of Synchrony Financial from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $46.00 to $32.00 in a research note on Thursday, March 16th. Finally, StockNews.com began coverage on shares of Synchrony Financial in a report on Thursday, March 16th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.56.

Synchrony Financial Trading Down 0.5 %

Shares of SYF stock opened at $29.72 on Monday. The stock has a market capitalization of $12.73 billion, a PE ratio of 5.23, a P/E/G ratio of 1.41 and a beta of 1.58. Synchrony Financial has a 1-year low of $27.15 and a 1-year high of $40.88. The business has a 50-day moving average of $31.67 and a 200 day moving average of $33.53. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.22 and a quick ratio of 1.20.

Synchrony Financial (NYSE:SYF – Get Rating) last released its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Synchrony Financial had a net margin of 14.93% and a return on equity of 21.68%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Tuesday, May 2nd will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Monday, May 1st. Synchrony Financial’s dividend payout ratio is 16.20%.

Insiders Place Their Bets

In related news, insider Alberto Casellas sold 39,460 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $36.14, for a total value of $1,426,084.40. Following the completion of the sale, the insider now owns 70,040 shares of the company’s stock, valued at $2,531,245.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Alberto Casellas sold 39,460 shares of Synchrony Financial stock in a transaction on Monday, February 27th. The shares were sold at an average price of $36.14, for a total transaction of $1,426,084.40. Following the transaction, the insider now directly owns 70,040 shares of the company’s stock, valued at $2,531,245.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bart Schaller sold 11,071 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $36.25, for a total transaction of $401,323.75. Following the completion of the sale, the insider now directly owns 71,664 shares in the company, valued at $2,597,820. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of Synchrony Financial

Several large investors have recently made changes to their positions in SYF. Live Oak Investment Partners purchased a new position in Synchrony Financial during the fourth quarter worth about $27,000. TCI Wealth Advisors Inc. boosted its stake in shares of Synchrony Financial by 41.9% in the 4th quarter. TCI Wealth Advisors Inc. now owns 935 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 276 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Synchrony Financial by 231.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 948 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 662 shares in the last quarter. Cowa LLC purchased a new stake in Synchrony Financial during the 3rd quarter valued at $28,000. Finally, Covestor Ltd lifted its position in shares of Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 644 shares during the period. Institutional investors and hedge funds own 95.97% of the company’s stock.

About Synchrony Financial

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Synchrony Financial engages in the provision of consumer financial services. The firm is also involved in managing credit products through the following sales platforms: Home and Auto, Digital, Diversified and Value, Health and Wellness, and Lifestyle. The company was founded on September 12, 2003 and is headquartered in Stamford, CT.

Earnings History and Estimates for Synchrony Financial (NYSE:SYF)

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