Zacks: Brokerages Anticipate Synchrony Financial (NYSE:SYF) Will Announce Quarterly Sales of $4.21 Billion

Wall Street brokerages expect Synchrony Financial (NYSE:SYF) to post sales of $4.21 billion for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Synchrony Financial’s earnings, with estimates ranging from $4.16 billion to $4.24 billion. Synchrony Financial posted sales of $3.74 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. The company is scheduled to report its next earnings report on Friday, July 26th.

According to Zacks, analysts expect that Synchrony Financial will report full-year sales of $16.88 billion for the current financial year, with estimates ranging from $16.73 billion to $16.98 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $16.58 billion, with estimates ranging from $16.03 billion to $17.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Synchrony Financial.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.29 billion. Synchrony Financial had a return on equity of 19.79% and a net margin of 17.52%. During the same quarter in the previous year, the business earned $0.83 earnings per share.

A number of analysts recently issued reports on the company. Nomura boosted their price target on Synchrony Financial from $35.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price target on shares of Synchrony Financial in a report on Friday, May 3rd. ValuEngine upgraded Synchrony Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Morgan Stanley boosted their price target on Synchrony Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Finally, Zacks Investment Research lowered Synchrony Financial from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Synchrony Financial has an average rating of “Buy” and a consensus price target of $37.47.

In other news, insider David P. Melito sold 3,204 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $34.00, for a total transaction of $108,936.00. Following the transaction, the insider now directly owns 29,476 shares of the company’s stock, valued at $1,002,184. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David P. Melito sold 6,014 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $34.25, for a total value of $205,979.50. Following the transaction, the insider now directly owns 29,476 shares in the company, valued at $1,009,553. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Wilsey Asset Management Inc. boosted its holdings in Synchrony Financial by 9.1% in the first quarter. Wilsey Asset Management Inc. now owns 417,539 shares of the financial services provider’s stock valued at $13,392,000 after purchasing an additional 34,936 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in Synchrony Financial in the fourth quarter valued at $675,000. Norges Bank purchased a new stake in Synchrony Financial in the fourth quarter valued at $168,722,000. Piedmont Investment Advisors Inc. boosted its holdings in Synchrony Financial by 0.6% in the first quarter. Piedmont Investment Advisors Inc. now owns 113,612 shares of the financial services provider’s stock valued at $3,624,000 after purchasing an additional 623 shares during the last quarter. Finally, Kinneret Advisory LLC purchased a new stake in Synchrony Financial in the fourth quarter valued at $88,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE SYF traded up $0.24 during trading hours on Wednesday, reaching $34.19. The stock had a trading volume of 56,890 shares, compared to its average volume of 6,514,970. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 1.49. The firm has a market cap of $23.40 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23. The company has a fifty day moving average price of $34.36. Synchrony Financial has a 52-week low of $21.77 and a 52-week high of $35.50.

About Synchrony Financial

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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

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