Synchrony Financial (NYSE:SYF) Cut to “Sell” at ValuEngine

ValuEngine lowered shares of Synchrony Financial (NYSE:SYF) from a hold rating to a sell rating in a research report released on Thursday, ValuEngine reports.

SYF has been the subject of a number of other reports. BMO Capital Markets set a $43.00 price objective on shares of Synchrony Financial and gave the stock a buy rating in a report on Sunday, July 21st. BTIG Research reaffirmed a buy rating and set a $42.00 price objective on shares of Synchrony Financial in a report on Monday, July 22nd. Royal Bank of Canada reaffirmed an outperform rating and set a $39.00 price objective on shares of Synchrony Financial in a report on Friday, May 3rd. Buckingham Research started coverage on shares of Synchrony Financial in a report on Monday, July 22nd. They set a buy rating and a $42.00 price objective for the company. Finally, Nomura raised their price objective on shares of Synchrony Financial from $35.00 to $39.00 and gave the stock a buy rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $38.43.

Shares of NYSE:SYF traded down $0.24 during midday trading on Thursday, reaching $35.06. 3,508,590 shares of the company’s stock were exchanged, compared to its average volume of 4,201,645. The business has a 50 day moving average price of $35.27. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 0.82 and a beta of 1.19. Synchrony Financial has a 12 month low of $21.77 and a 12 month high of $36.87. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.36 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.19 billion. Synchrony Financial had a net margin of 17.82% and a return on equity of 19.50%. During the same period last year, the firm earned $0.92 EPS. As a group, equities research analysts expect that Synchrony Financial will post 4.21 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be issued a dividend of $0.22 per share. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, August 2nd. Synchrony Financial’s dividend payout ratio (DPR) is currently 22.46%.

In related news, insider David P. Melito sold 3,204 shares of Synchrony Financial stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $115,344.00. Following the completion of the transaction, the insider now directly owns 23,567 shares of the company’s stock, valued at approximately $848,412. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Margaret M. Keane sold 125,000 shares of Synchrony Financial stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $33.82, for a total transaction of $4,227,500.00. Following the transaction, the insider now directly owns 648,901 shares of the company’s stock, valued at $21,945,831.82. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Markel Corp grew its position in shares of Synchrony Financial by 31.9% during the 2nd quarter. Markel Corp now owns 10,556 shares of the financial services provider’s stock worth $366,000 after buying an additional 2,550 shares during the period. Comerica Bank grew its position in shares of Synchrony Financial by 7.7% during the 2nd quarter. Comerica Bank now owns 138,987 shares of the financial services provider’s stock worth $4,940,000 after buying an additional 9,932 shares during the period. Columbus Circle Investors grew its position in shares of Synchrony Financial by 25.9% during the 2nd quarter. Columbus Circle Investors now owns 453,012 shares of the financial services provider’s stock worth $15,706,000 after buying an additional 93,290 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Synchrony Financial during the 2nd quarter worth approximately $82,000. Finally, Executive Wealth Management LLC acquired a new stake in shares of Synchrony Financial during the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.

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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Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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