The Synchrony Financial to Post Q3 2016 Earnings of $0.66 Per Share, Wedbush Forecasts (SYF)

The Synchrony Financial to Post Q3 2016 Earnings of $0.66 Per Share, Wedbush Forecasts (SYF)

Synchrony Financial (NYSE:SYF) – Analysts at Wedbush issued their Q3 2016 EPS estimates for shares of Synchrony Financial in a report issued on Monday. Wedbush analyst H. Coffey anticipates that the brokerage will post earnings of $0.66 per share for the quarter. Wedbush has a “Outperform” rating and a $31.00 price objective on the stock. Wedbush also issued estimates for Synchrony Financial’s Q4 2016 earnings at $0.68 EPS, FY2016 earnings at $2.63 EPS, Q1 2017 earnings at $0.76 EPS, Q2 2017 earnings at $0.68 EPS, Q3 2017 earnings at $0.73 EPS, Q4 2017 earnings at $0.78 EPS, FY2017 earnings at $2.95 EPS and FY2018 earnings at $3.24 EPS.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. Synchrony Financial had a return on equity of 16.97% and a net margin of 15.63%. During the same period in the prior year, the firm earned $0.65 earnings per share.

A number of other brokerages also recently commented on SYF. BTIG Research reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Synchrony Financial in a research report on Monday, July 25th. Barclays PLC reiterated an “overweight” rating and issued a $41.00 target price on shares of Synchrony Financial in a report on Friday, July 15th. Zacks Investment Research cut Synchrony Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Bank of America Corp. reiterated a “neutral” rating and issued a $30.00 target price (up previously from $28.00) on shares of Synchrony Financial in a report on Tuesday, July 26th. Finally, Credit Suisse Group AG set a $37.00 target price on Synchrony Financial and gave the company a “buy” rating in a report on Thursday, September 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $39.87.

Shares of Synchrony Financial (NYSE:SYF) opened at 26.37 on Thursday. Synchrony Financial has a one year low of $23.25 and a one year high of $34.60. The firm has a market cap of $21.99 billion, a P/E ratio of 10.06 and a beta of 0.92. The firm has a 50-day moving average price of $27.23 and a 200 day moving average price of $28.21.

A number of hedge funds have recently made changes to their positions in SYF. D Orazio & Associates Inc. raised its stake in shares of Synchrony Financial by 75.0% in the second quarter. D Orazio & Associates Inc. now owns 4,200 shares of the company’s stock valued at $106,000 after buying an additional 1,800 shares in the last quarter. Societe Generale bought a new position in Synchrony Financial during the second quarter valued at approximately $118,000. Daiwa SB Investments Ltd. raised its position in Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock valued at $130,000 after buying an additional 410 shares during the period. Euclid Advisors LLC bought a new position in Synchrony Financial during the second quarter valued at approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Synchrony Financial by 58.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,688 shares of the company’s stock valued at $144,000 after buying an additional 2,090 shares during the period. 88.05% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Company Profile

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