BTIG Research Reaffirms “Buy” Rating for Synchrony Financial (SYF)

Synchrony Financial (NYSE:SYF)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a research note issued on Sunday. They presently have a $44.00 price target on the financial services provider’s stock. BTIG Research’s price objective would indicate a potential upside of 18.31% from the company’s previous close.

The analysts wrote, “Capital Return, Potential Tax Cut Boost = Upside We are reiterating our Buy recommendation on Synchrony Financial (SYF) while raising our price target to $44 from $36 based on 12x our FY19E earnings per share of $3.70. We believe SYF offers investors an attractive story featuring loan growth and capital return that position it to expand both EPS and ROE, and that the company’s enhanced partnership with PayPal (PYPL, Buy, $81 PT) offered the latest demonstration of its capabilities and capacity versus its card-issuing peers. We also view SYF as well positioned to benefit from the growth of eCommerce given its partnerships with PYPL, Amazon (AMZN, Not Rated) and others and its ability to extend its online and mobile capabilities to traditional retail partners.””

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $39.00 price objective on shares of Synchrony Financial in a report on Thursday, October 12th. BMO Capital Markets reiterated a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a report on Friday, August 25th. Jefferies Group reiterated a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a report on Thursday, September 21st. Barclays set a $40.00 price objective on Synchrony Financial and gave the company a “buy” rating in a report on Monday, October 23rd. Finally, Morgan Stanley increased their price objective on Synchrony Financial from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Synchrony Financial currently has an average rating of “Buy” and an average price target of $38.30.

Shares of Synchrony Financial (SYF) traded up $0.20 during midday trading on Friday, reaching $37.19. The company’s stock had a trading volume of 8,880,000 shares, compared to its average volume of 7,339,715. Synchrony Financial has a 1-year low of $26.01 and a 1-year high of $38.06. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $29,104.59, a PE ratio of 14.19, a PEG ratio of 1.88 and a beta of 1.06.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business posted $0.73 EPS. analysts forecast that Synchrony Financial will post 2.59 EPS for the current year.

In other Synchrony Financial news, insider David P. Melito sold 1,881 shares of Synchrony Financial stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $38.00, for a total transaction of $71,478.00. Following the completion of the transaction, the insider now owns 43,140 shares in the company, valued at approximately $1,639,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Mothner sold 1,500 shares of Synchrony Financial stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $32.82, for a total value of $49,230.00. Following the transaction, the insider now owns 113,934 shares of the company’s stock, valued at approximately $3,739,313.88. The disclosure for this sale can be found here. Insiders sold a total of 6,961 shares of company stock valued at $244,508 in the last 90 days. 0.03% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYF. Berkshire Hathaway Inc. purchased a new position in shares of Synchrony Financial during the 2nd quarter valued at about $520,747,000. Janus Henderson Group PLC raised its stake in shares of Synchrony Financial by 1,820.5% during the 2nd quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock valued at $326,070,000 after buying an additional 10,365,219 shares during the last quarter. FMR LLC grew its position in shares of Synchrony Financial by 27.1% during the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after acquiring an additional 7,874,689 shares during the period. Capital World Investors acquired a new stake in shares of Synchrony Financial during the 2nd quarter valued at about $202,269,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Synchrony Financial by 2,777.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,109,742 shares of the financial services provider’s stock valued at $128,144,000 after acquiring an additional 3,966,900 shares during the period. Institutional investors and hedge funds own 85.77% of the company’s stock.

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Synchrony Financial Company Profile

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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