Synchrony Financial (SYF) Releases Earnings Results, Beats Expectations By $0.04 EPS

Synchrony Financial (SYF) reported quarterly earnings results on Friday, Jul-22-2016. The company said it had a profit of $0.58 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.54. Analysts expectations of $2622.20 million. During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on Synchrony Financial. Shares were Reiterated by Jefferies on Jun 15, 2016 to “Buy” and Lowered the Price Target to $ 35 from a previous price target of $42 .Synchrony Financial was Initiated by Macquarie to “Neutral” on May 11, 2016. Company shares were Reiterated by Deutsche Bank on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $34 .

Synchrony Financial closed down -0.11 points or -0.39% at $28.14 with 89,41,785 shares getting traded on Wednesday. Post opening the session at $28.49, the shares hit an intraday low of $28 and an intraday high of $28.58 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Investors should note that on Jul 7, 2016, Synchrony Financial announced a cash dividend of $0.1300. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Aug 25, 2016.

In a different news, on May 26, 2016, Brian D Doubles (officer ) sold 1,000 shares at $30.00 per share price. According to the SEC, on May 26, 2016, Margaret M Keane (director officer ) sold 1,000 shares at $30.00 per share price. On Nov 19, 2015, Daniel O Colao (director) purchased 2,107 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Synchrony Financial (Synchrony) is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of 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. The Company offers two types of credit cards: private label credit cards and Dual Cards. It offers its credit products through its wholly owned subsidiary Synchrony Bank (the Bank). Through the Bank it offers a range of deposit products insured by the Federal Deposit Insurance Corporation (FDIC) including certificates of deposit individual retirement accounts (IRAs) money market accounts and savings accounts under its Optimizer+Plus brand.

Synchrony Financial

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