Synchrony Financial (NYSE: SYF) announced a quarterly dividend on Thursday, April 22, RTT News reports. Shareholders of record on Monday May 3 will receive a dividend of 0.22 per share from the financial services provider on Thursday May 13. This represents an annualized dividend of $ 0.88 and a return of 2.05%. The ex-dividend date is Friday April 30.
Synchrony Financial has increased its dividend payment by 57.1% over the past three years and has increased its dividend each year for the past 1 year. Synchrony Financial has a dividend payout ratio of 17.6%, which indicates that its dividend is sufficiently covered by earnings. Analysts expect Synchrony Financial to earn $ 3.54 per share next year, which means the company should continue to be able to cover its annual dividend of $ 0.88 with a future payout ratio. forecast of 24.9%.
NYSE Shares: SYF opened at $ 43.03 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.21, and a debt ratio of 1.39. Synchrony Financial has a one-year minimum of $ 15.17 and a one-year maximum of $ 43.61. The company has a fifty-day moving average price of $ 41.42 and a 200-day moving average price of $ 35.49. The stock has a market cap of $ 25.02 billion, a PE ratio of 19.74, a P / E / G ratio of 1.92, and a beta of 1.79.
Synchrony Financial (NYSE: SYF) last released its quarterly results on Tuesday, April 27. The financial services provider reported EPS of $ 1.73 for the quarter, beating the Thomson Reuters consensus estimate of $ 1.50 by $ 0.23. Synchrony Financial had a net margin of 8.16% and a return on equity of 12.73%. In the same quarter of the previous year, the company achieved EPS of $ 0.58. On average, business analysts predict that Synchrony Financial will post 2.47 earnings per share for the current fiscal year.
Synchrony Financial announced that its board of directors on Tuesday January 26 approved a share buyback program that authorizes the company to repurchase $ 1.60 billion of outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 8% of its shares through open market purchases. Share buyback programs typically indicate that company management believes its shares are undervalued.
A number of equity research analysts have recently commented on SYF’s shares. JPMorgan Chase & Co. lowered its price target on Synchrony Financial shares from $ 49.00 to $ 48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 15. They noted that the move was an appraisal call. Oppenheimer reissued a “market performance” rating on Synchrony Financial shares in a research report on Tuesday, April 20. JMP Securities raised its price target for Synchrony Financial shares from $ 36.00 to $ 43.00 and gave the company an “outperformance” rating in a research report on Tuesday, January 26. Morgan Stanley raised its price target for Synchrony Financial shares from $ 54.00 to $ 55.00 and rated the stock “overweight” in a report on Wednesday. Finally, TheStreet upgraded Synchrony Financial shares from a “c +” rating to a “b” rating in a research report on Friday, February 12. Three research analysts rated the stock with a sustaining rating and eleven gave the stock a buy rating. The company currently has an average rating of “Buy” and an average price target of $ 41.43.
Separately, insider David P. Melito sold 2,205 shares of the company in a transaction that took place on Monday, April 5. The shares were sold for an average price of $ 42.16, for a total value of $ 92,962.80. Following the closing of the transaction, the insider now directly owns 17,342 shares of the company, valued at $ 731,138.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available through this hyperlink. In addition, insider Paul Whynott sold 20,480 shares of the company in a trade that took place on Tuesday, March 2. The shares were sold for an average price of $ 39.76, for a total transaction of $ 814,284.80. 0.45% of the shares are held by insiders of the company.
About Synchrony Financial
Synchrony Financial is a consumer financial services company in the United States. It offers a range of specialized financing programs and consumer banking products to the digital, retail, home, automotive, travel, health and pet industries. The company also offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium business credit products; and promotional financing for consumer purchases, such as private label credit cards, dual cards and installment loans.
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