Is Synchrony Financial (NYSE:SYF) Worth Your Time and Dime Following a Merrill Lynch Downgrade?

December 7, 2017 - By Hazel Jackson

  Is Synchrony Financial (NYSE:SYF) Worth Your Time and Dime Following a Merrill Lynch Downgrade?

Synchrony Financial (NYSE:SYF) Receives a Downgrade

Just today Synchrony Financial (NYSE:SYF) has been cut by research analysts working for Merrill Lynch to a solid Hold rating. This was announced in a a research report released on Friday, 6 October. The firm from today has a $33.0 target price on shares. Merrill Lynch’s target price gives a possible downside of -11.62 %.

Synchrony Financial (NYSE:SYF) Ratings Coverage

Among 27 analysts covering Synchrony Financial (NYSE:SYF), 19 have Buy rating, 0 Sell and 8 Hold. Therefore 70% are positive. Synchrony Financial has $44 highest and $31 lowest target. $37.41’s average target is 0.19% above currents $37.34 stock price. Synchrony Financial had 58 analyst reports since July 20, 2015 according to SRatingsIntel. BMO Capital Markets maintained Synchrony Financial (NYSE:SYF) rating on Wednesday, May 31. BMO Capital Markets has “Buy” rating and $3800 target. Sterne Agee CRT initiated the stock with “Neutral” rating in Thursday, September 10 report. The firm has “Buy” rating given on Monday, July 17 by Keefe Bruyette & Woods. The company was maintained on Wednesday, April 12 by Wood. The firm has “Market Perform” rating by BMO Capital Markets given on Wednesday, September 16. Sterne Agee CRT upgraded Synchrony Financial (NYSE:SYF) on Monday, November 23 to “Buy” rating. The stock has “Buy” rating by Keefe Bruyette & Woods on Tuesday, August 22. The company was maintained on Friday, December 1 by Jefferies. The company was maintained on Wednesday, August 23 by BMO Capital Markets. Jefferies maintained Synchrony Financial (NYSE:SYF) rating on Wednesday, June 7. Jefferies has “Buy” rating and $4000 target.

The stock decreased 0.13% or $0.05 during the last trading session, reaching $37.34. About 8.08M shares traded or 25.14% up from the average. Synchrony Financial (NYSE:SYF) has declined 10.35% since December 7, 2016 and is downtrending. It has underperformed by 27.05% the S&P500.

Analysts await Synchrony Financial (NYSE:SYF) to report earnings on January, 19. They expect $0.68 earnings per share, down 2.86 % or $0.02 from last year’s $0.7 per share. SYF’s profit will be $532.16M for 13.73 P/E if the $0.68 EPS becomes a reality. After $0.70 actual earnings per share reported by Synchrony Financial for the previous quarter, Wall Street now forecasts -2.86 % negative EPS growth.

Synchrony Financial operates as a consumer financial services firm in the United States. The company has market cap of $29.22 billion. The firm offers private label credit cards, dual cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans. It has a 14.19 P/E ratio. It also provides promotional financing to clients for health and personal care procedures, products, or services, such as dental, veterinary, cosmetic, vision and audiology; debt cancellation products; and deposit products, including certificates of deposit, individual retirement, money market, and savings accounts, as well as accepts deposits through third-party securities brokerage firms.

More notable recent Synchrony Financial (NYSE:SYF) news were published by: Globenewswire.com which released: “New Research: Key Drivers of Growth for Synchrony Financial, Pulse Biosciences …” on December 04, 2017, also Seekingalpha.com with their article: “Synchrony Financial: The Company’s Bull Case Just Got Stronger” published on November 20, 2017, Seekingalpha.com published: “Synchrony Financial: Greater Risks/Rewards” on November 20, 2017. More interesting news about Synchrony Financial (NYSE:SYF) were released by: Fool.com and their article: “Why PayPal Holdings Wants Out of (and Synchrony Financial Wants In) the Credit …” published on December 07, 2017 as well as Streetinsider.com‘s news article titled: “Synchrony Financial (SYF) PT Raised to $41 at Nomura/Instinet; ‘Increasing …” with publication date: December 04, 2017.

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