Synchrony Financial (NYSE:SYF) Falls out of Favor With Merrill Lynch As They Decide to Downgrade It

December 7, 2017 - By Hazel Jackson

  Synchrony Financial (NYSE:SYF) Falls out of Favor With Merrill Lynch As They Decide to Downgrade It

Synchrony Financial (NYSE:SYF) Receives a Downgrade

Merrill Lynch cut their rating for shares of Synchrony Financial (NYSE:SYF) to a Hold in analysts note revealed on 6 October. The financial firm now has a firm $33.0 target price per share on Synchrony Financial (NYSE:SYF).

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. The firm earned “Outperform” rating on Tuesday, October 11 by Wedbush. The stock has “Neutral” rating by Sterne Agee CRT on Thursday, September 10. Jefferies maintained Synchrony Financial (NYSE:SYF) on Friday, December 1 with “Buy” rating. The firm has “Perform” rating given on Tuesday, April 11 by Oppenheimer. The company was maintained on Tuesday, July 25 by Morgan Stanley. The firm has “Market Perform” rating given on Wednesday, September 16 by BMO Capital Markets. The rating was maintained by BMO Capital Markets with “Buy” on Friday, October 20. The company was maintained on Monday, October 23 by Barclays Capital. The firm has “Market Perform” rating given on Monday, October 19 by BMO Capital Markets. The firm has “Buy” rating given on Wednesday, May 31 by BMO Capital Markets.

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 EPS, down 2.86 % or $0.02 from last year’s $0.7 per share. SYF’s profit will be $532.16 million for 13.73 P/E if the $0.68 EPS becomes a reality. After $0.70 actual EPS 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: Streetinsider.com which released: “Synchrony Financial (SYF) PT Raised to $41 at Nomura/Instinet; ‘Increasing …” on December 04, 2017, also Businesswire.com with their article: “Synchrony Financial Achieves Top Score for Corporate Equality Index Three …” published on November 09, 2017, Fortune.com published: “The Best Workplaces for Diversity” on December 05, 2017. More interesting news about Synchrony Financial (NYSE:SYF) were released by: Seekingalpha.com and their article: “Synchrony Financial: The Company’s Bull Case Just Got Stronger” published on November 20, 2017 as well as Techcrunch.com‘s news article titled: “PayPal to sell $6 billion in consumer loans to Synchrony Financial” with publication date: November 16, 2017.

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