Synchrony Financial (NYSE:SYF) consumer financial services provider, is expected to report third quarter earnings results, before market open, on Tuesday 20th October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.70 per share.
Looking ahead, the full year income are expected at $ 1.90 per share on the revenues of $ 14411.90 million.
Previous Quarter Performance
Synchrony Financial announced income for the second quarter of $ 0.06 per share, from the revenue of $ 3,396.00 million. The quarterly earnings dropped 95.16 percent while revenues down 18.27 percent compared with the same quarter last year.
Street analysts expected Synchrony Financial to report income of $ 0.15 per share on revenue of $ 3614.75 million for the second quarter. The bottom line results missed street analysts by $ 0.09 or 60 percent, at the same time, top line results fell short of analysts by $ 218.75 million or 6.05 percent.
Stock Performance
Shares of Synchrony Financial traded low $ -0.30 or -1.02 percent on Monday, reaching $ 29.08 with volume of 5.19 million shares. Synchrony Financial has traded high as $ 29.99 and has cracked $ 29.04 on the downward trend
According to the previous trading day, closing price of $ 29.08, representing a 141.81 % increase from the 52 week low of $ 12.15 and a 23.05 % decrease over the 52 week high of $ 38.18.
The company has a market capital of $ 16.98 billion and is part of the Financial Services sector and Credit Services industry.
Recent Analyst recommendations
- On 5th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 27.00 target price.
- On 16th September 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 21.00 target price.
- On 10th September 2020, initiated by Deutsche Bank at Buy rating, with $ 30.00 target price.
Recent Stock Dividend Announcement
On July 22, 2020, the board of directors authorized quarterly dividend of $ 0.22 per share to holders of record as of the close of business on August 3, 2020, with payment date of August 13, 2020 and ex-dividend date on July 31, 2020.
Conference Call
Synchrony Financial will be hosting a conference call at 8:30 AM eastern time on 20th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.synchrony.com
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit 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 also provides promotional financing to consumers for health, veterinary and personal care procedures, and services and products, such as dental, vision, audiology, and cosmetic; debt cancellation products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.
