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Visa has proposed a $100 million deal to become Apple’s new credit card network partner, as reported by the Wall Street Journal. This offer includes an upfront payment typical for major card programs, with American Express also vying for the role of issuer and network. Following the end of Apple’s partnership with Goldman Sachs and Mastercard in November 2023, other financial institutions like Barclays, Synchrony Financial, and JPMorgan Chase have expressed interest in taking over.
Synchrony Financial (NYSE:SYF) reported a quarterly EPS of $1.91, exceeding estimates, and announced a dividend of $0.25 per share, yielding 1.91%. Analysts forecast a 7.67 EPS for the current fiscal year, with a consensus rating of "Moderate Buy" and an average target price of $68.10. The stock opened at $52.39, with a market cap of $20.37 billion and a P/E ratio of 6.13.
Truist Financial has lowered its price target for Synchrony Financial from $77 to $65, maintaining a "hold" rating, while UBS Group raised its target from $58 to $66 with a "neutral" rating. Currently, the stock has a "Moderate Buy" average rating and a target price of $68.10, with 96.48% of shares held by institutional investors. Synchrony Financial's stock opened at $52.39, with a 12-month range of $39.67 to $70.93, and recently announced a quarterly dividend of $0.25.
Synchrony Financial reported a net margin of 15.36% and a return on equity of 18.30%, with analysts predicting earnings per share of 7.67 for the fiscal year. The company declared a quarterly dividend of $0.25 per share, yielding 1.85%, and has a payout ratio of 11.71%. Institutional investors hold 96.48% of the stock, and while it has a "Moderate Buy" rating, some analysts have recently downgraded their ratings.
Barclays upgraded Synchrony Financial from "equal weight" to "overweight," raising the price target from $59 to $79. While seven analysts rated the stock as a hold, fourteen issued buy ratings, leading to an average rating of "Moderate Buy" with a consensus target price of $68.10. Vanguard Group trimmed its holdings by 3%, owning 12.36% of the company, while other investors also adjusted their positions.
Synchrony Financial has seen a mix of analyst ratings recently, with StockNews.com downgrading it to "hold," while JPMorgan and Morgan Stanley upgraded their ratings to "overweight" with price targets of $72.00 and $82.00, respectively. The company, which provides various consumer financial services, has an average rating of "Moderate Buy" and a target price of $68.10, with significant institutional ownership at 96.48%. Recently, it reported earnings of $1.91 per share, exceeding expectations, and announced a quarterly dividend of $0.25, reflecting a yield of 1.79%.
Northern Trust Corp has increased its stake in Synchrony Financial to 5,183,717 shares, valued at $336.9 million, while Southpoint Capital Advisors LP raised its holdings by 37.9% to 4,600,000 shares worth $229.4 million. Institutional investors own 96.48% of the stock. Synchrony Financial, a consumer financial services company, reported a Q4 EPS of $1.91, exceeding estimates, and has a current market cap of $21.7 billion. Analysts maintain a "Moderate Buy" rating with a consensus price target of $68.10.
Consumers in the U.S. are cutting back on spending due to ongoing inflation and a deteriorating economic outlook, according to Synchrony Financial. The Consumer Confidence Index has dropped for four consecutive months, reaching its lowest point since late 2022, while delinquencies on loans are rising, raising concerns about household financial strain. Financial stocks are also feeling the impact, with significant declines observed in major companies like Discover Financial Services.
U.S. consumers are reducing spending due to high inflation and a bleak economic outlook, leading to increased debt and rising delinquencies in auto loans, credit cards, and home credit lines. Retailers report cautious shopping behavior, with consumers prioritizing deals and lower-priced items. Analysts warn that this trend may signal future credit payment issues, as federal student loan delinquencies are set to reappear, potentially straining already stretched finances.
U.S. consumer confidence has plummeted to a 12-year low, with the Conference Board reporting a significant drop in its headline measure and expectations index. Synchrony Financial noted that households are tightening spending amid rising inflation concerns, impacting retail stocks like Walmart and Target. Despite the gloomy outlook, Synchrony maintains a Moderate Buy rating, suggesting potential upside for its stock.
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