SYF is expected to gain from rising net interest income, improving delinquencies and higher average account balances.
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Synchrony (SYF) reported earnings 30 days ago. What's next for the stock?
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Synchrony Financial SYF reported better-than-expected second-quarter results on Wednesday.
Synchrony Financial stock is valued cheaper than peers even near all-time highs. P/E is below peers despite better profitability metrics. Consumer spending is starting to slow, but loan balances and interest income are still growing. Late payment rates appear to have peaked. Synchrony's common stock remains a Buy. The preferred shares offer safe dividends for more risk-averse investors. Series A is the better preferred to own when rates are falling.
For the second half of the year, Synchrony (SYF) expects purchase volumes to decrease flat to low single digit from the year-ago period due to credit actions and softening consumer demand.
Although the revenue and EPS for Synchrony (SYF) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Synchrony (SYF) came out with quarterly earnings of $1.55 per share, beating the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.32 per share a year ago.
Synchrony's (SYF) second-quarter results are likely to reflect rising purchase volumes but lower interest margins.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Synchrony (SYF), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.
Synchrony (SYF) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.