GE shares, up about 10% since activist investor Nelson Peltz unveiled a $2.5 billion stake in the company earlier this month, was up more than 3%, at $28.98, in trading Friday. The firm’s 50-day moving average is $31.76 and its 200 day moving average is $32.51. The company earned $2.46 billion during the quarter, compared to the consensus estimate of $3.02 billion.
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Synchrony Financial has received a key approval from the Federal Reserve System Board of Governors to become a standalone savings and loan holding company, according to a press release issued by Synchrony. Finally, Susquehanna upped their price target on shares of Synchrony Financial from $38.00 to $41.00 and gave the company a “positive” rating in a report on Monday, July 20th. That initiative, along with the dividend from GE Capital, puts the company on track to return about $30 billion to shareholders in 2015, it added. Synchrony Financial’s Wall Street analysts see 4.62% EPS growth, taking into account the $0.65 EPS reproted in the previous quarter, SYF has declined 1.13% since March 12, 2015 and is downtrending.
Synchrony Financial stock is down more than 1% at $30.70, as of 09:53 AM EDT.
Synchrony Financial (NYSE:SYF) was downgraded by Zacks from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Marketbeat reports. Zacks upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Thursday, August 27th. This approval represents a major step forward in Synchrony Financial becoming a fully independent company. Synchrony Financial (formerly GE Capital Retail Finance) offers private label and co-branded Dual Card credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Synchrony Financial now has an average rating of “Buy” and a consensus price target of $37.69.
For its part, GE on Friday reported a stronger-than-expected profit in its third quarter, as higher aviation and transportation earnings helped boost its core industrials business.
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On average, equities research analysts expect that Synchrony Financial will post $2.62 EPS for the current year. The Business supplies a range of credit products through plans it’s created having a group of retailers, local merchants, manufacturers, purchasing groups, industry organizations and health care companies. The Company’s revenue tasks are managed through three sales platforms: Payment Solutions, Retail Card and CareCredit. It offers its credit products through its wholly owned subsidiary, Synchrony Bank (the Bank).
