Nucor earnings beat by $0.08, revenue fell short of estimates
Darrell Owens, an executive at Synchrony Financial (NYSE:SYF), recently sold 11,075 shares of the company’s common stock. The transaction, completed on March 3, was executed at an average price of $60.01 per share, yielding a total of approximately $664,610. This sale was conducted under a Rule 10b5-1 trading plan, which Owens adopted on October 18, 2024. The stock, currently trading at $56.11, has seen significant volatility recently, with a 13.4% decline year-to-date despite maintaining a "GREAT" overall financial health score according to InvestingPro analysis.
In addition to this sale, Owens acquired 7,416 shares on March 1 as restricted stock units, valued at $60.68 per share, amounting to a total of $450,002. These units will vest in three equal annual installments starting from the first anniversary of the grant date. Additionally, 2,688 shares were withheld by the company to cover tax liabilities associated with the vesting of restricted stock units. Trading at a P/E ratio of 6.58, Synchrony appears undervalued based on InvestingPro’s Fair Value model, which considers multiple factors including insider transactions. For deeper insights into insider trading patterns and 13 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Synchrony Financial reported its fourth-quarter earnings for 2024, with an earnings per share (EPS) of $1.91, slightly above the analyst expectation of $1.89. However, the company’s revenue of $3.8 billion fell short of the anticipated $3.84 billion. Synchrony Financial also disclosed its monthly charge-off and delinquency statistics up to January 31, 2025, emphasizing its commitment to transparency with investors. The company’s delinquencies remained steady at 4.70%, while net charge-offs decreased to 6.20%, showing improvement in credit quality metrics. Goldman Sachs maintained its Buy rating on Synchrony Financial with a price target of $82, noting the company’s solid credit performance despite a slight underperformance in loan growth. Additionally, Synchrony Financial added 5 million new accounts in the fourth quarter of 2024, reflecting a 2% growth in loan receivables. The firm introduced new products such as Synchrony Pay Later, aiming to enhance its market presence. These developments indicate Synchrony Financial’s ongoing efforts to strengthen its financial standing and expand its product offerings.
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