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Synchrony Financial (NYSE:SYF), a premier consumer financial services company with a market capitalization of $27.2 billion, has disclosed its monthly charge-off and delinquency statistics for the period ending December 31, 2024.
The data, provided in a recent 8-K filing with the Securities and Exchange Commission, indicates the company's performance metrics in terms of credit losses and late payments. According to InvestingPro analysis, Synchrony currently trades above its Fair Value, while maintaining a "GREAT" overall financial health score.
According to the document filed today, Synchrony Financial will continue to release these monthly statistics. The report also notes that statistics for the last month of each quarter will be furnished concurrently with the company's quarterly financial results announcement. The company has demonstrated strong financial performance, with revenue reaching $9 billion and maintaining a competitive P/E ratio of 8.96.
The 8-K filing does not specify the actual figures of the charge-offs and delinquencies but states that the full statistics are available in Exhibit 99.1 of the report. These figures are essential for investors and analysts who closely monitor credit performance as an indicator of financial health and risk management effectiveness.
Investors should note that the information in the 8-K, including the monthly credit statistics, is furnished and not filed. Consequently, it is not subject to the liabilities of Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, unless specifically referenced in such filings.
Synchrony Financial, headquartered in Stamford, Connecticut, operates under the finance services industry classification. The company is incorporated in Delaware and has its fiscal year end on December 31. The recent filing reaffirms Synchrony's commitment to transparency in its financial reporting and provides stakeholders with timely updates on its credit performance.
InvestingPro data reveals that 5 analysts have recently revised their earnings upwards for the upcoming period, with comprehensive analysis available in the Pro Research Report, offering deeper insights into the company's financial outlook.
In other recent news, Synchrony Financial has reported a strong third-quarter, declaring net earnings of $789 million, exceeding consensus estimates. The company revised its full-year 2024 earnings per share (EPS) guidance upwards to a range of $8.45-$8.55. Furthermore, Synchrony has maintained its dividend payments for the ninth consecutive year, declaring a quarterly cash dividend of $0.25 per share on common stock and dividends on its preferred stocks.
Recent developments also highlight the renewal of Synchrony's partnership with Sam's Club for their credit card program, aiming to enhance shopping experiences and rewards for members. Truist Securities initiated coverage on Synchrony with a Hold rating, while Morgan Stanley (NYSE:MS) upgraded the company's stock from Equalweight to Overweight, citing anticipated EPS upside. Goldman Sachs maintained a Buy rating, highlighting better-than-expected delinquency rates and net charge-offs slightly below the seasonal trend.
Despite these developments, Synchrony anticipates a low single-digit decline in purchase volume for Q4, reflecting ongoing challenges in consumer spending and credit performance.
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