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Synchrony Financial's (SYF ) Q1 Earnings Miss Estimates
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Have you been eager to see how Synchrony Financial (SYF - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this popular global professional services company’s earnings release this morning.
An Earnings Miss
Synchrony Financial came out with adjusted earnings of 58 cents per share, which missed the Zacks Consensus Estimate of 78 cents.
Synchrony Financial has a decent earnings surprise history. The company delivered positive surprises in each of the last four quarters, with an average beat of 6.37%.
Key Q1 Statistics
Net interest income decreased 8% year over year to $3.9 billion.
Provision for credit loss increased 95% year over year to $1.7 billion.
While return on assets was 1.1%, the return on equity was 9.1%.
Efficiency ratio was 32.7% in the first quarter of 2020, expanding 170 basis points year over year.
What Zacks Rank Says
Synchrony Financial carries a Zacks Rank #4 (Hold). However, since the latest earnings performance yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Synchrony Financial earnings report!
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Synchrony Financial's (SYF ) Q1 Earnings Miss Estimates
Have you been eager to see how Synchrony Financial (SYF - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this popular global professional services company’s earnings release this morning.
An Earnings Miss
Synchrony Financial came out with adjusted earnings of 58 cents per share, which missed the Zacks Consensus Estimate of 78 cents.
Synchrony Financial Price and EPS Surprise
Synchrony Financial price-eps-surprise | Synchrony Financial Quote
Earnings Surprise History
Synchrony Financial has a decent earnings surprise history. The company delivered positive surprises in each of the last four quarters, with an average beat of 6.37%.
Key Q1 Statistics
Net interest income decreased 8% year over year to $3.9 billion.
Provision for credit loss increased 95% year over year to $1.7 billion.
While return on assets was 1.1%, the return on equity was 9.1%.
Efficiency ratio was 32.7% in the first quarter of 2020, expanding 170 basis points year over year.
What Zacks Rank Says
Synchrony Financial carries a Zacks Rank #4 (Hold). However, since the latest earnings performance yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Synchrony Financial earnings report!
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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