Consumer financial services company Synchrony Financial (NYSE:SYF) will be reporting results this Tuesday before market open. Here’s what to expect.
Synchrony Financial missed analysts’ revenue expectations last quarter, reporting revenues of $3.72 billion, up 1.9% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ efficiency ratio estimates.
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This quarter, the market is expecting Synchrony Financial’s revenue to be flat year on year, in line with its flat revenue from the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Synchrony Financial has missed Wall Street’s revenue estimates multiple times over the last two years.
With Synchrony Financial being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for consumer finance stocks. However, the whole sector has been hit hard over the last month as stocks in Synchrony Financial’s peer group are down 3.2% on average. Synchrony Financial is down 1.4% during the same time .
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Source: finance.yahoo.com
