Factors Likely to Have Influenced Earnings Results Synovus Financial (NYSE:SNV)

0
123

Earnings results for Synovus Financial (NYSE:SNV)

Synovus Financial Corp. is expected* to report earnings on 10/20/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 10 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.49. The reported EPS for the same quarter last year was $0.97.

Synovus Financial last announced its earnings data on July 21st, 2020. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. The business earned $472.80 million during the quarter, compared to analyst estimates of $450.30 million. Its quarterly revenue was down 3.1% on a year-over-year basis. Synovus Financial has generated $3.90 earnings per share over the last year and currently has a price-to-earnings ratio of 9.3. Synovus Financial has confirmed that its next quarterly earnings report will be published on Tuesday, October 20th, 2020.

Analyst Opinion on Synovus Financial (NYSE:SNV)

9 Wall Street analysts have issued ratings and price targets for Synovus Financial in the last 12 months. Their average twelve-month price target is $30.75, predicting that the stock has a possible upside of 28.98%. The high price target for SNV is $42.00 and the low price target for SNV is $24.00. There are currently 2 hold ratings and 7 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Synovus Financial has received a consensus rating of Buy. The company’s average rating score is 2.78, and is based on 7 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $30.75, Synovus Financial has a forecasted upside of 29.0% from its current price of $23.84. Synovus Financial has only been the subject of 3 research reports in the past 90 days.

Dividend Strength: Synovus Financial (NYSE:SNV)

Synovus Financial is a leading dividend payer. It pays a dividend yield of 5.52%, putting its dividend yield in the top 25% of dividend-paying stocks. Synovus Financial has only been increasing its dividend for 3 years. The dividend payout ratio of Synovus Financial is 33.85%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Synovus Financial will have a dividend payout ratio of 62.86% next year. This indicates that Synovus Financial will be able to sustain or increase its dividend.

Insiders buying/selling: Synovus Financial (NYSE:SNV)

In the past three months, Synovus Financial insiders have not sold or bought any company stock. Only 1.10% of the stock of Synovus Financial is held by insiders. 79.93% of the stock of Synovus Financial is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Synovus Financial (NYSE:SNV

Earnings for Synovus Financial are expected to grow by 42.86% in the coming year, from $1.47 to $2.10 per share. The P/E ratio of Synovus Financial is 9.28, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.66. The P/E ratio of Synovus Financial is 9.28, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.28. Synovus Financial has a PEG Ratio of 1.87. PEG Ratios above 1 indicate that a company could be overvalued. Synovus Financial has a P/B Ratio of 0.79. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

More latest stories: here