Synchrony Financial SYF reported better-than-expected second-quarter results on Wednesday.

Synchrony Financial stock is valued cheaper than peers even near all-time highs. P/E is below peers despite better profitability metrics. Consumer spending is starting to slow, but loan balances and interest income are still growing. Late payment rates appear to have peaked. Synchrony's common stock remains a Buy. The preferred shares offer safe dividends for more risk-averse investors. Series A is the better preferred to own when rates are falling.

NEW YORK , July 18, 2024 /PRNewswire/ -- New York-based Coast, which offers a simple and smart way for companies in the United States to manage fuel and fleet spending, today announced it has raised $40 million in new Series B financing, led by ICONIQ Growth. The round included participation from existing investors Accel, Insight Partners, Vesey Ventures, and Avid Ventures, as well as new investors Thomvest.

New Partnership Will Support Independent Vet Practices with Flexible Financing Options and Administrative Resources STAMFORD, Conn. , July 18, 2024 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer finance company, has announced that its CareCredit health and wellness credit card will now be the preferred financing option for members of The Veterinary Cooperative (TVC), a positive cooperative community of veterinarians and suppliers who share a vision to provide the best animal care through independent veterinary practices.

U.S. stocks traded mixed toward the end of trading, with the S&P 500 falling over 1% on Wednesday.

For the second half of the year, Synchrony (SYF) expects purchase volumes to decrease flat to low single digit from the year-ago period due to credit actions and softening consumer demand.

U.S. lenders' second-quarter profits were squeezed by dampening loan demand and the high interest they paid to hold on to deposits, but a flurry of bond sales boosted their investment banking units.

Although the revenue and EPS for Synchrony (SYF) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Synchrony (SYF) came out with quarterly earnings of $1.55 per share, beating the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.32 per share a year ago.

STAMFORD, Conn. , July 17, 2024 /PRNewswire/ -- Synchrony Financial (NYSE: SYF) today announced its second quarter 2024 results for the period ending June 30, 2024.

Synchrony's (SYF) second-quarter results are likely to reflect rising purchase volumes but lower interest margins.

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Synchrony (SYF), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.