Some good signs for Synovus Financial Corp (NYSE:SNV)

Posted by Kristi Scott August 19, 2013 0 Comment 868 views

Last Thursday, Drexel Hamilton’s analysts’ downgraded Synovus Financial Corp (NYSE:SNV) from a “buy” to a “hold” rating and have currently set a target price of $3.50 on the stock. This price objective might just indicate a possible upside of 2.34 percent from the price that it currently stands at. Analysts have noted that this move was more of a valuation call. The company has been the subject of several other analysts’ reports

Analyst opinion

Jeffries Group analysts reiterated their “hold” rating on SNV shares, on 22 July and now have a $3.00 price target on them which is up from the $2.50 that had been set earlier. Sun Trust analysts’ raised their price-target on Synovus shares from $2.80 to $3.30 on July 19th and now have a “neutral” rating on its stock.

Compass Point analysts’ have upgraded the SNV shares from a “neutral” to a “buy rating and now have a target price of $3.50 which is up from the $2.70 that had been set earlier. Two analysts have set a “sell” rating on the stock while 8 have issued a “hold” rating and six analysts have set a “buy” rating on the stock. At present, the average rating on Synovus stock is “hold” and the average price target is $3.08.

The company last issued its quarterly earnings report on 18 July. The company has reported earnings per share of $0.03 which was on par with the average analyst estimate of $0.03. In the same quarter of the previous year, the company had posted earnings per share of $0.03. The average analysts’ EPS projection for the current financial year is $0.14.

Quarterly report

Synovus Financial Corp. (NYSE:SNV) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.03 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.03. During the same quarter in the prior year, the company posted $0.03 earnings per share.

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

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