Synovus Financial Corp (NYSE:SNV) not the cynosure of all analyst eyes

Posted by Ryan Mandell July 22, 2013 0 Comment 995 views

In a research report that was issued on Friday, SunTrust’s equities researchers have raised their price objective on Synovus Financial Corp (NYSE:SNV) shares, from $2.80-$3.30. Currently, the firm has a “neutral” rating on SNV stock. The company shares rose by 4.85% in Friday’s trading session. The opening price of the shares was $3.28 which rose to an intraday price of $3.30 and closed at $3.24. SNV has a 1 year low of $1.81, its one year high is $3.15 and its market cap is $2.570B. Currently, the 50-day moving average of the stock is $2.84.

Earnings data

SNV had last issued its earnings data on 18 July. For the quarter, it had reported EPS of $0.03 which had met the average analyst estimate of $0.03. The company had posted EPS of $0.03 in the same quarter in 2012. For the current financial year, analysts are projecting that the company will post an EPS of $0.11. Several other analysts have also very recently upped their ratings on SNV. Compass Point analysts upgraded the company’s shares from a “neutral” to a “buy” rating. The price target on the stock is $3.50 which previously stood at $2.70.

Trending towards a “buy” rating

Zacks analysts also upgraded SNV shares from an “underperform” to a “neutral” rating. Now, the price target of $3.00 has been placed on the stock. Goldman Sachs Group analysts thought differently and downgraded the Synovus stock from a “neutral” to a “sell” rating. Two different investment analysts have set a “sell” rating on the stock while seven have set a “hold” rating. Six think that it is a “buy”. The average rating on the stock is a “buy” and the consensus target price is $3.00.

The market sentiment around Synovus Financial Corp (NYSE:SNV) seems to have some variation but overall, it seems like the company is well on its way up the hill. With a little luck, it will be able to hold its own.

About Ryan Mandell

Ryan Mandell is our senior staff writer covering the White House for Political Report, Ryan also coordinates with the main newsroom news items and contributing write-ups on cultural, social and political activities. Ryan holds an undergraduate degree in journalism, a Doctorate in international relations and a Master Degree in mass communications with an emphasis in print journalism. Ryan also covered the International Society of Social Defense congress in Spain in 2007 and taken part in the Global Forum on economic policies

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