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Synchrony (SYF) Solidifies Ties, Offers Perks for TCS Clients
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Synchrony Financial (SYF - Free Report) recently extended its consumer financing partnership with the renowned U.S. specialty retailer of organizing solutions, custom spaces, and in-home services, The Container Store Group, Inc. (TCS - Free Report) . The renewed tie-up will enable SYF to infuse the benefits of a digital private-label credit card and mobile wallet facility within the mobile app of TCS.
By virtue of the latest move, the prevailing cardholders and new customers of The Container Store credit card will keep enjoying some special financing offers in addition to improved benefits and savings stemming from the enriched card program.
The financing options comprise deferred interest financing offers clubbed with diversified term options. The offers require customers to make minimum monthly payments for which they have to receive credit approval.
Thereby, the ulterior motive of the partnership expansion remains to provide an enhanced checkout experience for customers engaging in purchases through the TCS mobile app. Additionally, the intent to offer varied and flexible financing options as well as lucrative rewards to The Container Store customers while shopping is likely to win more customers for the specialty retailer.
Such renewed agreements are likely to boost the top line of Synchrony Financial since it derives most of its revenues from extending credit products pursuant to program agreements with partners.
The notable endeavor of SYF to continue delivering convenient financing options across varied industries is clearly reflected in this latest partnership. A day before the renewed agreement with TCS was announced, SYF announced the availability of the CareCredit credit card for use across the wellness care and services industry.
Therefore, the CareCredit credit card can be utilized at in-network health and wellness locations to make convenient payments for preventative care and services. Simultaneously, the card can also be utilized to pay for out-of-pocket expenses, such as co-pays and deductibles, linked with one-on-one therapy sessions and prescription medications that are not often covered under health insurance plans.
SYF is steadily pursuing a series of acquisitions and renewal of alliances with several payment solutions partners throughout the United States to broaden consumer payment choices, widen credit accessibility, broaden its portfolio, fetch new clients and bring increased repeat sales. The list of SYF’s partners is continually increasing, with more than 15 partners being added or relationships being renewed in the first quarter of 2023.
Shares of Synchrony Financial have gained 7.1% in a year against the industry’s 6.8% decline. SYF currently carries a Zacks Rank #3 (Hold).
The bottom line of Crescent Capital outpaced estimates in two of the last four quarters and missed the mark twice, the average surprise being 5.39%. The Zacks Consensus Estimate for CCAP’s 2023 earnings suggests an improvement of 7.3%, while the same for revenues suggests a 51.6% surge from the respective year-ago reported figures. The consensus mark for CCAP’s 2023 earnings has moved 6.7% north in the past 30 days.
Horizon Technology Finance’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 17.32%. The Zacks Consensus Estimate for HRZN’s 2023 earnings suggests an improvement of 15.8%, while the same for revenues suggests growth of 36.6% from the corresponding year-ago reported figures. The consensus mark for HRZN’s 2023 earnings has moved 3.7% north in the past 60 days.
Shares of Horizon Technology Finance have gained 2.6% in a year, while the Crescent Capital stock has declined 19.2% in the same time frame.
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Synchrony (SYF) Solidifies Ties, Offers Perks for TCS Clients
Synchrony Financial (SYF - Free Report) recently extended its consumer financing partnership with the renowned U.S. specialty retailer of organizing solutions, custom spaces, and in-home services, The Container Store Group, Inc. (TCS - Free Report) . The renewed tie-up will enable SYF to infuse the benefits of a digital private-label credit card and mobile wallet facility within the mobile app of TCS.
By virtue of the latest move, the prevailing cardholders and new customers of The Container Store credit card will keep enjoying some special financing offers in addition to improved benefits and savings stemming from the enriched card program.
The financing options comprise deferred interest financing offers clubbed with diversified term options. The offers require customers to make minimum monthly payments for which they have to receive credit approval.
Thereby, the ulterior motive of the partnership expansion remains to provide an enhanced checkout experience for customers engaging in purchases through the TCS mobile app. Additionally, the intent to offer varied and flexible financing options as well as lucrative rewards to The Container Store customers while shopping is likely to win more customers for the specialty retailer.
Such renewed agreements are likely to boost the top line of Synchrony Financial since it derives most of its revenues from extending credit products pursuant to program agreements with partners.
The notable endeavor of SYF to continue delivering convenient financing options across varied industries is clearly reflected in this latest partnership. A day before the renewed agreement with TCS was announced, SYF announced the availability of the CareCredit credit card for use across the wellness care and services industry.
Therefore, the CareCredit credit card can be utilized at in-network health and wellness locations to make convenient payments for preventative care and services. Simultaneously, the card can also be utilized to pay for out-of-pocket expenses, such as co-pays and deductibles, linked with one-on-one therapy sessions and prescription medications that are not often covered under health insurance plans.
SYF is steadily pursuing a series of acquisitions and renewal of alliances with several payment solutions partners throughout the United States to broaden consumer payment choices, widen credit accessibility, broaden its portfolio, fetch new clients and bring increased repeat sales. The list of SYF’s partners is continually increasing, with more than 15 partners being added or relationships being renewed in the first quarter of 2023.
Shares of Synchrony Financial have gained 7.1% in a year against the industry’s 6.8% decline. SYF currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Finance space are Crescent Capital BDC, Inc. (CCAP - Free Report) and Horizon Technology Finance Corporation (HRZN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Crescent Capital outpaced estimates in two of the last four quarters and missed the mark twice, the average surprise being 5.39%. The Zacks Consensus Estimate for CCAP’s 2023 earnings suggests an improvement of 7.3%, while the same for revenues suggests a 51.6% surge from the respective year-ago reported figures. The consensus mark for CCAP’s 2023 earnings has moved 6.7% north in the past 30 days.
Horizon Technology Finance’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 17.32%. The Zacks Consensus Estimate for HRZN’s 2023 earnings suggests an improvement of 15.8%, while the same for revenues suggests growth of 36.6% from the corresponding year-ago reported figures. The consensus mark for HRZN’s 2023 earnings has moved 3.7% north in the past 60 days.
Shares of Horizon Technology Finance have gained 2.6% in a year, while the Crescent Capital stock has declined 19.2% in the same time frame.