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Synchrony (SYF) and Floor & Decor Partner for Financing Options
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Synchrony Financial ( (SYF - Free Report) recently collaborated with Floor & Decor to provide financial services program to its professional customers and homeowners. Synchrony Financial’s financing program for Floor & Decor consists of a private label credit card and a professional label credit card. This program targets to provide different types of customers with favorable financing options.
This move bodes well for Synchrony Financial, as it will gain from higher interest income. This partnership expands Synchrony Financial’s network of partners, highlighting its unwavering focus on expanding business organically. This will further lead to improving Diversified and Value segment volumes in the future.
Strong retailer performance and an enhanced set of value propositions should poise Synchrony Financial well for growth. It is also prudent for the company to invest in growing businesses as Diversified and Value segment’s loan receivables grew 14% in the second quarter of 2023. This will increase capital efficiency and enhance return on capital and asset ratios.
This partnership will bring more business for Floor & Decor as customers get customized financing and payment options for small or big in-store or digital purchases. Synchrony’s multi-product offerings will also cater to professional customers like builders, contractors, flooring installers, designers etc. The company will be able to provide a comprehensive and dynamic financial ecosystem with attractive value proposition and better experience, along with various relevant products and services.
The new Floor & Decor financing program would provide contractors with a professional private-label credit card for managing bulk and project-related purchases. Promotional financing is also available for purchases over $299. For homeowners, a consumer private label credit card and promotional financing on purchases up to $499 for six months are available. Synchrony Financial will also provide fraud-mitigation capabilities and an enhanced application process for customers.
Price Performance
Shares of Synchrony Financial gained 26.5% in the past three months compared with the industry’s growth of 11.1%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Synchrony Financial currently carries a Zacks Rank #3 (Hold).
The bottom line of Moody’s Corporation outpaced estimates in three of the trailing four quarters, while it missed once, the average surprise being 9.3%.
The Zacks Consensus Estimate for MCO’s 2023 earnings per share is pegged at $10.07, while the same for revenues is pegged at $6 billion for 2023. The consensus mark for MCO’s 2023 earnings has moved 2.5% north in the past 30 days.
The bottom line of StoneX Group outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 19.7%. The consensus mark for SNEX’s 2023 earnings has moved 8.1% north in the past 30 days.
The Zacks Consensus Estimate for SNEX’s 2023 earnings indicates a 10.9% rise, while the same for revenues suggests 44.1% growth from the respective prior-year reported figures.
WisdomTree’s bottom line outpaced estimates in one of the trailing four quarters and missed thrice. The average of earnings surprises is 10%.
The Zacks Consensus Estimate for WT’s 2023 earnings indicates a 42.3% rise, while the same for revenues suggests 15.9% growth from the respective prior-year reported figures.
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Synchrony (SYF) and Floor & Decor Partner for Financing Options
Synchrony Financial ( (SYF - Free Report) recently collaborated with Floor & Decor to provide financial services program to its professional customers and homeowners. Synchrony Financial’s financing program for Floor & Decor consists of a private label credit card and a professional label credit card. This program targets to provide different types of customers with favorable financing options.
This move bodes well for Synchrony Financial, as it will gain from higher interest income. This partnership expands Synchrony Financial’s network of partners, highlighting its unwavering focus on expanding business organically. This will further lead to improving Diversified and Value segment volumes in the future.
Strong retailer performance and an enhanced set of value propositions should poise Synchrony Financial well for growth. It is also prudent for the company to invest in growing businesses as Diversified and Value segment’s loan receivables grew 14% in the second quarter of 2023. This will increase capital efficiency and enhance return on capital and asset ratios.
This partnership will bring more business for Floor & Decor as customers get customized financing and payment options for small or big in-store or digital purchases. Synchrony’s multi-product offerings will also cater to professional customers like builders, contractors, flooring installers, designers etc. The company will be able to provide a comprehensive and dynamic financial ecosystem with attractive value proposition and better experience, along with various relevant products and services.
The new Floor & Decor financing program would provide contractors with a professional private-label credit card for managing bulk and project-related purchases. Promotional financing is also available for purchases over $299. For homeowners, a consumer private label credit card and promotional financing on purchases up to $499 for six months are available. Synchrony Financial will also provide fraud-mitigation capabilities and an enhanced application process for customers.
Price Performance
Shares of Synchrony Financial gained 26.5% in the past three months compared with the industry’s growth of 11.1%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Synchrony Financial currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Financial – Miscellaneous Space are Moody's Corporation (MCO - Free Report) , StoneX Group Inc. (SNEX - Free Report) and WisdomTree, Inc. (WT - Free Report) . Moody’s and StoneX sport a Zacks Rank of 1 (Strong Buy), while WisdomTree carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Moody’s Corporation outpaced estimates in three of the trailing four quarters, while it missed once, the average surprise being 9.3%.
The Zacks Consensus Estimate for MCO’s 2023 earnings per share is pegged at $10.07, while the same for revenues is pegged at $6 billion for 2023. The consensus mark for MCO’s 2023 earnings has moved 2.5% north in the past 30 days.
The bottom line of StoneX Group outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 19.7%. The consensus mark for SNEX’s 2023 earnings has moved 8.1% north in the past 30 days.
The Zacks Consensus Estimate for SNEX’s 2023 earnings indicates a 10.9% rise, while the same for revenues suggests 44.1% growth from the respective prior-year reported figures.
WisdomTree’s bottom line outpaced estimates in one of the trailing four quarters and missed thrice. The average of earnings surprises is 10%.
The Zacks Consensus Estimate for WT’s 2023 earnings indicates a 42.3% rise, while the same for revenues suggests 15.9% growth from the respective prior-year reported figures.