Synchrony Posts Impressive Receivables Growth, but Retailers Are Reaping Greater Benefits
Narrow-moat-rated Synchrony Financial posted fourth-quarter results that were in line with our expectations. The company generated EPS of $0.70, growth of 6% year over year. Impressively, the company grew credit card receivables by almost 12% year over year and 8.4% sequentially. This marks some of the most impressive growth the company has seen in a few years. As expected, Synchrony didn’t receive any benefit in net interest margin from rising rates. In fact, yields on credit cards declined seq...Synchrony Financial is a savings and loan holding company and financial holding company. Through its subsidiaries, the company delivers a range of financing programs, as well as consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. The company provides a range of credit products through its financing programs which it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which it refers to as its partners. Through its partners, the company provides their customers a variety of credit products to finance the purchase of goods and services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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