For its third fiscal quarter (ending September 30), Synovus Financial Corp. (NYSE: SNV) has reported a 98% increase in E.P.S. from $0.60 a year ago to $1.19 in the current quarter. This result exceeded the consensus estimate of $1.09 by $0.10. E.P.S. were $2.21 for the latest four quarters through September 30 versus $4.42 for the same period a year ago — a decline of -50%.
Recent Price Action
Synovus Financial Corp. (NYSE: SNV) stock enjoyed a large increase of 2.2% on 10/16/24. The stock closed at $48.37. Moreover, this advance was accompanied by exceptionally high trading volume at 219% of normal. The stock has been strong relative to the market over the last nine months and has risen 12.4% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, SNV is expected to continue to be an important Value Builder.
Synovus Financial has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Synovus Financial has a good Appreciation Score of 75 and a good Power Rating of 79, producing the Highest Value Trend Rating.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
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