Discover Financial Services’ (DFS) “Buy” Rating Reaffirmed at Jefferies Group
Discover Financial Services (NYSE:DFS)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a note issued to investors on Thursday. They presently have a $70.00 price objective on the financial services provider’s stock. Jefferies Group’s price objective would suggest a potential upside of 26.10% from the company’s current price.
DFS has been the topic of several other research reports. Credit Suisse Group AG reiterated a “buy” rating on shares of Discover Financial Services in a research note on Tuesday, August 23rd. Deutsche Bank AG reiterated a “buy” rating and issued a $63.00 price target on shares of Discover Financial Services in a research note on Thursday, August 18th. Nomura restated a “buy” rating on shares of Discover Financial Services in a research report on Sunday, July 10th. BMO Capital Markets restated a “hold” rating and set a $63.00 price objective on shares of Discover Financial Services in a research report on Wednesday, July 20th. Finally, Morgan Stanley restated a “buy” rating and set a $70.00 price objective on shares of Discover Financial Services in a research report on Thursday, June 23rd. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $63.69.
Shares of Discover Financial Services (NYSE:DFS) traded down 2.45% on Thursday, hitting $54.15. The stock had a trading volume of 1,569,486 shares. The company has a market cap of $21.86 billion, a PE ratio of 10.17 and a beta of 1.20. Discover Financial Services has a 52 week low of $42.86 and a 52 week high of $60.29. The stock’s 50-day moving average price is $57.75 and its 200 day moving average price is $55.71.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/discover-financial-services-dfs-buy-rating-reaffirmed-at-jefferies-group.html
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.05. Discover Financial Services had a return on equity of 21.15% and a net margin of 22.41%. On average, analysts predict that Discover Financial Services will post $5.72 EPS for the current year.
In other Discover Financial Services news, Director Mary K. Bush sold 2,229 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $56.98, for a total transaction of $127,008.42. Following the completion of the transaction, the director now directly owns 54,425 shares of the company’s stock, valued at $3,101,136.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David W. Nelms sold 15,000 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $56.46, for a total value of $846,900.00. Following the transaction, the chief executive officer now directly owns 1,727,268 shares of the company’s stock, valued at $97,521,551.28. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in DFS. Vanguard Group Inc. raised its position in shares of Discover Financial Services by 1.6% in the second quarter. Vanguard Group Inc. now owns 25,018,247 shares of the financial services provider’s stock valued at $1,340,727,000 after buying an additional 394,393 shares during the period. Boston Partners increased its stake in Discover Financial Services by 11.9% in the second quarter. Boston Partners now owns 16,727,596 shares of the financial services provider’s stock valued at $896,432,000 after buying an additional 1,784,386 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Discover Financial Services by 5.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,449,239 shares of the financial services provider’s stock valued at $292,024,000 after buying an additional 292,366 shares in the last quarter. Bank of Montreal Can bought a new stake in Discover Financial Services during the second quarter valued at about $287,715,000. Finally, BlackRock Advisors LLC increased its stake in Discover Financial Services by 9.1% in the second quarter. BlackRock Advisors LLC now owns 4,986,349 shares of the financial services provider’s stock valued at $267,219,000 after buying an additional 417,380 shares in the last quarter. 85.42% of the stock is owned by institutional investors and hedge funds.
About Discover Financial Services
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.
Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.