Discover Financial Services (DFS) Expected to Post Q2 2017 Earnings of $1.48 Per Share
Discover Financial Services (NYSE:DFS) – Wedbush cut their Q2 2017 EPS estimates for shares of Discover Financial Services in a research report issued on Tuesday. Wedbush analyst H. Coffey now forecasts that the financial services provider will post earnings per share of $1.48 for the quarter, down from their previous estimate of $1.51. Wedbush currently has a “Buy” rating and a $78.00 target price on the stock. Wedbush also issued estimates for Discover Financial Services’ Q4 2017 earnings at $1.49 EPS, Q3 2018 earnings at $1.79 EPS, Q4 2018 earnings at $1.61 EPS and FY2018 earnings at $6.70 EPS.
DFS has been the topic of several other reports. Sandler O’Neill set a $79.00 price target on shares of Discover Financial Services and gave the company a “buy” rating in a research note on Wednesday, January 25th. JMP Securities increased their price target on shares of Discover Financial Services from $71.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, January 25th. Rafferty Capital Markets reiterated a “hold” rating and issued a $70.00 price target on shares of Discover Financial Services in a research note on Wednesday, March 29th. Evercore ISI lowered their target price on shares of Discover Financial Services from $79.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC restated a “buy” rating and set a $82.00 target price on shares of Discover Financial Services in a research report on Friday, April 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $73.67.
Shares of Discover Financial Services (NYSE:DFS) opened at 59.20 on Thursday. The company has a market cap of $22.51 billion, a price-to-earnings ratio of 10.11 and a beta of 1.42. The stock has a 50 day moving average of $62.88 and a 200 day moving average of $67.84. Discover Financial Services has a 12-month low of $50.32 and a 12-month high of $74.33.
Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, April 25th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.01. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.36 billion. Discover Financial Services had a net margin of 22.54% and a return on equity of 21.66%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $1.35 EPS.
Several hedge funds and other institutional investors have recently made changes to their positions in DFS. Cable Hill Partners LLC boosted its stake in Discover Financial Services by 112.1% in the third quarter. Cable Hill Partners LLC now owns 1,926 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,018 shares in the last quarter. Orrstown Financial Services Inc. boosted its stake in Discover Financial Services by 64.2% in the first quarter. Orrstown Financial Services Inc. now owns 1,716 shares of the financial services provider’s stock worth $117,000 after buying an additional 671 shares in the last quarter. FNY Managed Accounts LLC bought a new stake in Discover Financial Services during the first quarter worth approximately $124,000. Fuller & Thaler Asset Management Inc. boosted its stake in Discover Financial Services by 52.9% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,600 shares of the financial services provider’s stock worth $147,000 after buying an additional 900 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new stake in Discover Financial Services during the fourth quarter worth approximately $151,000. Institutional investors and hedge funds own 85.54% of the company’s stock.
In other news, CEO David W. Nelms sold 15,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $67.93, for a total value of $1,018,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $62.18, for a total value of $1,865,400.00. Following the completion of the transaction, the chief executive officer now owns 1,674,732 shares of the company’s stock, valued at approximately $104,134,835.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,342 shares of company stock valued at $7,344,016. Company insiders own 1.07% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Tuesday, May 9th. Discover Financial Services’s dividend payout ratio is currently 20.76%.
Discover Financial Services Company Profile
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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
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