Discover Financial Services (DFS) Expected to Post Q4 2017 Earnings of $1.41 Per Share
Discover Financial Services (NYSE:DFS) – Equities research analysts at William Blair reduced their Q4 2017 earnings per share estimates for shares of Discover Financial Services in a report issued on Tuesday. William Blair analyst R. Napoli now expects that the financial services provider will earn $1.41 per share for the quarter, down from their previous estimate of $1.48. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Discover Financial Services’ Q2 2018 earnings at $1.64 EPS, Q3 2018 earnings at $1.70 EPS and Q4 2018 earnings at $1.65 EPS.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data 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. Discover Financial Services had a return on equity of 21.86% and a net margin of 22.08%. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm posted $1.35 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. TRADEMARK VIOLATION WARNING: This report was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/07/20/discover-financial-services-dfs-expected-to-post-q4-2017-earnings-of-1-41-per-share.html.
Other equities research analysts also recently issued research reports about the stock. Deutsche Bank AG downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating and reduced their price target for the company from $87.00 to $71.00 in a research report on Monday, May 1st. Instinet restated a “buy” rating and issued a $81.00 price target (down previously from $86.00) on shares of Discover Financial Services in a research report on Wednesday, July 12th. Wells Fargo & Company downgraded shares of Discover Financial Services to a “buy” rating and set a $70.00 price target for the company. in a research report on Friday, May 19th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Discover Financial Services in a research report on Friday, May 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $75.00 price target (down previously from $81.00) on shares of Discover Financial Services in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $74.58.
Shares of Discover Financial Services (NYSE DFS) traded up 0.3196% on Thursday, hitting $61.3354. The company had a trading volume of 483,738 shares. The company has a 50-day moving average of $60.68 and a 200 day moving average of $65.62. Discover Financial Services has a 12 month low of $53.91 and a 12 month high of $74.33. The stock has a market cap of $23.32 billion, a PE ratio of 10.4757 and a beta of 1.47.
Institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in shares of Discover Financial Services by 3.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,318 shares of the financial services provider’s stock valued at $1,032,000 after buying an additional 470 shares in the last quarter. RMB Capital Management LLC increased its position in shares of Discover Financial Services by 52.1% in the fourth quarter. RMB Capital Management LLC now owns 10,868 shares of the financial services provider’s stock valued at $783,000 after buying an additional 3,725 shares in the last quarter. USA Financial Portformulas Corp purchased a new position in shares of Discover Financial Services during the fourth quarter valued at about $2,870,000. HighPoint Advisor Group LLC increased its position in shares of Discover Financial Services by 5.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 7,224 shares of the financial services provider’s stock valued at $523,000 after buying an additional 378 shares in the last quarter. Finally, M Holdings Securities Inc. purchased a new position in shares of Discover Financial Services during the fourth quarter valued at about $241,000. 84.46% of the stock is owned by institutional investors.
In other news, COO Roger C. Hochschild sold 15,258 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $62.28, for a total transaction of $950,268.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James V. Panzarino sold 9,500 shares of the firm’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $64.34, for a total transaction of $611,230.00. Following the transaction, the executive vice president now directly owns 78,215 shares of the company’s stock, valued at $5,032,353.10. The disclosure for this sale can be found here. Insiders sold a total of 142,600 shares of company stock worth $8,976,046 over the last 90 days. Company insiders own 0.96% of the company’s stock.
Discover Financial Services declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $2.23 billion in shares. This buyback authorization permits the financial services provider to purchase up to 9.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
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