Analysts forecast that Discover Financial Services (NYSE:DFS) will announce $1.55 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Discover Financial Services’ earnings. The highest EPS estimate is $1.59 and the lowest is $1.45. Discover Financial Services posted earnings of $1.56 per share in the same quarter last year, which would indicate a negative year over year growth rate of 0.6%. The firm is scheduled to announce its next earnings report on Tuesday, October 24th.

On average, analysts expect that Discover Financial Services will report full year earnings of $5.89 per share for the current year, with EPS estimates ranging from $5.68 to $5.97. For the next year, analysts forecast that the business will post earnings of $6.54 per share, with EPS estimates ranging from $6.28 to $6.70. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Discover Financial Services.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing the Zacks’ consensus estimate of $1.45 by $0.05. Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the firm earned $1.47 EPS. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year.

DFS has been the topic of a number of research reports. Instinet restated a “buy” rating and set a $86.00 price target (down previously from $88.00) on shares of Discover Financial Services in a research note on Saturday, April 29th. Keefe, Bruyette & Woods restated a “buy” rating and set a $84.00 price target on shares of Discover Financial Services in a research note on Monday, April 10th. Wells Fargo & Company restated an “outperform” rating and set a $70.00 price target (down previously from $80.00) on shares of Discover Financial Services in a research note on Sunday, May 21st. ValuEngine downgraded Discover Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Deutsche Bank AG downgraded Discover Financial Services from a “buy” rating to a “hold” rating and dropped their price target for the stock from $87.00 to $71.00 in a research note on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $74.21.

COPYRIGHT VIOLATION NOTICE: This story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/08/07/discover-financial-services-dfs-expected-to-announce-earnings-of-1-55-per-share.html.

Shares of Discover Financial Services (NYSE DFS) opened at 61.04 on Monday. The company’s 50 day moving average price is $61.27 and its 200-day moving average price is $64.93. Discover Financial Services has a 12-month low of $53.91 and a 12-month high of $74.33. The firm has a market cap of $22.73 billion, a P/E ratio of 10.53 and a beta of 1.46.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 24th will be issued a $0.35 dividend. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 20.73%.

Discover Financial Services announced that its board has approved a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.23 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In related news, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $62.48, for a total transaction of $953,319.84. Following the completion of the transaction, the chief operating officer now directly owns 830,257 shares of the company’s stock, valued at $51,874,457.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Carlos Minetti sold 8,000 shares of Discover Financial Services stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $62.42, for a total value of $499,360.00. Following the transaction, the executive vice president now directly owns 205,149 shares of the company’s stock, valued at $12,805,400.58. The disclosure for this sale can be found here. Insiders sold a total of 107,744 shares of company stock valued at $6,658,830 over the last three months. Insiders own 0.96% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Discover Financial Services by 1.1% in the first quarter. Quadrant Capital Group LLC now owns 4,296 shares of the financial services provider’s stock valued at $287,000 after buying an additional 46 shares in the last quarter. LVM Capital Management Ltd. MI boosted its position in shares of Discover Financial Services by 9.1% in the first quarter. LVM Capital Management Ltd. MI now owns 82,952 shares of the financial services provider’s stock valued at $5,673,000 after buying an additional 6,900 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Discover Financial Services by 10.6% in the first quarter. Bank of Montreal Can now owns 5,427,026 shares of the financial services provider’s stock valued at $371,154,000 after buying an additional 520,197 shares in the last quarter. Orrstown Financial Services Inc. boosted its position in shares of 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 valued at $117,000 after buying an additional 671 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of Discover Financial Services during the first quarter valued at about $359,000. 84.14% of the stock is owned by hedge funds and other institutional investors.

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.

Get a free copy of the Zacks research report on Discover Financial Services (DFS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Discover Financial Services (NYSE:DFS)

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.