Discover Financial Services (DFS) Set to Announce Earnings on Tuesday
Discover Financial Services (NYSE:DFS) will release its earnings data after the market closes on Tuesday, October 24th. Analysts expect Discover Financial Services to post earnings of $1.57 per share for the quarter.
Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.05). Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the firm earned $1.47 EPS. The company’s revenue was up 9.2% on a year-over-year basis. On average, analysts expect Discover Financial Services to post $5.89 EPS for the current fiscal year and $6.51 EPS for the next fiscal year.
Discover Financial Services (NYSE DFS) opened at 65.35 on Tuesday. Discover Financial Services has a 52-week low of $54.45 and a 52-week high of $74.33. The company has a market cap of $24.33 billion, a PE ratio of 11.28 and a beta of 1.47. The firm’s 50-day moving average is $61.57 and its 200-day moving average is $61.67.
Discover Financial Services announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $2.23 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $61.13, for a total value of $1,833,900.00. Following the completion of the transaction, the chief executive officer now owns 1,559,912 shares in the company, valued at approximately $95,357,420.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $64.87, for a total value of $989,786.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,002 shares of company stock valued at $9,694,424. 0.96% of the stock is currently owned by corporate insiders.
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A number of brokerages have issued reports on DFS. Wells Fargo & Company began coverage on Discover Financial Services in a research note on Tuesday, October 10th. They issued a “market perform” rating and a $69.00 target price for the company. Buckingham Research began coverage on Discover Financial Services in a research note on Monday, October 2nd. They issued a “buy” rating and a $74.00 target price for the company. Bank of America Corporation downgraded Discover Financial Services from a “buy” rating to a “neutral” rating and cut their target price for the stock from $67.00 to $63.00 in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. set a $69.00 target price on Discover Financial Services and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, Zacks Investment Research downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. Discover Financial Services currently has an average rating of “Hold” and a consensus price target of $73.58.
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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