Oppenheimer Analysts Reduce Earnings Estimates for Discover Financial Services (DFS)
Discover Financial Services (NYSE:DFS) – Equities research analysts at Oppenheimer lowered their Q4 2017 EPS estimates for Discover Financial Services in a research note issued to investors on Tuesday. Oppenheimer analyst B. Chittenden now forecasts that the financial services provider will post earnings per share of $1.55 for the quarter, down from their previous forecast of $1.59. Oppenheimer has a “Buy” rating and a $71.00 price objective on the stock. Oppenheimer also issued estimates for Discover Financial Services’ Q1 2018 earnings at $1.76 EPS.
A number of other equities research analysts have also recently weighed in on DFS. Stephens set a $73.00 price objective on Discover Financial Services and gave the company a “sell” rating in a research note on Tuesday. Deutsche Bank began coverage on Discover Financial Services in a report on Tuesday. They issued a “buy” rating and a $92.00 target price on the stock. Zacks Investment Research lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine raised Discover Financial Services from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Finally, Buckingham Research initiated coverage on Discover Financial Services in a report on Monday, October 2nd. They issued a “buy” rating and a $74.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $78.24.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. Discover Financial Services’s payout ratio is 24.10%.
In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $66.80, for a total value of $2,004,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Diane E. Offereins sold 15,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the sale, the executive vice president now directly owns 160,747 shares of the company’s stock, valued at approximately $11,310,158.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,019 shares of company stock valued at $8,892,976. Insiders own 0.96% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of DFS. Pacer Advisors Inc. increased its stake in Discover Financial Services by 8.2% during the second quarter. Pacer Advisors Inc. now owns 9,099 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 693 shares during the period. Atlantic Trust Group LLC increased its stake in Discover Financial Services by 1.6% during the second quarter. Atlantic Trust Group LLC now owns 25,591 shares of the financial services provider’s stock valued at $1,591,000 after acquiring an additional 406 shares during the period. LSV Asset Management grew its stake in shares of Discover Financial Services by 1.6% in the 2nd quarter. LSV Asset Management now owns 6,472,520 shares of the financial services provider’s stock valued at $402,525,000 after purchasing an additional 103,554 shares during the period. IFM Investors Pty Ltd bought a new stake in shares of Discover Financial Services in the 2nd quarter valued at approximately $669,000. Finally, Schroder Investment Management Group grew its stake in shares of Discover Financial Services by 12.4% in the 2nd quarter. Schroder Investment Management Group now owns 2,335,187 shares of the financial services provider’s stock valued at $143,638,000 after purchasing an additional 257,079 shares during the period. Hedge funds and other institutional investors own 84.77% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Oppenheimer Analysts Reduce Earnings Estimates for Discover Financial Services (DFS)” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/01/04/oppenheimer-analysts-reduce-earnings-estimates-for-discover-financial-services-dfs.html.
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.
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.