Discover Financial Services (NYSE:DFS) – Analysts at William Blair increased their FY2017 earnings estimates for Discover Financial Services in a report issued on Tuesday. William Blair analyst R. Napoli now expects that the financial services provider will post earnings of $5.99 per share for the year, up from their previous forecast of $5.90. William Blair also issued estimates for Discover Financial Services’ Q4 2017 earnings at $1.55 EPS, Q3 2018 earnings at $1.93 EPS, FY2018 earnings at $7.35 EPS and FY2019 earnings at $8.10 EPS.
A number of other research analysts also recently weighed in on the company. Barclays set a $95.00 price target on Discover Financial Services and gave the company a “buy” rating in a research note on Friday, January 12th. Jefferies Group reaffirmed a “buy” rating and set a $91.00 price objective on shares of Discover Financial Services in a research note on Thursday, January 11th. Royal Bank of Canada reaffirmed a “buy” rating and set a $107.00 price objective on shares of Discover Financial Services in a research note on Tuesday, January 9th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $83.00 price objective (up previously from $69.00) on shares of Discover Financial Services in a research note on Tuesday, January 9th. Finally, Stephens set a $73.00 price objective on Discover Financial Services and gave the stock a “sell” rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $80.76.
Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.06. Discover Financial Services had a return on equity of 21.01% and a net margin of 20.04%.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.79%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.05%.
In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $76.78, for a total transaction of $1,171,509.24. Following the completion of the transaction, the chief operating officer now owns 723,666 shares in the company, valued at approximately $55,563,075.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $76.81, for a total value of $307,240.00. Following the transaction, the executive vice president now owns 134,744 shares of the company’s stock, valued at approximately $10,349,686.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,277 shares of company stock valued at $12,673,925. Corporate insiders own 0.96% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in DFS. Grove Bank & Trust grew its holdings in shares of Discover Financial Services by 2,483.3% in the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,490 shares in the last quarter. Rational Advisors LLC bought a new position in shares of Discover Financial Services in the 3rd quarter valued at about $123,000. Americafirst Capital Management LLC bought a new position in shares of Discover Financial Services in the 3rd quarter valued at about $140,000. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of Discover Financial Services in the 2nd quarter valued at about $157,000. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of Discover Financial Services in the 2nd quarter valued at about $170,000. Hedge funds and other institutional investors own 84.78% of the company’s stock.
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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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