Analysts Expect Discover Financial Services (DFS) Will Announce Quarterly Sales of $1.85 Billion

Equities analysts forecast that Discover Financial Services (NYSE:DFS) will announce $1.85 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Discover Financial Services’ earnings, with the lowest sales estimate coming in at $1.84 billion and the highest estimate coming in at $1.86 billion. Discover Financial Services posted sales of $2.36 billion during the same quarter last year, which would indicate a negative year over year growth rate of 21.6%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, January 24th.

According to Zacks, analysts expect that Discover Financial Services will report full-year sales of $1.85 billion for the current financial year, with estimates ranging from $7.22 billion to $7.25 billion. For the next fiscal year, analysts expect that the company will report sales of $7.58 billion per share, with estimates ranging from $7.38 billion to $7.93 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Discover Financial Services.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.06. Discover Financial Services had a net margin of 20.04% and a return on equity of 21.01%.

A number of research analysts have commented on the stock. Jefferies Group reiterated a “buy” rating and set a $91.00 price target on shares of Discover Financial Services in a research report on Thursday, January 11th. Barclays set a $95.00 price target on shares of Discover Financial Services and gave the company a “buy” rating in a research report on Friday, January 12th. ValuEngine upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Stephens set a $73.00 price target on shares of Discover Financial Services and gave the company a “sell” rating in a research report on Tuesday, January 2nd. Finally, Zacks Investment Research cut shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Discover Financial Services presently has a consensus rating of “Buy” and a consensus target price of $80.76.

In related news, CFO R. Mark Graf sold 16,503 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $66.67, for a total value of $1,100,255.01. Following the completion of the sale, the chief financial officer now owns 82,402 shares of the company’s stock, valued at $5,493,741.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $66.80, for a total value of $2,004,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,277 shares of company stock valued at $12,673,925. Insiders own 0.96% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Discover Financial Services by 0.9% in the second quarter. Vanguard Group Inc. now owns 25,748,479 shares of the financial services provider’s stock worth $1,601,297,000 after acquiring an additional 217,535 shares during the period. Boston Partners lifted its stake in Discover Financial Services by 4.6% in the third quarter. Boston Partners now owns 12,187,219 shares of the financial services provider’s stock worth $785,833,000 after acquiring an additional 538,244 shares during the period. Capital World Investors lifted its stake in Discover Financial Services by 18.3% in the second quarter. Capital World Investors now owns 10,578,342 shares of the financial services provider’s stock worth $657,867,000 after acquiring an additional 1,638,334 shares during the period. FMR LLC lifted its stake in Discover Financial Services by 17.4% in the second quarter. FMR LLC now owns 10,374,397 shares of the financial services provider’s stock worth $645,184,000 after acquiring an additional 1,534,882 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its stake in Discover Financial Services by 97.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock worth $453,619,000 after acquiring an additional 3,475,126 shares during the period. 84.78% of the stock is owned by institutional investors.

Shares of Discover Financial Services (NYSE:DFS) traded up $0.10 during midday trading on Friday, reaching $78.32. 4,281,252 shares of the company’s stock were exchanged, compared to its average volume of 1,709,696. Discover Financial Services has a twelve month low of $57.50 and a twelve month high of $81.23. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $28,423.63, a PE ratio of 13.46, a P/E/G ratio of 1.27 and a beta of 1.52.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.79%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.05%.

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

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