Discover Financial Services (DFS) Expected to Announce Quarterly Sales of $2.54 Billion

Analysts forecast that Discover Financial Services (NYSE:DFS) will report $2.54 billion in sales for the current quarter, according to Zacks. Six analysts have made estimates for Discover Financial Services’ earnings. The highest sales estimate is $2.61 billion and the lowest is $2.43 billion. Discover Financial Services reported sales of $2.34 billion during the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The business is scheduled to issue its next quarterly earnings results on Tuesday, April 24th.

On average, analysts expect that Discover Financial Services will report full year sales of $2.54 billion for the current year, with estimates ranging from $10.34 billion to $10.77 billion. For the next year, analysts expect that the business will post sales of $11.31 billion per share, with estimates ranging from $10.89 billion to $11.48 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Discover Financial Services.

DFS has been the topic of a number of recent research reports. ValuEngine cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Wells Fargo & Co started coverage on shares of Discover Financial Services in a report on Tuesday, October 10th. They set a “market perform” rating and a $69.00 target price for the company. Barclays set a $95.00 target price on shares of Discover Financial Services and gave the stock a “buy” rating in a report on Friday, January 12th. Bank of America upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $83.00 target price for the company in a report on Monday, December 18th. Finally, Deutsche Bank started coverage on shares of Discover Financial Services in a report on Tuesday, January 2nd. They set a “buy” rating and a $92.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $85.61.

In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $70.15, for a total value of $2,104,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,441,912 shares in the company, valued at $101,150,126.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Edward W. Mcgrogan sold 2,435 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $81.63, for a total transaction of $198,769.05. Following the completion of the sale, the senior vice president now owns 12,033 shares of the company’s stock, valued at $982,253.79. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 55,000 shares of company stock valued at $16,300 and sold 242,673 shares valued at $18,685,542. Company insiders own 0.96% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of DFS. Janus Henderson Group PLC lifted its holdings in shares of Discover Financial Services by 2,756.8% during the second quarter. Janus Henderson Group PLC now owns 1,390,802 shares of the financial services provider’s stock valued at $86,494,000 after purchasing an additional 1,342,118 shares during the last quarter. Sciencast Management LP purchased a new position in shares of Discover Financial Services during the second quarter valued at approximately $373,000. Caxton Associates LP lifted its holdings in shares of Discover Financial Services by 34.4% during the second quarter. Caxton Associates LP now owns 8,200 shares of the financial services provider’s stock valued at $510,000 after purchasing an additional 2,100 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Discover Financial Services by 4.7% during the second quarter. Moors & Cabot Inc. now owns 4,364 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 196 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Discover Financial Services by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,548,515 shares of the financial services provider’s stock valued at $96,302,000 after purchasing an additional 82,704 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Discover Financial Services (DFS) opened at $74.88 on Tuesday. Discover Financial Services has a 12 month low of $57.50 and a 12 month high of $81.93. The stock has a market capitalization of $28,696.17, a PE ratio of 13.23, a PEG ratio of 1.30 and a beta of 1.54. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.08.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.40 annualized dividend and a yield of 1.87%. Discover Financial Services’s dividend payout ratio (DPR) is presently 25.88%.

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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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