$2.82 Billion in Sales Expected for Discover Financial Services (DFS) This Quarter

Analysts forecast that Discover Financial Services (NYSE:DFS) will report $2.82 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Discover Financial Services’ earnings. The highest sales estimate is $2.84 billion and the lowest is $2.78 billion. Discover Financial Services reported sales of $2.61 billion during the same quarter last year, which indicates a positive year over year growth rate of 8%. The company is expected to issue its next quarterly earnings results on Wednesday, January 23rd.

According to Zacks, analysts expect that Discover Financial Services will report full-year sales of $10.72 billion for the current fiscal year, with estimates ranging from $10.69 billion to $10.74 billion. For the next year, analysts expect that the business will report sales of $11.40 billion, with estimates ranging from $11.29 billion to $11.57 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Discover Financial Services.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $2.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.05. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.69 billion. Discover Financial Services had a net margin of 19.51% and a return on equity of 25.49%.

Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Friday, October 5th. Wells Fargo & Co cut their price target on shares of Discover Financial Services from $82.00 to $78.00 and set a “market perform” rating on the stock in a report on Friday, October 26th. ValuEngine upgraded shares of Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Bank of America raised their price target on shares of Discover Financial Services from $86.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 21st. Finally, JPMorgan Chase & Co. upgraded shares of Discover Financial Services from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.40.

In other news, SVP Edward W. Mcgrogan sold 850 shares of Discover Financial Services stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $70.00, for a total transaction of $59,500.00. Following the sale, the senior vice president now owns 12,075 shares in the company, valued at $845,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $77.16, for a total transaction of $2,314,800.00. Following the sale, the chairman now owns 1,180,798 shares in the company, valued at approximately $91,110,373.68. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock worth $7,590,463 in the last quarter. Insiders own 0.81% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its position in shares of Discover Financial Services by 76.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 65,019 shares of the financial services provider’s stock worth $4,578,000 after buying an additional 28,163 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Discover Financial Services by 132.3% during the second quarter. Alps Advisors Inc. now owns 9,096 shares of the financial services provider’s stock worth $700,000 after buying an additional 5,181 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Discover Financial Services by 8,341.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,026 shares of the financial services provider’s stock worth $143,000 after buying an additional 2,002 shares in the last quarter. Smith Asset Management Group LP grew its position in shares of Discover Financial Services by 4.6% during the second quarter. Smith Asset Management Group LP now owns 308,119 shares of the financial services provider’s stock worth $21,726,000 after buying an additional 13,472 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Discover Financial Services by 8.1% during the second quarter. Wells Fargo & Company MN now owns 1,382,340 shares of the financial services provider’s stock worth $97,330,000 after buying an additional 103,288 shares in the last quarter. Institutional investors own 86.26% of the company’s stock.

Shares of DFS stock opened at $64.84 on Friday. The stock has a market cap of $22.30 billion, a PE ratio of 10.84, a P/E/G ratio of 0.68 and a beta of 1.51. Discover Financial Services has a 1-year low of $64.11 and a 1-year high of $81.93. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.48 and a current ratio of 1.48.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 6th. Stockholders of record on Wednesday, November 21st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.47%. Discover Financial Services’s dividend payout ratio is currently 26.76%.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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

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