Discover Financial Services (NYSE:DFS) – Analysts at Wedbush reduced their FY2018 EPS estimates for Discover Financial Services in a research note issued to investors on Monday. Wedbush analyst H. Coffey now anticipates that the financial services provider will post earnings of $8.00 per share for the year, down from their prior forecast of $8.20. Wedbush currently has a “Buy” rating and a $80.00 target price on the stock. Wedbush also issued estimates for Discover Financial Services’ Q4 2018 earnings at $2.12 EPS and Q4 2019 earnings at $2.24 EPS.
Several other brokerages have also recently issued reports on DFS. Barclays set a $95.00 price objective on shares of Discover Financial Services and gave the company a “buy” rating in a research note on Friday, January 12th. Morgan Stanley upped their price objective on shares of Discover Financial Services from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Instinet dropped their price objective on shares of Discover Financial Services from $96.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Argus raised shares of Discover Financial Services from an “average” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Friday, January 26th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $85.61.
Shares of Discover Financial Services (NYSE:DFS) opened at $76.54 on Thursday. Discover Financial Services has a one year low of $57.50 and a one year high of $81.93. The stock has a market cap of $26,738.03, a PE ratio of 14.15, a P/E/G ratio of 1.24 and a beta of 1.49. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.51 and a current ratio of 1.51.
Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.02. Discover Financial Services had a net margin of 17.95% and a return on equity of 21.49%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $1.85 billion.
Several hedge funds have recently modified their holdings of the company. LSV Asset Management lifted its holdings in shares of Discover Financial Services by 3.5% in the 4th quarter. LSV Asset Management now owns 6,898,150 shares of the financial services provider’s stock worth $530,605,000 after acquiring an additional 234,467 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Discover Financial Services by 84.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,904,200 shares of the financial services provider’s stock worth $380,703,000 after buying an additional 2,698,700 shares during the period. Bessemer Group Inc. increased its stake in Discover Financial Services by 4.3% during the 4th quarter. Bessemer Group Inc. now owns 3,836,438 shares of the financial services provider’s stock worth $295,099,000 after buying an additional 159,496 shares during the period. Epoch Investment Partners Inc. increased its stake in Discover Financial Services by 16.8% during the 3rd quarter. Epoch Investment Partners Inc. now owns 3,091,274 shares of the financial services provider’s stock worth $199,326,000 after buying an additional 444,325 shares during the period. Finally, Eaton Vance Management increased its stake in Discover Financial Services by 18.6% during the 4th quarter. Eaton Vance Management now owns 2,782,209 shares of the financial services provider’s stock worth $214,007,000 after buying an additional 436,199 shares during the period. Hedge funds and other institutional investors own 86.88% of the company’s stock.
In other news, EVP Kathryn Mcnamara Corley sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $76.81, for a total value of $307,240.00. Following the transaction, the executive vice president now directly owns 134,744 shares in the company, valued at approximately $10,349,686.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $76.74, for a total transaction of $2,302,200.00. Following the completion of the transaction, the chief executive officer now owns 1,409,912 shares in the company, valued at $108,196,646.88. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 29,000 shares of company stock worth $8,670 and sold 242,674 shares worth $19,140,541. Corporate insiders own 0.96% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.40 annualized dividend and a dividend yield of 1.83%. Discover Financial Services’s dividend payout ratio is currently 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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