Discover Financial Services Forecasted to Post Q1 2018 Earnings of $1.80 Per Share (DFS)

Discover Financial Services (NYSE:DFS) – Investment analysts at Wedbush lowered their Q1 2018 earnings per share estimates for shares of Discover Financial Services in a research report issued on Monday, March 12th, according to Zacks Investment Research. Wedbush analyst H. Coffey now expects that the financial services provider will post earnings per share of $1.80 for the quarter, down from their previous estimate of $1.88. Wedbush currently has a “Buy” rating and a $80.00 price target on the stock. Wedbush also issued estimates for Discover Financial Services’ Q2 2018 earnings at $1.91 EPS, Q1 2019 earnings at $2.23 EPS and Q2 2019 earnings at $2.23 EPS.

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DFS has been the topic of several other reports. Zacks Investment Research downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Barclays set a $95.00 price objective on Discover Financial Services and gave the company a “buy” rating in a research report on Friday, January 12th. Bank of America upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Monday, December 18th. UBS started coverage on Discover Financial Services in a research report on Tuesday, March 27th. They issued a “sell” rating and a $70.00 price objective on the stock. Finally, Deutsche Bank started coverage on Discover Financial Services in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $92.00 price objective on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $84.88.

Shares of NYSE:DFS traded down $1.79 on Wednesday, hitting $70.34. The company had a trading volume of 1,509,695 shares, compared to its average volume of 2,283,848. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.55. Discover Financial Services has a 52-week low of $57.50 and a 52-week high of $81.93. The company has a market capitalization of $25,588.61, a P/E ratio of 11.76, a P/E/G ratio of 1.06 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $1.85 billion. Discover Financial Services had a return on equity of 21.49% and a net margin of 17.95%.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.40 annualized dividend and a yield of 1.99%. Discover Financial Services’s dividend payout ratio is presently 23.41%.

In other Discover Financial Services news, SVP Daniel Peter Capozzi sold 5,000 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $79.97, for a total transaction of $399,850.00. Following the completion of the sale, the senior vice president now directly owns 23,977 shares in the company, valued at $1,917,440.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger C. Hochschild sold 15,259 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $69.70, for a total value of $1,063,552.30. Following the sale, the chief operating officer now owns 717,160 shares of the company’s stock, valued at $49,986,052. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 29,000 shares of company stock valued at $8,670 and have sold 253,675 shares valued at $19,571,644. Corporate insiders own 0.81% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. DnB Asset Management AS grew its stake in shares of Discover Financial Services by 1.7% in the fourth quarter. DnB Asset Management AS now owns 40,715 shares of the financial services provider’s stock valued at $3,132,000 after buying an additional 700 shares in the last quarter. Atlantic Trust Group LLC grew its stake in shares of Discover Financial Services by 2.9% in the third quarter. Atlantic Trust Group LLC now owns 26,329 shares of the financial services provider’s stock valued at $1,697,000 after buying an additional 738 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Discover Financial Services by 9.9% in the fourth quarter. Rehmann Capital Advisory Group now owns 8,203 shares of the financial services provider’s stock valued at $631,000 after buying an additional 738 shares in the last quarter. Piedmont Investment Advisors LLC grew its stake in shares of Discover Financial Services by 1.8% in the third quarter. Piedmont Investment Advisors LLC now owns 44,307 shares of the financial services provider’s stock valued at $2,857,000 after buying an additional 804 shares in the last quarter. Finally, Wetherby Asset Management Inc. grew its stake in shares of Discover Financial Services by 9.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 9,425 shares of the financial services provider’s stock valued at $725,000 after buying an additional 813 shares in the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.

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About Discover Financial Services

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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