Discover Financial Services (NYSE:DFS) – Investment analysts at Wedbush dropped their FY2018 earnings per share (EPS) estimates for shares of Discover Financial Services in a research report issued to clients and investors 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 $8.00 for the year, down from their previous estimate 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.
Discover Financial Services (NYSE:DFS) last released its earnings results 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. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $1.85 billion. Discover Financial Services had a return on equity of 21.49% and a net margin of 17.95%.
DFS has been the subject of several other reports. JMP Securities upped their target price on Discover Financial Services to $91.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Zacks Investment Research lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Deutsche Bank assumed coverage on Discover Financial Services in a report on Tuesday, January 2nd. They issued a “buy” rating and a $92.00 target price for the company. Bank of America raised 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, BMO Capital Markets reduced their target price on Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Discover Financial Services currently has a consensus rating of “Buy” and a consensus target price of $84.88.
Shares of DFS stock traded down $1.79 during trading on Thursday, hitting $70.34. The company’s stock had a trading volume of 1,509,695 shares, compared to its average volume of 2,283,848. The firm has a market cap of $24,953.61, a PE ratio of 11.76, a P/E/G ratio of 1.04 and a beta of 1.46. 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.
In other Discover Financial Services news, SVP Daniel Peter Capozzi sold 5,000 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $79.97, for a total transaction of $399,850.00. Following the sale, the senior vice president now owns 23,977 shares in the company, valued at $1,917,440.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $70.08, for a total value of $2,102,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 29,000 shares of company stock worth $8,670 and have sold 253,675 shares worth $19,571,644. Corporate insiders own 0.81% of the company’s stock.
Several large investors have recently bought and sold shares of DFS. Hotchkis & Wiley Capital Management LLC raised its position in shares of Discover Financial Services by 84.2% in the third 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 in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Discover Financial Services by 273.7% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,509,493 shares of the financial services provider’s stock worth $193,030,000 after buying an additional 1,837,913 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Discover Financial Services in the fourth quarter worth $76,302,000. TD Asset Management Inc. raised its position in shares of Discover Financial Services by 71.9% in the third quarter. TD Asset Management Inc. now owns 1,975,814 shares of the financial services provider’s stock worth $127,401,000 after buying an additional 826,606 shares in the last quarter. Finally, Element Capital Management LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter worth $48,135,000. Hedge funds and other institutional investors own 86.37% of the company’s stock.
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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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