Somewhat Favorable News Coverage Somewhat Unlikely to Impact Discover Financial Services (DFS) Stock Price

News coverage about Discover Financial Services (NYSE:DFS) has trended somewhat positive this week, according to Accern Sentiment. Accern ranks the sentiment of news coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Discover Financial Services earned a coverage optimism score of 0.05 on Accern’s scale. Accern also gave media headlines about the financial services provider an impact score of 47.9920172613736 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

These are some of the media headlines that may have effected Accern Sentiment’s analysis:

DFS has been the subject of several recent research reports. Zacks Investment Research cut Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday. Wells Fargo & Company initiated coverage on Discover Financial Services in a report on Tuesday, October 10th. They set a “market perform” rating and a $69.00 price objective for the company. Buckingham Research initiated coverage on Discover Financial Services in a report on Monday, October 2nd. They set a “buy” rating and a $74.00 price objective for the company. Bank of America Corporation cut Discover Financial Services from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $63.00 in a report on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. set a $69.00 price objective on Discover Financial Services and gave the stock a “buy” rating in a report on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $73.58.

Discover Financial Services (DFS) opened at 67.39 on Wednesday. The firm has a market capitalization of $25.09 billion, a price-to-earnings ratio of 11.63 and a beta of 1.47. The company has a 50 day moving average price of $62.79 and a 200 day moving average price of $61.61. Discover Financial Services has a 12 month low of $55.01 and a 12 month high of $74.33.

Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, October 24th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.02). Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the business earned $1.56 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts anticipate that Discover Financial Services will post $5.92 earnings per share for the current fiscal year.

Discover Financial Services announced that its board has approved a stock repurchase program on Wednesday, June 28th that allows the company to buyback $2.23 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.40 annualized dividend and a yield of 2.08%. Discover Financial Services’s dividend payout ratio is currently 24.18%.

In related news, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $59.10, for a total transaction of $1,773,000.00. Following the completion of the sale, the chief executive officer now owns 1,529,912 shares of the company’s stock, valued at $90,417,799.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger C. Hochschild sold 15,258 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $64.87, for a total value of $989,786.46. The disclosure for this sale can be found here. Insiders have sold 157,002 shares of company stock valued at $9,694,424 in the last ninety days. 0.96% of the stock is currently owned by insiders.

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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.

Insider Buying and Selling by Quarter for Discover Financial Services (NYSE:DFS)

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