Brokerages Anticipate Discover Financial Services (DFS) Will Post Earnings of $1.53 Per Share

Wall Street analysts forecast that Discover Financial Services (NYSE:DFS) will post earnings per share of $1.53 for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Discover Financial Services’ earnings, with the lowest EPS estimate coming in at $1.46 and the highest estimate coming in at $1.58. Discover Financial Services reported earnings of $1.40 per share during the same quarter last year, which indicates a positive year over year growth rate of 9.3%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, January 24th.

On average, analysts expect that Discover Financial Services will report full-year earnings of $5.93 per share for the current financial year, with EPS estimates ranging from $5.86 to $6.00. For the next fiscal year, analysts anticipate that the company will report earnings of $6.57 per share, with EPS estimates ranging from $6.33 to $6.80. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Discover Financial Services.

Several equities research analysts recently issued reports on DFS shares. Morgan Stanley cut their price objective on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, September 8th. BMO Capital Markets cut their price objective on shares of Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating for the company in a research report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Bank of America raised their price objective on shares of Discover Financial Services from $67.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Royal Bank of Canada restated a “buy” rating and set a $86.00 price objective on shares of Discover Financial Services in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $78.24.

In other news, EVP Carlos Minetti sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $66.68, for a total value of $533,440.00. Following the completion of the transaction, the executive vice president now owns 173,149 shares of the company’s stock, valued at $11,545,575.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO R. Mark Graf sold 16,503 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $66.67, for a total transaction of $1,100,255.01. Following the completion of the transaction, the chief financial officer now directly owns 82,402 shares of the company’s stock, valued at approximately $5,493,741.34. The disclosure for this sale can be found here. In the last three months, insiders sold 179,277 shares of company stock valued at $12,673,925. Insiders own 0.96% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Grove Bank & Trust boosted its stake in shares of Discover Financial Services by 2,483.3% in the third quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,490 shares during the period. Rational Advisors LLC purchased a new position in shares of Discover Financial Services in the third quarter valued at approximately $123,000. Americafirst Capital Management LLC purchased a new position in shares of Discover Financial Services in the third quarter valued at approximately $140,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of Discover Financial Services in the second quarter valued at approximately $157,000. Finally, San Francisco Sentry Investment Group CA purchased a new position in shares of Discover Financial Services in the second quarter valued at approximately $170,000. 84.77% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services (NYSE DFS) traded up $0.77 during trading on Monday, reaching $78.25. 1,982,129 shares of the company traded hands, compared to its average volume of 2,346,033. Discover Financial Services has a 52-week low of $57.50 and a 52-week high of $78.83. The firm has a market capitalization of $28,430.00, a PE ratio of 13.47, a P/E/G ratio of 1.83 and a beta of 1.52. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Tuesday, November 21st. Discover Financial Services’s payout ratio is 24.10%.

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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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