Q2 2018 Earnings Estimate for Discover Financial Services Issued By Jefferies Group (DFS)

Discover Financial Services (NYSE:DFS) – Jefferies Group boosted their Q2 2018 earnings per share estimates for Discover Financial Services in a research note issued on Wednesday, May 16th. Jefferies Group analyst J. Hecht now expects that the financial services provider will post earnings of $1.84 per share for the quarter, up from their prior forecast of $1.83. Jefferies Group also issued estimates for Discover Financial Services’ Q4 2018 earnings at $2.05 EPS and Q3 2019 earnings at $2.24 EPS.

Several other equities research analysts have also recently commented on the stock. Oppenheimer boosted their price objective on shares of Discover Financial Services from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stephens raised shares of Discover Financial Services from an “underweight” rating to an “equal” rating and set a $73.00 price objective on the stock in a research report on Monday, April 9th. Citigroup initiated coverage on shares of Discover Financial Services in a research report on Thursday, April 5th. They issued a “neutral” rating and a $78.00 price objective on the stock. Zacks Investment Research cut shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, March 28th. Finally, Goldman Sachs cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Monday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Discover Financial Services currently has an average rating of “Buy” and a consensus target price of $85.43.

Shares of NYSE DFS opened at $77.83 on Friday. The firm has a market cap of $27.02 billion, a PE ratio of 12.18, a PEG ratio of 0.96 and a beta of 1.47. Discover Financial Services has a twelve month low of $76.11 and a twelve month high of $77.17. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 2.55.

Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, April 26th. The financial services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.05. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.58 billion. Discover Financial Services had a net margin of 18.43% and a return on equity of 22.79%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 EPS.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Discover Financial Services by 1.2% during the 1st quarter. BlackRock Inc. now owns 24,203,881 shares of the financial services provider’s stock worth $1,740,986,000 after purchasing an additional 288,682 shares during the last quarter. Boston Partners increased its stake in shares of Discover Financial Services by 1.4% during the 1st quarter. Boston Partners now owns 12,368,650 shares of the financial services provider’s stock worth $889,676,000 after purchasing an additional 168,791 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Discover Financial Services by 6.3% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 7,712,071 shares of the financial services provider’s stock worth $554,729,000 after purchasing an additional 454,282 shares during the last quarter. LSV Asset Management increased its stake in shares of Discover Financial Services by 0.5% during the 1st quarter. LSV Asset Management now owns 6,935,251 shares of the financial services provider’s stock worth $498,852,000 after purchasing an additional 37,101 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of 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 purchasing an additional 159,496 shares during the last quarter. Institutional investors own 87.57% of the company’s stock.

In other news, EVP Diane E. Offereins sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $77.27, for a total transaction of $1,159,050.00. Following the transaction, the executive vice president now directly owns 134,841 shares in the company, valued at approximately $10,419,164.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael H. Moskow sold 2,324 shares of the business’s stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $74.02, for a total transaction of $172,022.48. Following the transaction, the director now owns 50,027 shares in the company, valued at $3,702,998.54. The disclosure for this sale can be found here. Insiders have sold a total of 161,266 shares of company stock worth $11,823,080 over the last 90 days. 0.81% of the stock is owned by company insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 7th. Stockholders of record on Thursday, May 24th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 23rd. This represents a $1.40 annualized dividend and a dividend yield of 1.80%. Discover Financial Services’s dividend payout ratio is presently 23.41%.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

Earnings History and Estimates for Discover Financial Services (NYSE:DFS)

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