Discover Financial Services (NYSE:DFS) Raised to Sell at ValuEngine

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Discover Financial Services (NYSE:DFS) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday, ValuEngine reports.

Several other research firms have also recently commented on DFS. JPMorgan Chase & Co. raised their target price on Discover Financial Services from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Nomura reaffirmed a “hold” rating and set a $89.00 target price on shares of Discover Financial Services in a research note on Monday. Deutsche Bank reaffirmed a “hold” rating and set a $95.00 target price (down previously from $97.00) on shares of Discover Financial Services in a research note on Friday. Credit Suisse Group raised their target price on Discover Financial Services from $98.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler cut Discover Financial Services from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $96.00 to $86.00 in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Discover Financial Services has an average rating of “Hold” and a consensus target price of $87.00.

Shares of DFS stock opened at $73.91 on Tuesday. The stock has a market cap of $23.91 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 1.10 and a beta of 1.61. The stock has a 50-day moving average of $83.97 and a 200-day moving average of $82.72. The company has a current ratio of 1.08, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. Discover Financial Services has a 1-year low of $65.81 and a 1-year high of $92.98.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.01. Discover Financial Services had a return on equity of 26.25% and a net margin of 20.94%. The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the firm posted $2.03 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Discover Financial Services will post 9.38 earnings per share for the current year.

In other news, EVP Wanjiku Juanita Walcott purchased 3,400 shares of the business’s stock in a transaction on Monday, January 27th. The shares were acquired at an average price of $73.95 per share, for a total transaction of $251,430.00. Following the completion of the acquisition, the executive vice president now owns 91,149 shares in the company, valued at $6,740,468.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Roger C. Hochschild purchased 15,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was purchased at an average price of $74.12 per share, for a total transaction of $1,111,800.00. Following the acquisition, the chief executive officer now owns 849,085 shares of the company’s stock, valued at approximately $62,934,180.20. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 21,777 shares of company stock worth $1,612,588. Corporate insiders own 0.81% of the company’s stock.

A number of large investors have recently made changes to their positions in DFS. Executive Wealth Management LLC boosted its holdings in Discover Financial Services by 122.4% in the third quarter. Executive Wealth Management LLC now owns 367 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 202 shares in the last quarter. Truewealth LLC boosted its holdings in Discover Financial Services by 861.1% in the fourth quarter. Truewealth LLC now owns 346 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 310 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new position in Discover Financial Services in the third quarter worth approximately $35,000. Quest Capital Management Inc. ADV bought a new position in shares of Discover Financial Services in the third quarter valued at approximately $44,000. Finally, Resources Management Corp CT ADV bought a new position in shares of Discover Financial Services in the third quarter valued at approximately $55,000. Institutional investors and hedge funds own 84.57% of the company’s stock.

Discover Financial Services Company Profile

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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