Discover Financial Services (NYSE:DFS) – Investment analysts at Jefferies Financial Group dropped their Q3 2020 earnings per share (EPS) estimates for shares of Discover Financial Services in a research note issued to investors on Thursday, January 23rd. Jefferies Financial Group analyst J. Hecht now expects that the financial services provider will post earnings per share of $2.42 for the quarter, down from their prior estimate of $2.43. Jefferies Financial Group also issued estimates for Discover Financial Services’ Q4 2020 earnings at $2.43 EPS, FY2020 earnings at $9.11 EPS, Q1 2021 earnings at $2.67 EPS, Q2 2021 earnings at $2.38 EPS, Q3 2021 earnings at $2.30 EPS and Q4 2021 earnings at $2.30 EPS.
DFS has been the topic of a number of other research reports. Wells Fargo & Co lowered their price target on Discover Financial Services from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Friday. JPMorgan Chase & Co. lifted their price target on Discover Financial Services from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley reiterated an “overweight” rating and set a $94.00 price target (down previously from $101.00) on shares of Discover Financial Services in a report on Friday. Deutsche Bank reiterated a “hold” rating and set a $95.00 price target (down previously from $97.00) on shares of Discover Financial Services in a report on Friday. Finally, Evercore ISI downgraded Discover Financial Services from an “in-line” rating to an “underperform” rating and set a $75.00 price target on the stock. in a report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $87.00.
Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.01. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Discover Financial Services had a return on equity of 26.25% and a net margin of 20.94%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 20th will be paid a $0.44 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $1.76 dividend on an annualized basis and a yield of 2.38%. Discover Financial Services’s dividend payout ratio (DPR) is currently 19.38%.
In related news, CEO Roger C. Hochschild purchased 15,000 shares of Discover Financial Services stock in a transaction on Monday, January 27th. The stock was bought at an average price of $74.12 per share, with a total value of $1,111,800.00. Following the completion of the transaction, the chief executive officer now directly owns 849,085 shares of the company’s stock, valued at $62,934,180.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO John Greene purchased 3,377 shares of Discover Financial Services stock in a transaction on Monday, January 27th. The stock was bought at an average cost of $73.84 per share, with a total value of $249,357.68. Following the transaction, the chief financial officer now directly owns 27,502 shares of the company’s stock, valued at $2,030,747.68. The disclosure for this purchase can be found here. Insiders acquired 21,777 shares of company stock worth $1,612,588 in the last 90 days. Corporate insiders own 0.81% of the company’s stock.
Large investors have recently made changes to their positions in the business. Executive Wealth Management LLC lifted its position in shares of 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 buying an additional 202 shares during the last quarter. Truewealth LLC lifted its position in shares of 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 buying an additional 310 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Discover Financial Services in the third quarter worth about $35,000. Quest Capital Management Inc. ADV acquired a new stake in shares of Discover Financial Services in the third quarter worth about $44,000. Finally, Resources Management Corp CT ADV acquired a new stake in shares of Discover Financial Services in the third quarter worth about $55,000. 84.57% of the stock is owned by institutional investors.
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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