Discover Financial Services (NYSE:DFS – Get Rating) is expected to release its quarterly results after market close on Monday, October 24. Analysts expect Discover Financial Services to post earnings of $3.73 per share for the quarter. Those interested in registering for the company’s earnings conference call can do so using this link.
Discover Financial Services (NYSE:DFS – Get Rating) last released its quarterly earnings data on Wednesday, July 20. The financial services provider reported EPS of $3.96 for the quarter, beating consensus analyst estimates of $3.75 by $0.21. Discover Financial Services recorded a return on equity of 36.35% and a net margin of 34.89%. The company posted revenue of $3.22 billion in the quarter, versus a consensus estimate of $3.18 billion. In the same quarter a year earlier, the company posted earnings of $5.55 per share. The company’s revenue was down 9.9% year over year. On average, analysts expect Discover Financial Services to post EPS of $15 for the current fiscal year and EPS of $14 for the next fiscal year.
Check out financial services stocks down 3.1%
Shares of Discover Financial Services opened at $91.20 on Monday. Discover Financial Services has a 1-year minimum of $87.64 and a 1-year maximum of $133.40. The company has a 50-day moving average of $99.68 and a two-hundred-day moving average of $103.33. The company has a market capitalization of $24.91 billion, a P/E ratio of 5.94, a price-to-earnings growth ratio of 0.21 and a beta of 1.40. The company has a debt ratio of 1.43, a current ratio of 1.26 and a quick ratio of 1.26.
Check out the financial services dividend announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 8. Shareholders of record on Thursday, August 25 received a dividend of $0.60. The ex-dividend date was Wednesday, August 24. This represents an annualized dividend of $2.40 and a dividend yield of 2.63%. Discover Financial Services’ dividend payout ratio (DPR) is currently 15.63%.
Analyst upgrades and downgrades
Several equity research analysts have published reports on DFS shares. Deutsche Bank Aktiengesellschaft lowered its price target on Discover Financial Services from $150.00 to $140.00 in a Friday, July 22 report. Stephens raised his price target on Discover Financial Services to $107.00 in a Tuesday, September 20 report. Wells Fargo & Company cut its price target on Discover Financial Services from $130.00 to $103.00 and set an “equal weight” rating for the company in a Wednesday, July 13 report. Credit Suisse Group lowered its price target on Discover Financial Services to $120.00 in a report on Thursday. Finally, Barclays cut its price target on Discover Financial Services from $133.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday. Eight equity research analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.63.
Institutional entries and exits
Major investors have recently been buying and selling stocks. Walleye Capital LLC acquired a new stake in shares of Discover Financial Services in the first quarter worth approximately $366,000. Toroso Investments LLC raised its position in shares of Discover Financial Services by 3.1% in the first quarter. Toroso Investments LLC now owns 3,299 shares of the financial services provider valued at $364,000 after buying 98 additional shares in the last quarter. Loomis Sayles & Co. LP increased its position in shares of Discover Financial Services by 5.2% in the first quarter. Loomis Sayles & Co. LP now owns 2,961 shares of the financial services provider valued at $326,000 after buying 146 additional shares in the last quarter. Horizon Investments LLC raised its position in shares of Discover Financial Services by 25.5% in the first quarter. Horizon Investments LLC now owns 2,950 shares of the financial services provider valued at $325,000 after buying an additional 599 shares in the last quarter. Finally, XTX Topco Ltd acquired a new equity stake in Discover Financial Services in the first quarter worth approximately $293,000. 83.92% of the shares are held by institutional investors and hedge funds.
About Explore Financial Services
(Get an assessment)
Discover Financial Services, through its subsidiaries, provides digital banking products and services and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans and other consumer loans; and direct-to-consumer deposit products including savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings and checking accounts, and money transfer accounts.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to firstname.lastname@example.org.
Before you consider exploring financial services, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and Discover Financial Services was not on the list.
Although Discover Financial Services currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here