Discover Financial Services (NYSE:DFS) - Stock analysts at William Blair decreased their Q4 2017 earnings per share estimates for shares of Discover Financial Services in a research note issued on Tuesday. William Blair analyst R. Napoli now forecasts that the financial services provider will earn $1.41 per share for the quarter, down from their prior estimate of $1.48. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Discover Financial Services’ Q2 2018 earnings at $1.64 EPS, Q3 2018 earnings at $1.70 EPS and Q4 2018 earnings at $1.65 EPS.
DFS has been the subject of several other reports. Deutsche Bank AG cut Discover Financial Services from a “buy” rating to a “hold” rating and reduced their target price for the stock from $87.00 to $71.00 in a research report on Monday, May 1st. Instinet reiterated a “buy” rating and issued a $86.00 price objective (down from $88.00) on shares of Discover Financial Services in a report on Saturday, April 29th. BidaskClub upgraded Discover Financial Services from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $82.00 price objective on shares of Discover Financial Services in a report on Friday, June 16th. Finally, Rafferty Capital Markets reiterated a “hold” rating and issued a $70.00 price objective on shares of Discover Financial Services in a report on Wednesday, March 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $75.56.
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Discover Financial Services (DFS) traded up 2.09% during mid-day trading on Thursday, hitting $62.65. The stock had a trading volume of 2,298,655 shares. Discover Financial Services has a 52 week low of $53.91 and a 52 week high of $74.33. The company’s 50 day moving average is $60.75 and its 200-day moving average is $65.59. The stock has a market capitalization of $23.82 billion, a P/E ratio of 10.70 and a beta of 1.47.
Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, April 25th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.36 billion. Discover Financial Services had a return on equity of 21.86% and a net margin of 22.08%. Discover Financial Services’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.35 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. V Wealth Management LLC acquired a new stake in shares of Discover Financial Services during the second quarter valued at approximately $101,000. Orrstown Financial Services Inc. increased its stake in shares of Discover Financial Services by 64.2% in the first quarter. Orrstown Financial Services Inc. now owns 1,716 shares of the financial services provider’s stock valued at $117,000 after buying an additional 671 shares in the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of Discover Financial Services during the first quarter valued at approximately $124,000. Perigon Wealth Management LLC increased its stake in shares of Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock valued at $147,000 after buying an additional 48 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Discover Financial Services during the first quarter valued at approximately $183,000. 84.46% of the stock is owned by institutional investors.
In related news, EVP Julie A. Loeger sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $62.54, for a total transaction of $312,700.00. Following the completion of the transaction, the executive vice president now owns 28,345 shares of the company’s stock, valued at approximately $1,772,696.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James V. Panzarino sold 9,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $64.34, for a total value of $611,230.00. Following the transaction, the executive vice president now directly owns 78,215 shares of the company’s stock, valued at approximately $5,032,353.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,600 shares of company stock valued at $8,976,046. 0.96% of the stock is owned by corporate insiders.
Discover Financial Services announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $2.23 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 9.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Discover Financial Services Company Profile
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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