FY2016 EPS Estimates for Discover Financial Services (DFS) Increased by Analyst
Discover Financial Services (NYSE:DFS) – Investment analysts at Oppenheimer Holdings increased their FY2016 earnings estimates for Discover Financial Services in a report issued on Tuesday. Oppenheimer Holdings analyst B. Chittenden now expects that the firm will earn $5.66 per share for the year, up from their prior estimate of $5.65. Oppenheimer Holdings currently has a “Outperform” rating and a $75.00 price target on the stock.
Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Discover Financial Services had a return on equity of 21.15% and a net margin of 22.41%.
A number of other analysts also recently weighed in on the company. Jefferies Group reiterated a “buy” rating and set a $70.00 price target on shares of Discover Financial Services in a report on Thursday. Wedbush began coverage on Discover Financial Services in a report on Monday. They set a “neutral” rating and a $63.00 price target for the company. Deutsche Bank AG set a $65.00 price target on Discover Financial Services and gave the stock a “buy” rating in a report on Wednesday, October 5th. Barclays PLC downgraded Discover Financial Services from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 7th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Discover Financial Services in a report on Tuesday, August 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. Discover Financial Services presently has an average rating of “Buy” and a consensus price target of $63.69.
Shares of Discover Financial Services (NYSE:DFS) opened at 54.51 on Thursday. Discover Financial Services has a 52-week low of $42.86 and a 52-week high of $60.29. The firm has a market cap of $22.00 billion, a P/E ratio of 10.24 and a beta of 1.20. The company has a 50 day moving average price of $57.65 and a 200-day moving average price of $55.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Thursday, November 3rd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. Discover Financial Services’s dividend payout ratio is 22.47%.
In related news, SVP Edward W. Mcgrogan sold 1,300 shares of Discover Financial Services stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $56.69, for a total value of $73,697.00. Following the completion of the transaction, the senior vice president now directly owns 12,072 shares in the company, valued at approximately $684,361.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Julie A. Loeger sold 5,000 shares of Discover Financial Services stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $56.97, for a total transaction of $284,850.00. Following the completion of the transaction, the executive vice president now owns 28,285 shares of the company’s stock, valued at $1,611,396.45. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Architects Inc raised its position in Discover Financial Services by 724.6% in the second quarter. Financial Architects Inc now owns 1,880 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,652 shares in the last quarter. Evercore Wealth Management LLC raised its position in Discover Financial Services by 24.9% in the second quarter. Evercore Wealth Management LLC now owns 1,989 shares of the financial services provider’s stock worth $107,000 after buying an additional 396 shares in the last quarter. Mycio Wealth Partners LLC raised its position in Discover Financial Services by 43.7% in the second quarter. Mycio Wealth Partners LLC now owns 2,054 shares of the financial services provider’s stock worth $110,000 after buying an additional 625 shares in the last quarter. Advisory Services Network LLC raised its position in Discover Financial Services by 21.0% in the second quarter. Advisory Services Network LLC now owns 2,257 shares of the financial services provider’s stock worth $121,000 after buying an additional 391 shares in the last quarter. Finally, Seven Eight Capital LLC acquired a new position in Discover Financial Services during the second quarter worth $124,000. Institutional investors and hedge funds own 85.42% of the company’s stock.
About Discover Financial Services
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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.
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