Analysts predict that Discover Financial Services (NYSE:DFS) will announce earnings per share (EPS) of $1.55 for the current quarter, according to Zacks. Five analysts have made estimates for Discover Financial Services’ earnings, with estimates ranging from $1.45 to $1.59. Discover Financial Services posted earnings per share of $1.56 in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.6%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 24th.

According to Zacks, analysts expect that Discover Financial Services will report full year earnings of $5.89 per share for the current year, with EPS estimates ranging from $5.68 to $5.97. For the next fiscal year, analysts anticipate that the firm will post earnings of $6.54 per share, with EPS estimates ranging from $6.28 to $6.70. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Discover Financial Services.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by $0.05. Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the company posted $1.47 earnings per share. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year.

Several analysts have recently weighed in on the company. Evercore ISI decreased their target price on Discover Financial Services from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. BMO Capital Markets reiterated a “hold” rating and set a $68.00 target price on shares of Discover Financial Services in a research report on Tuesday, April 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $84.00 target price on shares of Discover Financial Services in a research report on Monday, April 10th. CIBC decreased their target price on Discover Financial Services from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. Finally, Oppenheimer Holdings, Inc. decreased their target price on Discover Financial Services from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Discover Financial Services currently has a consensus rating of “Buy” and an average price target of $74.21.

Discover Financial Services (DFS) opened at 61.04 on Monday. Discover Financial Services has a one year low of $53.91 and a one year high of $74.33. The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 10.53 and a beta of 1.46. The firm has a 50-day moving average of $61.27 and a 200 day moving average of $64.93.

Discover Financial Services announced that its Board of Directors has authorized a share buyback program 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 reacquire up to 9.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.35 per share. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, August 22nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.29%. Discover Financial Services’s payout ratio is presently 20.73%.

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In other news, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $62.42, for a total transaction of $499,360.00. Following the sale, the executive vice president now owns 205,149 shares in the company, valued at $12,805,400.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $62.52, for a total value of $1,875,600.00. The disclosure for this sale can be found here. Insiders have sold 107,744 shares of company stock worth $6,658,830 in the last 90 days. Insiders own 0.96% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Discover Financial Services by 3,280.4% in the first quarter. BlackRock Inc. now owns 30,704,582 shares of the financial services provider’s stock worth $2,099,886,000 after buying an additional 29,796,268 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Discover Financial Services by 1,458.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,559,909 shares of the financial services provider’s stock worth $221,391,000 after buying an additional 3,331,498 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Discover Financial Services by 19.5% in the first quarter. Primecap Management Co. CA now owns 6,681,700 shares of the financial services provider’s stock worth $456,961,000 after buying an additional 1,088,500 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Discover Financial Services by 42.9% in the first quarter. AQR Capital Management LLC now owns 3,539,440 shares of the financial services provider’s stock worth $242,063,000 after buying an additional 1,062,007 shares during the last quarter. Finally, Janus Capital Management LLC raised its stake in shares of Discover Financial Services by 85.4% in the first quarter. Janus Capital Management LLC now owns 1,609,893 shares of the financial services provider’s stock worth $110,101,000 after buying an additional 741,786 shares during the last quarter. Institutional investors and hedge funds own 84.14% 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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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Earnings History and Estimates for Discover Financial Services (NYSE:DFS)

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