Wedbush Weighs in on Discover Financial Services’ Q1 2018 Earnings (DFS)
Discover Financial Services (NYSE:DFS) – Wedbush cut their Q1 2018 earnings per share estimates for shares of Discover Financial Services in a report issued on Monday. Wedbush analyst H. Coffey now anticipates that the financial services provider will post earnings per share of $1.80 for the quarter, down from their previous forecast of $1.88. Wedbush has a “Buy” rating and a $80.00 price objective on the stock. Wedbush also issued estimates for Discover Financial Services’ Q2 2018 earnings at $1.91 EPS, Q1 2019 earnings at $2.23 EPS and Q2 2019 earnings at $2.23 EPS.
Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.02. Discover Financial Services had a net margin of 17.95% and a return on equity of 21.49%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $1.85 billion.
Discover Financial Services (DFS) opened at $77.33 on Wednesday. Discover Financial Services has a 1-year low of $57.50 and a 1-year high of $81.93. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $27,724.25, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.49.
A number of hedge funds and other institutional investors have recently made changes to their positions in DFS. Hotchkis & Wiley Capital Management LLC boosted its position in Discover Financial Services by 84.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,904,200 shares of the financial services provider’s stock worth $380,703,000 after acquiring an additional 2,698,700 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Discover Financial Services by 273.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,509,493 shares of the financial services provider’s stock valued at $193,030,000 after purchasing an additional 1,837,913 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Discover Financial Services in the 4th quarter valued at $76,302,000. TD Asset Management Inc. boosted its holdings in shares of Discover Financial Services by 71.9% in the 3rd quarter. TD Asset Management Inc. now owns 1,975,814 shares of the financial services provider’s stock valued at $127,401,000 after purchasing an additional 826,606 shares during the last quarter. Finally, Element Capital Management LLC acquired a new position in shares of Discover Financial Services in the 4th quarter valued at $48,135,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.
In related news, EVP Diane E. Offereins sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $77.27, for a total transaction of $1,159,050.00. Following the sale, the executive vice president now owns 134,841 shares in the company, valued at $10,419,164.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $76.81, for a total transaction of $307,240.00. Following the sale, the executive vice president now owns 134,744 shares in the company, valued at approximately $10,349,686.64. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 39,000 shares of company stock worth $11,670 and have sold 242,674 shares worth $19,140,541. 0.96% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Thursday, February 22nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. Discover Financial Services’s dividend payout ratio (DPR) is currently 25.88%.
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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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