Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Discover Financial Services (DFS) Share Price
Headlines about Discover Financial Services (NYSE:DFS) have trended somewhat positive on Sunday, according to Accern. Accern identifies positive and negative press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Discover Financial Services earned a news impact score of 0.17 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 46.195930071263 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the media stories that may have effected Accern’s scoring:
- Improving GDP and Retail Sales Could Boost Visa’s Platform Usage (finance.yahoo.com)
- Insider Selling: Discover Financial Services (DFS) EVP Sells 3,750 Shares of Stock (americanbankingnews.com)
- Discover Financial Services (DFS) CEO David W. Nelms Sells 30,000 Shares (americanbankingnews.com)
- October 26th Options Now Available For Discover Financial Services (DFS) (nasdaq.com)
- These 4 Top Stocks Are Near Buy Points From This Bullish Pattern (finance.yahoo.com)
DFS has been the topic of a number of research reports. Zacks Investment Research lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, July 16th. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $78.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Finally, Sandler O’Neill restated a “buy” rating and issued a $87.00 price objective on shares of Discover Financial Services in a report on Friday, July 27th. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $85.27.
Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, July 26th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.03. Discover Financial Services had a return on equity of 24.25% and a net margin of 19.07%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the company earned $1.40 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. sell-side analysts forecast that Discover Financial Services will post 7.8 EPS for the current fiscal year.
Discover Financial Services announced that its Board of Directors has initiated a share repurchase program on Thursday, July 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Shareholders of record on Thursday, August 23rd were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 22nd. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Discover Financial Services’s dividend payout ratio (DPR) is 26.76%.
In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $71.79, for a total value of $2,153,700.00. Following the completion of the sale, the chief executive officer now directly owns 1,240,798 shares of the company’s stock, valued at approximately $89,076,888.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carlos Minetti sold 3,750 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $69.90, for a total value of $262,125.00. The disclosure for this sale can be found here. Insiders sold a total of 101,250 shares of company stock valued at $7,418,813 over the last ninety days. Corporate insiders own 0.81% of the company’s stock.
Discover Financial Services Company Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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