Barclays PLC Analysts Give Discover Financial Services (DFS) a $73.00 Price Target – Dispatch Tribunal


Barclays PLC set a $73.00 target price on Discover Financial Services (NYSE:DFS) in a research note released on Wednesday. The firm currently has a hold rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. BidaskClub lowered Discover Financial Services from a hold rating to a sell rating in a report on Tuesday, August 1st. Zacks Investment Research lowered Discover Financial Services from a hold rating to a sell rating in a report on Monday, July 31st. Jefferies Group LLC reaffirmed a buy rating and set a $75.00 target price (down from $82.00) on shares of Discover Financial Services in a report on Thursday, July 27th. Compass Point lowered Discover Financial Services from a buy rating to a neutral rating in a report on Wednesday. Finally, Nomura lowered their target price on Discover Financial Services from $81.00 to $79.00 and set a buy rating for the company in a report on Wednesday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $74.45.

Discover Financial Services (NYSE DFS) traded up 0.13% on Wednesday, reaching $66.78. The company had a trading volume of 1,713,309 shares. The stock has a 50 day moving average of $63.43 and a 200 day moving average of $61.68. Discover Financial Services has a 12 month low of $55.41 and a 12 month high of $74.33. The firm has a market capitalization of $24.87 billion, a PE ratio of 11.52 and a beta of 1.47.

Discover Financial Services (NYSE:DFS) last posted its earnings results 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). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. Discover Financial Services had a net margin of 20.04% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. On average, analysts anticipate that Discover Financial Services will post $5.96 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Barclays PLC Analysts Give Discover Financial Services (DFS) a $73.00 Price Target” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://www.dispatchtribunal.com/2017/10/28/barclays-plc-analysts-give-discover-financial-services-dfs-a-73-00-price-target.html.

Discover Financial Services announced that its Board of Directors has approved a share repurchase plan on Tuesday, July 25th that authorizes the company to buyback $2.75 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 11.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.10%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.05%.

In other news, COO Roger C. Hochschild sold 15,258 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $64.87, for a total value of $989,786.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Edward W. Mcgrogan sold 1,228 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $61.06, for a total value of $74,981.68. Following the completion of the sale, the senior vice president now owns 13,085 shares of the company’s stock, valued at approximately $798,970.10. The disclosure for this sale can be found here. Insiders have sold a total of 157,002 shares of company stock valued at $9,694,424 in the last quarter. Insiders own 0.96% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DFS. V Wealth Management LLC purchased a new stake in shares of Discover Financial Services in the second quarter valued at $101,000. FNY Managed Accounts LLC purchased a new stake in shares of Discover Financial Services in the first quarter valued at $124,000. Orrstown Financial Services Inc. lifted its holdings in shares of Discover Financial Services by 16.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 286 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings 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 purchasing an additional 48 shares in the last quarter. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Discover Financial Services in the second quarter valued at $157,000. Institutional investors own 85.41% of the company’s stock.

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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)




Receive News & Ratings for Discover Financial Services Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Discover Financial Services and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *