Discover Financial Services (NYSE:DFS) – William Blair lifted their Q2 2018 EPS estimates for Discover Financial Services in a note issued to investors on Wednesday. William Blair analyst R. Napoli now anticipates that the financial services provider will post earnings per share of $1.59 for the quarter, up from their prior forecast of $1.58. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Discover Financial Services’ Q4 2018 earnings at $1.73 EPS.
Discover Financial Services (NYSE:DFS) last released 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). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Discover Financial Services had a return on equity of 20.74% and a net margin of 20.04%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.47 EPS. COPYRIGHT VIOLATION NOTICE: “Discover Financial Services Expected to Post Q2 2018 Earnings of $1.59 Per Share (DFS)” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.dispatchtribunal.com/2017/10/27/discover-financial-services-expected-to-post-q2-2018-earnings-of-1-59-per-share-dfs.html.
A number of other research analysts also recently commented on DFS. Barclays PLC set a $73.00 price target on shares of Discover Financial Services and gave the company a “hold” rating in a report on Wednesday. Compass Point downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday. Oppenheimer Holdings, Inc. set a $71.00 price target on shares of Discover Financial Services and gave the company a “buy” rating in a report on Tuesday. Finally, Nomura lowered their price target on shares of Discover Financial Services from $81.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $74.45.
Discover Financial Services (DFS) traded up 0.13% on Thursday, hitting $66.78. The stock had a trading volume of 1,696,175 shares. Discover Financial Services has a 52-week low of $55.41 and a 52-week high of $74.33. The firm has a market cap of $24.87 billion, a price-to-earnings ratio of 11.52 and a beta of 1.47. The company’s 50 day moving average price is $62.97 and its 200 day moving average price is $61.63.
The business also recently announced 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.05%.
Discover Financial Services declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 25th that allows the company to buyback $2.75 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 11.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.87, for a total transaction of $989,786.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $59.10, for a total transaction of $1,773,000.00. Following the transaction, the chief executive officer now directly owns 1,529,912 shares in the company, valued at $90,417,799.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,002 shares of company stock worth $9,694,424. Corporate insiders own 0.96% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. V Wealth Management LLC purchased a new position in Discover Financial Services during the second quarter valued at approximately $101,000. FNY Managed Accounts LLC purchased a new position in Discover Financial Services during the first quarter valued at approximately $124,000. Orrstown Financial Services Inc. increased its holdings in Discover Financial Services by 16.7% during the second quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock valued at $125,000 after buying an additional 286 shares during the period. Perigon Wealth Management LLC increased its holdings in Discover Financial Services by 2.3% during the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock valued at $147,000 after buying an additional 48 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new position in Discover Financial Services during the second quarter valued at approximately $168,000. 85.41% of the stock is currently owned by institutional investors.
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.
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