Discover Financial Services to Post Q1 2018 Earnings of $1.66 Per Share, Jefferies Group Forecasts (DFS) – Dispatch Tribunal


Discover Financial Services (NYSE:DFS) – Analysts at Jefferies Group raised their Q1 2018 EPS estimates for shares of Discover Financial Services in a research note issued to investors on Wednesday. Jefferies Group analyst J. Hecht now expects that the financial services provider will earn $1.66 per share for the quarter, up from their previous forecast of $1.43. Jefferies Group has a “Buy” rating and a $75.00 price target on the stock. Jefferies Group also issued estimates for Discover Financial Services’ Q3 2018 earnings at $1.65 EPS and FY2018 earnings at $6.49 EPS.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.05). The firm had revenue of $2.42 billion during 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 in the previous year, the company posted $1.47 earnings per share.

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Several other analysts have also commented on DFS. Barclays PLC set a $73.00 price objective on shares of Discover Financial Services and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. William Blair reaffirmed an “outperform” rating on shares of Discover Financial Services in a research report on Tuesday, July 18th. Instinet reaffirmed a “buy” rating and issued a $81.00 price objective (down previously from $86.00) on shares of Discover Financial Services in a research report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. set a $71.00 price objective on shares of Discover Financial Services and gave the stock a “buy” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. Discover Financial Services currently has a consensus rating of “Hold” and a consensus target price of $74.45.

Shares of Discover Financial Services (NYSE:DFS) traded up 0.13% during midday trading on Friday, hitting $66.78. 1,713,309 shares of the stock were exchanged. The firm’s 50 day moving average is $62.97 and its 200-day moving average is $61.63. Discover Financial Services has a 1-year low of $55.41 and a 1-year high of $74.33. The stock has a market capitalization of $24.87 billion, a price-to-earnings ratio of 11.52 and a beta of 1.47.

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

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

In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.87, for a total value of $989,786.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $64.51, for a total transaction of $516,080.00. The disclosure for this sale can be found here. In the last three months, insiders sold 157,002 shares of company stock valued at $9,694,424. Corporate insiders own 0.96% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. GM Advisory Group Inc. boosted its stake in shares of Discover Financial Services by 0.3% in the 2nd quarter. GM Advisory Group Inc. now owns 5,304 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 17 shares in the last quarter. South State Corp boosted its stake in shares of Discover Financial Services by 0.7% in the 2nd quarter. South State Corp now owns 3,457 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 25 shares in the last quarter. Advisor Partners LLC boosted its stake in shares of Discover Financial Services by 0.4% in the 2nd quarter. Advisor Partners LLC now owns 7,159 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 27 shares in the last quarter. First Bank & Trust boosted its stake in shares of Discover Financial Services by 1.4% in the 2nd quarter. First Bank & Trust now owns 3,135 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 42 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in shares of Discover Financial Services by 2.3% in the 1st 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. 85.41% of the stock is 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.

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




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