Analysts expect Discover Financial Services (NYSE:DFS) to post $3.14 billion in revenue for the current fiscal quarter, according to Zacks Investment Research. Nineteen analysts released earnings estimates for Discover Financial Services, with the highest sales estimate at $3.19 billion and the lowest estimate at $3.06 billion. Discover Financial Services posted sales of $3.58 billion in the same quarter last year, suggesting a negative 12.3% year-over-year growth rate. The company is due to announce its next results on Monday, January 1.
According to Zacks, analysts expect Discover Financial Services to report annual sales of $12.60 billion in the current fiscal year, with estimates ranging from $12.27 billion to $12.96 billion. . For next year, analysts expect the company to post sales of $13.60 billion, with estimates ranging from $13.03 billion to $14.00 billion. Zacks Investment Research sales averages are an average average based on a survey of sell-side research analysts who follow Discover Financial Services.
Discover Financial Services (NYSE:DFS – Get Rating) last reported quarterly earnings data on Wednesday, April 27. The financial services provider reported earnings per share of $4.22 for the quarter, beating analyst consensus estimates of $3.58 by $0.64. The company posted revenue of $2.90 billion in the quarter, versus a consensus estimate of $2.99 billion. Discover Financial Services posted a net margin of 38.42% and a return on equity of 41.57%. The company’s revenue for the quarter increased by 3.8% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $5.04.
Several research analysts have recently commented on DFS shares. Wells Fargo & Company lowered its price target on shares of Discover Financial Services from $135.00 to $127.00 and set an “equal weight” rating on the stock in a Wednesday, April 6 research note . Citigroup raised its price target on shares of Discover Financial Services from $154.00 to $157.00 in a Friday, April 29 report. Morgan Stanley lowered its price target on shares of Discover Financial Services from $144.00 to $127.00 and set an “equal weight” rating for the company in a Monday, March 28 research report. Deutsche Bank Aktiengesellschaft raised its price target on shares of Discover Financial Services from $145.00 to $150.00 in a Friday, April 29 research report. Finally, StockNews.com began covering Discover Financial Services stocks in a research report on Thursday, March 31. They issued a “hold” rating on the stock. Six investment analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $138.76.
Several institutional investors have recently changed their positions in DFS. Walleye Capital LLC bought a new position in Discover Financial Services during Q1 worth $366,000. Kestra Private Wealth Services LLC increased its stake in Discover Financial Services by 3.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,857 shares of the financial services provider valued at $1,306,000 after acquiring an additional 399 shares during the period. EverSource Wealth Advisors LLC increased its stake in Discover Financial Services by 49.0% in Q1. EverSource Wealth Advisors LLC now owns 3,154 shares of the financial services provider valued at $348,000 after acquiring an additional 1,037 shares during the period. M Holdings Securities Inc. bought a new position in Discover Financial Services during Q1 worth $381,000. Finally, Advisory Services Network LLC increased its stake in Discover Financial Services by 2.4% in the 1st quarter. Advisory Services Network LLC now owns 7,168 shares of the financial services provider valued at $789,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors hold 85.53% of the company’s shares.
NYSE:DFS shares opened at $112.20 on Friday. The company has a market capitalization of $31.52 billion, a PE ratio of 6.62, a growth price-earnings ratio of 0.24 and a beta of 1.45. The company has a debt ratio of 1.38, a quick ratio of 1.26 and a current ratio of 1.26. The company has a 50-day simple moving average of $110.83 and a 200-day simple moving average of $114.92. Discover Financial Services has a 52-week low of $98.38 and a 52-week high of $135.69.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 9. Shareholders of record on Thursday, May 26 will receive a dividend of $0.60. This is a boost from Discover Financial Services’ previous quarterly dividend of $0.50. The ex-date of this dividend is Wednesday, May 25. This represents a dividend of $2.40 on an annualized basis and a dividend yield of 2.14%. The payout ratio of Discover Financial Services is 14.16%.
About Explore Financial Services (Get a rating)
Discover Financial Services, through its subsidiaries, provides digital banking products and services and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans and other consumer loans; and direct-to-consumer deposit products including savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings and checking accounts, and money transfer accounts.
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