Equities Analysts Offer Predictions for Discover Financial Services’ Q1 2017 Earnings (DFS)

Equities Analysts Offer Predictions for Discover Financial Services’ Q1 2017 Earnings (DFS)

Discover Financial Services (NYSE:DFS) – Research analysts at DA Davidson decreased their Q1 2017 earnings per share estimates for Discover Financial Services in a note issued to investors on Wednesday. DA Davidson analyst A. Cyganovich now expects that the brokerage will earn $1.51 per share for the quarter, down from their previous estimate of $1.53. DA Davidson has a “Buy” rating on the stock. DA Davidson also issued estimates for Discover Financial Services’ Q2 2017 earnings at $1.50 EPS, Q4 2017 earnings at $1.50 EPS, FY2017 earnings at $6.10 EPS and FY2018 earnings at $6.68 EPS.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Friday, November 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Discover Financial Services in a research report on Friday, October 28th. Deutsche Bank AG set a $65.00 target price on shares of Discover Financial Services and gave the stock a “buy” rating in a research report on Wednesday, October 5th. Bank of America Corp upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating in a research report on Thursday, December 15th. Finally, Compass Point started coverage on shares of Discover Financial Services in a research report on Friday, January 6th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Discover Financial Services has an average rating of “Buy” and an average target price of $68.00.

Shares of Discover Financial Services (NYSE:DFS) traded down 0.35% during trading on Friday, hitting $69.11. 698,759 shares of the stock traded hands. Discover Financial Services has a 12 month low of $42.86 and a 12 month high of $74.33. The company has a 50 day moving average price of $71.63 and a 200 day moving average price of $61.96. The firm has a market cap of $26.88 billion, a price-to-earnings ratio of 11.98 and a beta of 1.47.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evercore Wealth Management LLC boosted its position in Discover Financial Services by 24.9% in the second quarter. Evercore Wealth Management LLC now owns 1,989 shares of the financial services provider’s stock valued at $107,000 after buying an additional 396 shares during the last quarter. Acrospire Investment Management LLC boosted its position in Discover Financial Services by 18.8% in the third quarter. Acrospire Investment Management LLC now owns 1,900 shares of the financial services provider’s stock valued at $107,000 after buying an additional 300 shares during the last quarter. Cable Hill Partners LLC boosted its position in Discover Financial Services by 112.1% in the third quarter. Cable Hill Partners LLC now owns 1,926 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,018 shares during the last quarter. Mycio Wealth Partners LLC boosted its position in Discover Financial Services by 43.7% in the second quarter. Mycio Wealth Partners LLC now owns 2,054 shares of the financial services provider’s stock valued at $110,000 after buying an additional 625 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in Discover Financial Services by 21.0% in the second quarter. Advisory Services Network LLC now owns 2,257 shares of the financial services provider’s stock valued at $121,000 after buying an additional 391 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

In other Discover Financial Services news, Director Michael H. Moskow sold 2,229 shares of Discover Financial Services stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $56.61, for a total value of $126,183.69. Following the completion of the transaction, the director now directly owns 50,392 shares of the company’s stock, valued at $2,852,691.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kathryn Mcnamara Corley sold 15,000 shares of Discover Financial Services stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the transaction, the executive vice president now directly owns 156,476 shares of the company’s stock, valued at $8,809,598.80. The disclosure for this sale can be found here. Insiders sold 27,229 shares of company stock valued at $1,652,284 over the last ninety days. Corporate insiders own 1.07% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 23rd. Shareholders of record on Thursday, February 9th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, February 7th. This represents a $1.20 annualized dividend and a yield of 1.73%. Discover Financial Services’s dividend payout ratio (DPR) is presently 20.76%.

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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

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