$3.58 Earnings Per Share Expected for Discover Financial Services (NYSE:DFS) This Quarter

Wall Street analysts forecast that Discover Financial Services (NYSE:DFS) will announce earnings of $3.58 per share for the current quarter, Zacks reports. Eighteen analysts have made estimates for Discover Financial Services’ earnings, with the lowest EPS estimate coming in at $3.24 and the highest estimate coming in at $3.89. Discover Financial Services posted earnings of $5.04 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 29%. The company is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Discover Financial Services will report full year earnings of $14.19 per share for the current year, with EPS estimates ranging from $13.14 to $14.93. For the next financial year, analysts forecast that the company will report earnings of $14.31 per share, with EPS estimates ranging from $12.80 to $15.96. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Discover Financial Services.

Discover Financial Services (NYSE:DFSGet Rating) last issued its earnings results on Wednesday, January 19th. The financial services provider reported $3.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.61 by $0.03. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Discover Financial Services had a net margin of 41.22% and a return on equity of 45.63%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $2.59 earnings per share.

Several brokerages recently commented on DFS. Wolfe Research reduced their price target on shares of Discover Financial Services from $160.00 to $144.00 in a research report on Thursday, March 17th. Wells Fargo & Company reduced their price target on shares of Discover Financial Services from $135.00 to $127.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 6th. StockNews.com began coverage on shares of Discover Financial Services in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and upped their price target for the company from $140.00 to $145.00 in a research report on Monday, February 14th. Finally, Morgan Stanley reduced their 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 research report on Monday, March 28th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Discover Financial Services presently has a consensus rating of “Buy” and a consensus target price of $138.05.

NYSE:DFS traded up $2.41 during trading hours on Thursday, reaching $118.84. 11,203 shares of the company’s stock were exchanged, compared to its average volume of 1,819,521. The company has a market capitalization of $33.86 billion, a P/E ratio of 6.55, a price-to-earnings-growth ratio of 0.14 and a beta of 1.57. Discover Financial Services has a 12 month low of $94.91 and a 12 month high of $135.69. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.50. The business’s 50-day simple moving average is $114.72 and its two-hundred day simple moving average is $117.39.

In other news, CFO John Greene sold 4,443 shares of the business’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $127.95, for a total value of $568,481.85. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Shifra Kolsky sold 800 shares of Discover Financial Services stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $127.00, for a total value of $101,600.00. The disclosure for this sale can be found here. Insiders sold a total of 13,892 shares of company stock worth $1,747,661 over the last quarter. 0.59% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in DFS. Community Bank N.A. bought a new position in Discover Financial Services in the third quarter valued at approximately $25,000. PSI Advisors LLC bought a new position in Discover Financial Services in the third quarter valued at approximately $25,000. Girard Partners LTD. bought a new position in shares of Discover Financial Services during the third quarter worth $26,000. Tyler Stone Wealth Management bought a new position in shares of Discover Financial Services during the fourth quarter worth $27,000. Finally, Benjamin Edwards Inc. bought a new position in shares of Discover Financial Services during the third quarter worth $29,000. 84.95% of the stock is currently owned by hedge funds and other institutional investors.

About Discover Financial Services (Get 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 lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.

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

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