Discover financial services (NYSE:DFS) – Investment analysts Seaport Res Ptn cut their second-quarter 2022 earnings estimates for shares of Discover Financial Services in a note to investors on Friday, January 21. Seaport Res Ptn analyst W. Ryan now expects the financial services provider to post earnings per share of $3.57 for the quarter, down from its previous forecast of 3.60. $. Seaport Res Ptn currently has a “Buy” rating on the title. Seaport Res Ptn also released Discover Financial Services earnings estimates for fiscal year 2023 at $13.85 EPS.
Several other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised its price target on shares of Discover Financial Services from $134.00 to $140.00 in a Tuesday, January 11 research note. Royal Bank of Canada raised its target price on shares of Discover Financial Services from $140.00 to $143.00 and gave the company an “outperform” rating in a Friday, Oct. 22 research note. Piper Sandler raised her price target on shares of Discover Financial Services from $117.00 to $122.00 and gave the company a “neutral” rating in a Monday, Oct. 25 research note. Stephens raised his price target on shares of Discover Financial Services from $118.00 to $137.00 and gave the company an “equal weight” rating in a Friday, Oct. 22 research note. Finally, JPMorgan Chase & Co. lowered its price target on shares of Discover Financial Services from $150.00 to $142.00 and set an “overweight” rating for the company in a Wednesday 19 research note. January. Seven equity research analysts gave the stock a hold rating and twelve gave the company a buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $137.83.
Shares of DFS Stock opened at $114.45 on Monday. The company has a 50-day moving average price of $117.25 and a 200-day moving average price of $122.02. Discover Financial Services has a 12-month low of $81.27 and a 12-month high of $135.69. The company has a market capitalization of $33.54 billion, a price-earnings ratio of 6.85, a PEG ratio of 0.16 and a beta of 1.70. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt ratio of 1.52. Discover Financial Services (NYSE:DFS) last announced its results on Wednesday, January 19. The financial services provider reported earnings per share of $3.64 for the quarter, missing the consensus estimate of $3.68 per ($0.04). Discover Financial Services posted a net margin of 39.15% and a return on equity of 45.80%. The company posted revenue of $2.94 billion in the quarter, versus analyst estimates of $3.02 billion. During the same period a year earlier, the company posted EPS of $2.59. The Company’s revenue for the quarter increased by 4.0% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 3. Investors of record on Thursday, February 17 will receive a dividend of $0.50 per share. This represents a dividend of $2.00 on an annualized basis and a yield of 1.75%. The ex-date of this dividend is Wednesday, February 16. Discover Financial Services’ dividend payout ratio (DPR) is currently 11.96%.
In related news, the director Cynthia A. Glassman sold 3,200 shares in a trade that took place on Tuesday, October 26. The shares were sold at an average price of $123.93, for a total transaction of $396,576.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. 0.54% of the shares are currently held by company insiders.
A number of hedge funds and other institutional investors have recently increased or reduced their holdings in DFS. Community Bank NA bought a new position in Discover Financial Services in Q3 worth about $25,000. PSI Advisors LLC bought a new position in Discover Financial Services in Q3 worth approximately $25,000. Girard Partners Ltd. bought a new position in Discover Financial Services in Q3 worth about $26,000. Benjamin Edwards Inc. bought a new position in Discover Financial Services in Q3 worth approximately $29,000. Finally, Strategic Blueprint LLC bought a new position in Discover Financial Services in Q2 worth approximately $35,000. Hedge funds and other institutional investors own 84.22% of the company’s shares.
Discover the profile of the financial services company
Discover Financial Services is a holding company that provides direct banking and payment services. It operates through Direct Banking and Payment Services segments. The Direct Banking segment offers Discover-branded credit cards issued to individuals on the Discover network and other consumer products and services, including private student loans, personal loans, home loans and other lending products and consumer deposit.
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