Equities research analysts expect Discover Financial Services (NYSE:DFS) to announce earnings of $2.31 per share for the current quarter, according to Zacks. Six analysts have issued estimates for Discover Financial Services’ earnings, with the lowest EPS estimate coming in at $2.24 and the highest estimate coming in at $2.35. Discover Financial Services posted earnings per share of $2.05 in the same quarter last year, which suggests a positive year over year growth rate of 12.7%. The company is scheduled to report its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Discover Financial Services will report full year earnings of $9.02 per share for the current year, with EPS estimates ranging from $8.93 to $9.10. For the next financial year, analysts expect that the company will report earnings of $9.60 per share, with EPS estimates ranging from $9.40 to $9.80. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Discover Financial Services.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.21. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Discover Financial Services had a return on equity of 26.76% and a net margin of 21.00%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.91 earnings per share.

Several research firms have weighed in on DFS. Morgan Stanley set a $97.00 target price on Discover Financial Services and gave the stock a “buy” rating in a research note on Friday, August 9th. Barclays upped their target price on Discover Financial Services from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Nomura upped their target price on Discover Financial Services from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada began coverage on Discover Financial Services in a research note on Friday, May 3rd. They set an “outperform” rating and a $96.00 target price for the company. Finally, Oppenheimer cut Discover Financial Services from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $84.35.

Shares of DFS stock traded down $0.39 during trading on Thursday, hitting $79.03. The company had a trading volume of 1,855,717 shares, compared to its average volume of 2,037,930. The stock’s 50-day moving average price is $83.30 and its 200 day moving average price is $76.91. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.33. Discover Financial Services has a one year low of $54.36 and a one year high of $92.98. The firm has a market capitalization of $25.27 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Wednesday, August 21st. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.40. Discover Financial Services’s dividend payout ratio is currently 20.54%.

In other news, Director Mary K. Bush sold 993 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $83.27, for a total value of $82,687.11. Following the transaction, the director now owns 52,075 shares in the company, valued at $4,336,285.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Diane E. Offereins sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $91.76, for a total transaction of $1,835,200.00. Following the completion of the transaction, the executive vice president now owns 120,874 shares in the company, valued at approximately $11,091,398.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,663 shares of company stock worth $2,534,291. Insiders own 0.81% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of DFS. Landmark Bank increased its holdings in Discover Financial Services by 0.4% during the second quarter. Landmark Bank now owns 32,284 shares of the financial services provider’s stock valued at $2,505,000 after buying an additional 142 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Discover Financial Services by 1.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 15,472 shares of the financial services provider’s stock valued at $1,101,000 after buying an additional 168 shares during the last quarter. Girard Partners LTD. increased its stake in shares of Discover Financial Services by 5.0% in the second quarter. Girard Partners LTD. now owns 3,548 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 169 shares in the last quarter. Semmax Financial Advisors Inc. increased its stake in shares of Discover Financial Services by 75.6% in the second quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 180 shares in the last quarter. Finally, SevenBridge Financial Group LLC increased its stake in shares of Discover Financial Services by 5.7% in the second quarter. SevenBridge Financial Group LLC now owns 3,397 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 85.87% of the company’s stock.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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