Equities analysts expect that Discover Financial Services (NYSE:DFS) will report sales of $2.88 billion for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Discover Financial Services’ earnings. The lowest sales estimate is $2.87 billion and the highest is $2.90 billion. Discover Financial Services posted sales of $2.72 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.9%. The company is scheduled to report its next earnings report on Thursday, October 24th.

On average, analysts expect that Discover Financial Services will report full-year sales of $11.45 billion for the current year, with estimates ranging from $11.42 billion to $11.48 billion. For the next year, analysts anticipate that the business will report sales of $12.01 billion, with estimates ranging from $11.85 billion to $12.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Discover Financial Services.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.21. The firm had revenue of $2.98 billion for 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 company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.91 EPS.

A number of equities analysts have issued reports on the company. Deutsche Bank restated a “hold” rating and set a $87.00 price target on shares of Discover Financial Services in a report on Monday, July 8th. Zacks Investment Research upgraded Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Monday. Morgan Stanley set a $97.00 target price on Discover Financial Services and gave the stock a “buy” rating in a report on Friday, August 9th. Wells Fargo & Co increased their target price on Discover Financial Services from $82.00 to $88.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Finally, Barclays increased their target price on Discover Financial Services from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $85.53.

In related news, Director Mary K. Bush sold 993 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $83.27, for a total value of $82,687.11. Following the completion of the sale, the director now directly owns 52,075 shares of the company’s stock, valued at approximately $4,336,285.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO R. Mark Graf sold 4,776 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $92.44, for a total value of $441,493.44. Following the completion of the sale, the chief financial officer now directly owns 51,296 shares of the company’s stock, valued at $4,741,802.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,663 shares of company stock worth $2,534,291. 0.81% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. purchased a new stake in Discover Financial Services in the 2nd quarter valued at $157,000. Calamos Advisors LLC increased its position in shares of Discover Financial Services by 1.7% during the 2nd quarter. Calamos Advisors LLC now owns 257,301 shares of the financial services provider’s stock valued at $19,964,000 after purchasing an additional 4,184 shares during the last quarter. Bruni J V & Co. Co. increased its position in shares of Discover Financial Services by 1.0% during the 1st quarter. Bruni J V & Co. Co. now owns 482,685 shares of the financial services provider’s stock valued at $34,348,000 after purchasing an additional 4,911 shares during the last quarter. AE Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the 2nd quarter valued at $343,000. Finally, Glassman Wealth Services increased its position in shares of Discover Financial Services by 10.2% during the 1st quarter. Glassman Wealth Services now owns 3,873 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 359 shares during the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

Shares of Discover Financial Services stock traded up $0.11 on Monday, reaching $84.50. 1,931,449 shares of the company’s stock were exchanged, compared to its average volume of 1,997,452. The company has a market capitalization of $26.82 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60. Discover Financial Services has a 52 week low of $54.36 and a 52 week high of $92.98. The firm’s 50-day moving average is $83.20 and its two-hundred day moving average is $78.19. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.33.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.44 dividend. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Wednesday, August 21st. Discover Financial Services’s dividend payout ratio (DPR) is currently 22.59%.

Discover Financial Services Company Profile

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

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