Discover financial services (NYSE:DFS- Get a rating) – Oppenheimer raised its FY2023 EPS estimates for shares of Discover Financial Services in a research report delivered to clients and investors on Wednesday, July 20. Oppenheimer analyst D. Gabriele now expects the financial services provider to post earnings per share of $15.16 for the year, up from its previous estimate of $14.96. Discover Financial Services’ current annual earnings consensus estimate is $14.93 per share.
Discover financial services (NYSE: DFS – Get a rating) last released its quarterly earnings data on Wednesday, July 20. The financial services provider reported earnings per share of $3.96 for the quarter, beating the consensus estimate of $3.77 by $0.19. The company posted revenue of $3.22 billion for the quarter, versus $3.18 billion expected by analysts. Discover Financial Services posted a net margin of 34.89% and a return on equity of 36.64%. The company’s quarterly revenue was down 9.9% year over year. During the same quarter last year, the company posted EPS of $5.55.
Other analysts have also recently published research reports on the stock. StockNews.com began covering shares of Discover Financial Services in a research report on Thursday, March 31. They have set a “holding” rating on the stock. Barclays lowered its target price on shares of Discover Financial Services from $140.00 to $133.00 in a research report on Friday. Wolfe Research reduced shares of Discover Financial Services from an “outperform” rating to a “peer performance” rating and set a target price of $97.00 for the stock. in a research report on Thursday, May 12. Citigroup downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating and lowered its target price for the stock from $140.00 to $115.00 in a research report on Friday. Finally, Morgan Stanley lowered its price target on shares of Discover Financial Services from $131.00 to $111.00 and set an “equal weight” rating on the stock in a Tuesday, July 12 research report. . Seven investment analysts gave the stock a hold rating and nine gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.13.
See how financial services stocks are performing
Check out financial services stocks that opened at $100.00 on Friday. The company’s fifty-day moving average price is $102.25 and its 200-day moving average price is $111.14. The company has a debt ratio of 1.38, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $28.10 billion, a P/E ratio of 6.51, a price-to-earnings growth ratio of 0.25 and a beta of 1.48. Discover Financial Services has a fifty-two week minimum of $88.02 and a fifty-two week maximum of $135.69.
Check out the financial services dividend announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8. Shareholders of record on Thursday, August 25 will receive a dividend of $0.60 per share. This represents a dividend of $2.40 on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Wednesday, August 24. The payout ratio of Discover Financial Services is 15.63%.
Institutional investors weigh in on Discover Financial Services
Large investors have recently changed their stock holdings. BlackRock Inc. increased its stake in Discover Financial Services by 1.7% during the first quarter. BlackRock Inc. now owns 20,961,715 shares of the financial services provider worth $2,309,769,000 after acquiring 351,679 additional shares in the last quarter. State Street Corp increased its stake in Discover Financial Services by 2.1% during the fourth quarter. State Street Corp now owns 13,584,398 shares of the financial services provider worth $1,569,813,000 after acquiring an additional 275,094 shares last quarter. Geode Capital Management LLC increased its stake in Discover Financial Services by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 6,364,472 shares of the financial services provider worth $734,302,000 after acquiring an additional 360,707 shares last quarter. Boston Partners increased its stake in Discover Financial Services by 1.9% during the first quarter. Boston Partners now owns 4,429,052 shares of the financial services provider worth $488,027,000 after acquiring 81,406 additional shares last quarter. Finally, Northern Trust Corp increased its stake in Discover Financial Services by 0.4% in the fourth quarter. Northern Trust Corp now owns 3,483,170 shares of the financial services provider worth $402,515,000 after buying an additional 12,843 shares in the last quarter. Institutional investors hold 85.53% of the company’s shares.
Discover the profile of the financial services company
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 loans; and direct-to-consumer deposit products including savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings and checking accounts, and money transfer accounts.
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