Analysts Expect Discover Financial Services (NYSE:DFS) Will Announce Quarterly Sales of $3.12 Billion

Wall Street analysts expect that Discover Financial Services (NYSE:DFS) will report sales of $3.12 billion for the current fiscal quarter, Zacks Investment Research reports. Nineteen analysts have issued estimates for Discover Financial Services’ earnings. The highest sales estimate is $3.19 billion and the lowest is $2.96 billion. Discover Financial Services posted sales of $3.58 billion during the same quarter last year, which would indicate a negative year over year growth rate of 12.8%. The company is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Discover Financial Services will report full year sales of $12.58 billion for the current year, with estimates ranging from $12.15 billion to $12.88 billion. For the next year, analysts forecast that the firm will post sales of $13.58 billion, with estimates ranging from $13.09 billion to $14.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Discover Financial Services.

Discover Financial Services (NYSE:DFSGet Rating) last released its earnings results on Wednesday, April 27th. The financial services provider reported $4.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.65. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.99 billion. Discover Financial Services had a return on equity of 41.57% and a net margin of 38.42%. Discover Financial Services’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $5.04 earnings per share.

A number of brokerages have issued reports on DFS. Citigroup lifted their price target on Discover Financial Services from $154.00 to $157.00 in a report on Friday, April 29th. StockNews.com began coverage on Discover Financial Services in a report on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company decreased their price target on Discover Financial Services from $135.00 to $127.00 and set an “equal weight” rating for the company in a report on Wednesday, April 6th. Piper Sandler raised Discover Financial Services from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $142.00 in a report on Monday, January 24th. They noted that the move was a valuation call. Finally, Evercore ISI initiated coverage on Discover Financial Services in a research report on Friday, January 21st. They set a “hold” rating and a $130.00 target price on the stock. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $141.53.

NYSE:DFS opened at $111.01 on Friday. The firm has a market cap of $31.19 billion, a PE ratio of 6.55, a price-to-earnings-growth ratio of 0.27 and a beta of 1.45. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.38. The stock has a fifty day moving average price of $112.10 and a 200 day moving average price of $116.26. Discover Financial Services has a 12-month low of $100.07 and a 12-month high of $135.69.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Investors of record on Thursday, May 26th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.16%. The ex-dividend date is Wednesday, May 25th. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.50. Discover Financial Services’s payout ratio is 11.80%.

In other Discover Financial Services news, EVP Daniel Peter Capozzi sold 8,649 shares of Discover Financial Services stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $124.59, for a total value of $1,077,578.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John Greene sold 4,443 shares of Discover Financial Services stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $127.95, for a total value of $568,481.85. The disclosure for this sale can be found here. Insiders sold a total of 13,892 shares of company stock worth $1,747,661 in the last 90 days. 0.59% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. Koshinski Asset Management Inc. boosted its stake in shares of Discover Financial Services by 17.6% during the 4th quarter. Koshinski Asset Management Inc. now owns 588 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 88 shares in the last quarter. Nicolet Advisory Services LLC boosted its stake in shares of Discover Financial Services by 4.3% during the 3rd quarter. Nicolet Advisory Services LLC now owns 2,173 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 89 shares in the last quarter. First Midwest Bank Trust Division boosted its stake in shares of Discover Financial Services by 1.3% during the 4th quarter. First Midwest Bank Trust Division now owns 7,411 shares of the financial services provider’s stock worth $856,000 after acquiring an additional 94 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Discover Financial Services by 1.0% during the 4th quarter. Impax Asset Management Group plc now owns 9,892 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 95 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of Discover Financial Services by 3.9% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 2,678 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 100 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Company Profile (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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