Discover Financial Services (NYSE:DFS) Downgraded to “Peer Perform” at Wolfe Research

Discover Financial Services (NYSE:DFS) was downgraded by stock analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Thursday, Briefing.com reports. They currently have a $97.00 price target on the financial services provider’s stock. Wolfe Research’s price objective suggests a potential downside of 7.29% from the company’s previous close.

A number of other equities analysts have also issued reports on DFS. Deutsche Bank Aktiengesellschaft raised their price target on Discover Financial Services from $145.00 to $150.00 in a report on Friday, April 29th. JPMorgan Chase & Co. reduced their price objective on shares of Discover Financial Services from $150.00 to $142.00 and set an “overweight” rating for the company in a research report on Wednesday, January 19th. Wells Fargo & Company reduced their price objective on shares of Discover Financial Services from $135.00 to $127.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 6th. Citigroup lifted their price target on shares of Discover Financial Services from $154.00 to $157.00 in a research report on Friday, April 29th. Finally, Credit Suisse Group lifted their price target on shares of Discover Financial Services from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, January 21st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $138.76.

NYSE:DFS opened at $104.63 on Thursday. The business’s fifty day moving average price is $111.55 and its 200 day moving average price is $115.80. The firm has a market capitalization of $29.40 billion, a PE ratio of 6.17, a price-to-earnings-growth ratio of 0.26 and a beta of 1.45. Discover Financial Services has a 12 month low of $100.07 and a 12 month high of $135.69. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.26 and a quick ratio of 1.26.

Discover Financial Services (NYSE:DFS – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.64. Discover Financial Services had a return on equity of 41.57% and a net margin of 38.42%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the company posted $5.04 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Discover Financial Services will post 14.69 EPS for the current year.

In other Discover Financial Services news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Shifra Kolsky sold 800 shares of the business’s stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $127.00, for a total transaction of $101,600.00. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in DFS. Norges Bank purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at $354,824,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at $225,394,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Discover Financial Services by 189.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,985,397 shares of the financial services provider’s stock valued at $243,906,000 after buying an additional 1,299,078 shares during the period. Voya Investment Management LLC grew its stake in shares of Discover Financial Services by 136.6% during the 3rd quarter. Voya Investment Management LLC now owns 1,938,610 shares of the financial services provider’s stock valued at $238,159,000 after buying an additional 1,119,395 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Discover Financial Services by 15.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,003,765 shares of the financial services provider’s stock valued at $736,126,000 after buying an additional 782,311 shares during the period. 85.53% of the stock is owned by institutional investors.

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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