Discover Financial Services (NYSE:DFS) to Post Q3 2019 Earnings of $2.24 Per Share, Oppenheimer Forecasts

Discover Financial Services (NYSE:DFS) – Equities researchers at Oppenheimer lowered their Q3 2019 earnings estimates for shares of Discover Financial Services in a report issued on Monday, July 8th. Oppenheimer analyst D. Gabriele now forecasts that the financial services provider will post earnings per share of $2.24 for the quarter, down from their previous forecast of $2.27. Oppenheimer has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Discover Financial Services’ FY2019 earnings at $8.71 EPS.

DFS has been the subject of a number of other research reports. Goldman Sachs Group raised Puxin from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $56.00 in a research report on Friday, May 3rd. JMP Securities lifted their price target on Discover Financial Services from $74.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada set a $60.00 price target on Masonite International and gave the stock a “buy” rating in a research report on Friday, May 3rd. Zacks Investment Research cut Home Bancshares from a “hold” rating to a “sell” rating in a report on Friday, June 7th. Finally, Deutsche Bank reissued a “buy” rating and issued a $80.00 price objective on shares of Bayerische Motoren Werke in a report on Monday. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Discover Financial Services currently has a consensus rating of “Hold” and a consensus price target of $80.76.

Shares of DFS opened at $80.59 on Wednesday. The stock’s 50-day moving average price is $77.86. Discover Financial Services has a one year low of $54.36 and a one year high of $82.51. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.46. The firm has a market cap of $26.32 billion, a PE ratio of 10.35, a P/E/G ratio of 1.08 and a beta of 1.54.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $2.15 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.13. Discover Financial Services had a return on equity of 26.34% and a net margin of 20.98%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the firm posted $1.82 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year.

In related news, SVP Edward W. Mcgrogan sold 2,450 shares of Discover Financial Services stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $81.60, for a total value of $199,920.00. Following the completion of the transaction, the senior vice president now owns 13,166 shares in the company, valued at approximately $1,074,345.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary K. Bush sold 496 shares of Discover Financial Services stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $77.53, for a total value of $38,454.88. Following the completion of the transaction, the director now owns 53,564 shares of the company’s stock, valued at approximately $4,152,816.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,369 shares of company stock valued at $3,953,668. 0.81% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. Weaver Consulting Group purchased a new stake in Discover Financial Services during the 1st quarter worth approximately $28,000. Icon Wealth Partners LLC purchased a new stake in Discover Financial Services during the 1st quarter worth approximately $26,000. IMA Wealth Inc. increased its stake in Discover Financial Services by 1,448.3% during the 1st quarter. IMA Wealth Inc. now owns 449 shares of the financial services provider’s stock worth $32,000 after buying an additional 420 shares in the last quarter. Essex Savings Bank increased its stake in Discover Financial Services by 66.7% during the 1st quarter. Essex Savings Bank now owns 500 shares of the financial services provider’s stock worth $36,000 after buying an additional 200 shares in the last quarter. Finally, Pinnacle Bank purchased a new stake in Discover Financial Services during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 84.85% 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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Earnings History and Estimates for Discover Financial Services (NYSE:DFS)

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