Seaport Res Ptn Equities Analysts Increase Earnings Estimates for Discover Financial Services (NYSE:DFS)

Discover Financial Services (NYSE:DFS) – Seaport Res Ptn lifted their Q4 2024 earnings estimates for Discover Financial Services in a note issued to investors on Friday, July 19th. Seaport Res Ptn analyst W. Ryan now forecasts that the financial services provider will post earnings per share of $2.96 for the quarter, up from their prior estimate of $2.93. The consensus estimate for Discover Financial Services’ current full-year earnings is $11.77 per share. Seaport Res Ptn also issued estimates for Discover Financial Services’ FY2025 earnings at $14.05 EPS.

DFS has been the topic of a number of other reports. Barclays lifted their price objective on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. StockNews.com began coverage on Discover Financial Services in a report on Tuesday. They issued a “hold” rating for the company. Royal Bank of Canada increased their price objective on Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group upped their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $131.33.

Discover Financial Services Stock Down 0.2 %

Discover Financial Services stock opened at $139.60 on Monday. The stock has a market capitalization of $35.01 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.98 and a beta of 1.44. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average of $128.01 and a two-hundred day moving average of $121.81. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.53%. The business had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the company earned $3.54 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.01%. Discover Financial Services’s payout ratio is currently 31.93%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DFS. Boston Partners grew its position in shares of Discover Financial Services by 5.5% in the fourth quarter. Boston Partners now owns 9,072,829 shares of the financial services provider’s stock valued at $1,017,046,000 after purchasing an additional 475,579 shares during the period. Dimensional Fund Advisors LP grew its holdings in Discover Financial Services by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,655,558 shares of the financial services provider’s stock valued at $410,891,000 after buying an additional 217,475 shares during the period. Norges Bank acquired a new position in shares of Discover Financial Services during the 4th quarter valued at about $322,199,000. Brave Warrior Advisors LLC lifted its holdings in shares of Discover Financial Services by 10.6% during the 4th quarter. Brave Warrior Advisors LLC now owns 2,633,167 shares of the financial services provider’s stock worth $295,968,000 after acquiring an additional 251,909 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Discover Financial Services by 60.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock worth $238,605,000 after acquiring an additional 803,738 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Company Profile

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.