Discover Financial Services (DFS) to Release Earnings on Tuesday

Discover Financial Services (NYSE:DFS) will be releasing its earnings data after the market closes on Tuesday, October 24th. Analysts expect Discover Financial Services to post earnings of $1.57 per share for the quarter.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.05). Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the firm posted $1.47 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts expect Discover Financial Services to post $5.89 EPS for the current fiscal year and $6.51 EPS for the next fiscal year.

Shares of Discover Financial Services (DFS) opened at 66.57 on Friday. Discover Financial Services has a 1-year low of $55.41 and a 1-year high of $74.33. The company has a market capitalization of $24.79 billion, a price-to-earnings ratio of 11.49 and a beta of 1.47. The company’s 50 day moving average price is $62.45 and its 200-day moving average price is $61.67.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a yield of 2.10%. Discover Financial Services’s dividend payout ratio is currently 24.18%.

Discover Financial Services announced that its board has approved a share buyback plan on Wednesday, June 28th that allows the company to buyback $2.23 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 9.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: “Discover Financial Services (DFS) to Release Earnings on Tuesday” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another website, it was stolen and reposted in violation of U.S. and international copyright law. The legal version of this report can be accessed at https://ledgergazette.com/2017/10/22/discover-financial-services-dfs-to-release-earnings-on-tuesday.html.

A number of equities research analysts have commented on DFS shares. Zacks Investment Research raised Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Morgan Stanley decreased their price target on Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, September 8th. William Blair reissued an “outperform” rating on shares of Discover Financial Services in a report on Tuesday, July 18th. BidaskClub cut Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, June 26th. Finally, ValuEngine cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $73.58.

In related news, EVP Carlos Minetti sold 8,000 shares of Discover Financial Services stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $64.51, for a total value of $516,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $59.10, for a total value of $1,773,000.00. Following the completion of the transaction, the chief executive officer now owns 1,529,912 shares of the company’s stock, valued at approximately $90,417,799.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,002 shares of company stock valued at $9,694,424. 0.96% of the stock is currently owned by company insiders.

About Discover Financial Services

Discover Financial Se

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.05). Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the firm posted $1.47 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts expect Discover Financial Services to post $5.89 EPS for the current fiscal year and $6.51 EPS for the next fiscal year.

Shares of Discover Financial Services (DFS) opened at 66.57 on Friday. Discover Financial Services has a 1-year low of $55.41 and a 1-year high of $74.33. The company has a market capitalization of $24.79 billion, a price-to-earnings ratio of 11.49 and a beta of 1.47. The company’s 50 day moving average price is $62.45 and its 200-day moving average price is $61.67.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a yield of 2.10%. Discover Financial Services’s dividend payout ratio is currently 24.18%.

Discover Financial Services announced that its board has approved a share buyback plan on Wednesday, June 28th that allows the company to buyback $2.23 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 9.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: “Discover Financial Services (DFS) to Release Earnings on Tuesday” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another website, it was stolen and reposted in violation of U.S. and international copyright law. The legal version of this report can be accessed at https://ledgergazette.com/2017/10/22/discover-financial-services-dfs-to-release-earnings-on-tuesday.html.

A number of equities research analysts have commented on DFS shares. Zacks Investment Research raised Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Morgan Stanley decreased their price target on Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, September 8th. William Blair reissued an “outperform” rating on shares of Discover Financial Services in a report on Tuesday, July 18th. BidaskClub cut Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, June 26th. Finally, ValuEngine cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $73.58.

In related news, EVP Carlos Minetti sold 8,000 shares of Discover Financial Services stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $64.51, for a total value of $516,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $59.10, for a total value of $1,773,000.00. Following the completion of the transaction, the chief executive officer now owns 1,529,912 shares of the company’s stock, valued at approximately $90,417,799.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,002 shares of company stock valued at $9,694,424. 0.96% of the stock is currently owned by company insiders.

About Discover Financial Services

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

Earnings History for Discover Financial Services (NYSE:DFS)

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