Discover Financial Services (DFS) Downgraded by Goldman Sachs

Goldman Sachs lowered shares of Discover Financial Services (NYSE:DFS) from a buy rating to a neutral rating in a research report released on Monday morning.

A number of other brokerages have also recently commented on DFS. Argus raised Discover Financial Services from an average rating to a buy rating and set a $90.00 price target on the stock in a research report on Friday, January 26th. Instinet dropped their price target on Discover Financial Services from $96.00 to $94.00 and set a buy rating on the stock in a research report on Thursday, January 25th. Zacks Investment Research raised Discover Financial Services from a sell rating to a hold rating in a research report on Wednesday, April 4th. Morgan Stanley upped their price target on Discover Financial Services from $79.00 to $91.00 and gave the company an overweight rating in a research report on Thursday, January 25th. Finally, Wells Fargo dropped their price target on Discover Financial Services from $84.00 to $76.00 and set a market perform rating on the stock in a research report on Thursday, March 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $84.65.

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Shares of NYSE:DFS opened at $72.09 on Monday. Discover Financial Services has a 1 year low of $57.50 and a 1 year high of $81.93. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $25,386.40, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 0.70 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. Discover Financial Services had a return on equity of 21.49% and a net margin of 17.95%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $1.85 billion. equities analysts forecast that Discover Financial Services will post 7.66 EPS for the current fiscal year.

In other Discover Financial Services news, COO Roger C. Hochschild sold 15,259 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $69.70, for a total value of $1,063,552.30. Following the transaction, the chief operating officer now directly owns 717,160 shares in the company, valued at approximately $49,986,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Daniel Peter Capozzi sold 5,000 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $79.97, for a total value of $399,850.00. Following the completion of the transaction, the senior vice president now owns 23,977 shares in the company, valued at $1,917,440.69. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 29,000 shares of company stock worth $8,670 and sold 253,675 shares worth $19,571,644. 0.81% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Focused Wealth Management Inc bought a new position in Discover Financial Services in the 4th quarter worth about $177,000. Arbor Investment Advisors LLC bought a new position in shares of Discover Financial Services during the 4th quarter valued at about $203,000. Equity Investment Corp bought a new position in shares of Discover Financial Services during the 4th quarter valued at about $205,000. Hunter Associates Investment Management LLC bought a new position in shares of Discover Financial Services during the 4th quarter valued at about $215,000. Finally, Newman Dignan & Sheerar Inc. bought a new position in shares of Discover Financial Services during the 4th quarter valued at about $217,000. Institutional investors and hedge funds own 86.40% of the company’s stock.

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Discover Financial Services Company Profile

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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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