Discover Financial Services (NYSE:DFS) Expected to Announce Quarterly Sales of $3.14 Billion

Wall Street analysts expect Discover Financial Services (NYSE:DFS) to announce $3.14 billion in sales for the current quarter, according to Zacks. Nineteen analysts have issued estimates for Discover Financial Services’ earnings, with estimates ranging from $3.06 billion to $3.19 billion. Discover Financial Services reported sales of $3.58 billion during the same quarter last year, which would suggest a negative year over year growth rate of 12.3%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Discover Financial Services will report full year sales of $12.60 billion for the current financial year, with estimates ranging from $12.27 billion to $12.96 billion. For the next financial year, analysts anticipate that the firm will post sales of $13.60 billion, with estimates ranging from $13.03 billion to $14.00 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Discover Financial Services.

Discover Financial Services (NYSE:DFSGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.64. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.99 billion. Discover Financial Services had a return on equity of 41.57% and a net margin of 38.42%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $5.04 earnings per share.

A number of research analysts have recently weighed in on DFS shares. Citigroup increased their price objective on Discover Financial Services from $154.00 to $157.00 in a report on Friday, April 29th. Wolfe Research downgraded Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 target price on the stock. in a research note on Thursday, May 12th. Morgan Stanley lowered their target price on Discover Financial Services from $144.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Monday, March 28th. StockNews.com initiated coverage on Discover Financial Services in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Discover Financial Services from $145.00 to $150.00 in a research note on Friday, April 29th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $138.76.

Shares of DFS stock opened at $112.20 on Friday. The stock’s 50-day simple moving average is $110.83 and its 200-day simple moving average is $114.92. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $31.52 billion, a PE ratio of 6.62, a P/E/G ratio of 0.24 and a beta of 1.45. Discover Financial Services has a fifty-two week low of $98.38 and a fifty-two week high of $135.69.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Investors of record on Thursday, May 26th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, May 25th. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.50. Discover Financial Services’s dividend payout ratio (DPR) is currently 14.16%.

Several large investors have recently bought and sold shares of the stock. Walleye Capital LLC acquired a new stake in shares of Discover Financial Services in the first quarter valued at approximately $366,000. Kestra Private Wealth Services LLC increased its stake in Discover Financial Services by 3.5% during the first quarter. Kestra Private Wealth Services LLC now owns 11,857 shares of the financial services provider’s stock worth $1,306,000 after acquiring an additional 399 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Discover Financial Services by 49.0% during the first quarter. EverSource Wealth Advisors LLC now owns 3,154 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 1,037 shares during the last quarter. M Holdings Securities Inc. acquired a new stake in Discover Financial Services during the first quarter worth $381,000. Finally, Advisory Services Network LLC increased its stake in Discover Financial Services by 2.4% during the first quarter. Advisory Services Network LLC now owns 7,168 shares of the financial services provider’s stock worth $789,000 after acquiring an additional 168 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other 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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Earnings History and Estimates for Discover Financial Services (NYSE:DFS)

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