Discover Financial Services (NYSE:DFS) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a $133.00 price target on the financial services provider’s stock, up from their previous price target of $105.00. Morgan Stanley’s price objective would suggest a potential upside of 25.14% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group lowered their price objective on shares of Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, January 19th. Stephens restated an “equal weight” rating and issued a $98.00 target price on shares of Discover Financial Services in a report on Thursday, December 14th. BMO Capital Markets lowered their target price on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Citigroup upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the stock from $93.00 to $133.00 in a report on Wednesday, December 20th. Finally, Bank of America upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the stock from $94.00 to $116.00 in a report on Wednesday, December 6th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.24.
Discover Financial Services Price Performance
Discover Financial Services (NYSE:DFS – Get Free Report) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.54 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.96). Discover Financial Services had a net margin of 14.30% and a return on equity of 21.81%. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the business earned $3.77 EPS. Discover Financial Services’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts expect that Discover Financial Services will post 11.26 earnings per share for the current fiscal year.
Insider Buying and Selling at Discover Financial Services
In other news, CFO John Greene sold 35,191 shares of Discover Financial Services stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the transaction, the chief financial officer now owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.69% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Partnership Wealth Management LLC acquired a new stake in Discover Financial Services in the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in Discover Financial Services in the 4th quarter worth approximately $28,000. MeadowBrook Investment Advisors LLC acquired a new stake in Discover Financial Services in the 4th quarter worth approximately $31,000. Carmichael Hill & Associates Inc. acquired a new stake in Discover Financial Services in the 2nd quarter worth approximately $35,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Discover Financial Services in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.
About Discover Financial Services
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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