Discover Financial Services (NYSE:DFS) PT Raised to $123.00

Discover Financial Services (NYSE:DFS) had its target price raised by Barclays from $120.00 to $123.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential downside of 1.87% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Seaport Res Ptn cut Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Morgan Stanley raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $105.00 to $133.00 in a report on Thursday, February 8th. Wells Fargo & Company raised their price target on Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $140.00 price target (up previously from $117.00) on shares of Discover Financial Services in a report on Wednesday, February 21st. Finally, BMO Capital Markets lowered their price target on Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services has a consensus rating of “Hold” and a consensus price target of $125.94.

Discover Financial Services Stock Performance

Shares of DFS opened at $125.35 on Friday. The stock’s 50-day simple moving average is $122.02 and its 200 day simple moving average is $106.03. The stock has a market capitalization of $31.41 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 0.88 and a beta of 1.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.13 and a current ratio of 1.05. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $131.65.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a return on equity of 16.74% and a net margin of 10.56%. During the same period last year, the company posted $3.58 EPS. Research analysts forecast that Discover Financial Services will post 11.23 EPS for the current fiscal year.

Insider Activity

In other news, CFO John Greene sold 35,191 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the transaction, the chief financial officer now directly owns 18,592 shares in the company, valued at approximately $1,980,233.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Discover Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dagco Inc. bought a new position in Discover Financial Services during the 4th quarter worth approximately $25,000. Partnership Wealth Management LLC bought a new position in Discover Financial Services during the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new position in Discover Financial Services during the 4th quarter worth approximately $28,000. Riverview Trust Co bought a new position in Discover Financial Services during the 1st quarter worth approximately $34,000. Finally, MeadowBrook Investment Advisors LLC bought a new position in Discover Financial Services during the 4th quarter worth approximately $31,000. 86.94% of the stock is currently owned by institutional investors.

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.