FY2024 EPS Estimates for Discover Financial Services (NYSE:DFS) Decreased by Zacks Research

Discover Financial Services (NYSE:DFS) – Investment analysts at Zacks Research dropped their FY2024 earnings estimates for Discover Financial Services in a report released on Wednesday, May 1st. Zacks Research analyst D. Chatterjee now forecasts that the financial services provider will post earnings of $10.00 per share for the year, down from their prior forecast of $10.09. The consensus estimate for Discover Financial Services’ current full-year earnings is $11.48 per share. Zacks Research also issued estimates for Discover Financial Services’ Q4 2025 earnings at $2.87 EPS.

Several other research firms also recently issued reports on DFS. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. HSBC boosted their price objective on Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. The Goldman Sachs Group reduced their price target on shares of Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, January 19th. Morgan Stanley upgraded shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $105.00 to $133.00 in a research report on Thursday, February 8th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Discover Financial Services in a research report on Wednesday, February 21st. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $126.29.

Discover Financial Services Stock Up 0.4 %

Shares of NYSE DFS opened at $125.06 on Friday. The company has a market cap of $31.34 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.74 and a beta of 1.43. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The stock has a fifty day moving average price of $124.34 and a 200 day moving average price of $108.25. The company has a current ratio of 1.05, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49.

Discover Financial Services (NYSE:DFS) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. During the same quarter in the previous year, the firm posted $3.58 earnings per share.

Institutional Investors Weigh In On Discover Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC lifted its holdings in shares of Discover Financial Services by 3.1% during the first quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock worth $379,000 after buying an additional 86 shares during the last quarter. Team Hewins LLC increased its holdings in shares of Discover Financial Services by 5.5% in the first quarter. Team Hewins LLC now owns 1,887 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 98 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in shares of Discover Financial Services by 3.3% during the fourth quarter. Wealthspire Advisors LLC now owns 3,121 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 99 shares during the period. Eagle Bluffs Wealth Management LLC grew its position in shares of Discover Financial Services by 0.8% during the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 14,382 shares of the financial services provider’s stock worth $1,885,000 after buying an additional 108 shares during the period. Finally, Simon Quick Advisors LLC lifted its stake in shares of Discover Financial Services by 1.7% in the 4th quarter. Simon Quick Advisors LLC now owns 6,397 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 109 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.24%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services’s payout ratio is 31.93%.

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.