Q3 2024 EPS Estimates for Discover Financial Services (NYSE:DFS) Lifted by Analyst

Discover Financial Services (NYSE:DFS) – Stock analysts at Keefe, Bruyette & Woods increased their Q3 2024 earnings per share estimates for Discover Financial Services in a research report issued on Monday, April 29th. Keefe, Bruyette & Woods analyst S. Sakhrani now anticipates that the financial services provider will post earnings per share of $3.44 for the quarter, up from their previous forecast of $3.24. The consensus estimate for Discover Financial Services’ current full-year earnings is $11.48 per share. Keefe, Bruyette & Woods also issued estimates for Discover Financial Services’ Q1 2025 earnings at $2.80 EPS.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same period in the prior year, the firm earned $3.58 EPS.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group cut 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 report on Friday, January 19th. Piper Sandler boosted their target price on Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. raised their price target on Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Jefferies Financial Group boosted their price objective on Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, BMO Capital Markets decreased their target price 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $126.29.

Discover Financial Services Stock Up 0.4 %

Shares of NYSE:DFS opened at $125.06 on Thursday. The company’s fifty day moving average is $124.34 and its 200-day moving average is $108.25. 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. The company has a market capitalization of $31.34 billion, a PE ratio of 14.26, a P/E/G ratio of 0.74 and a beta of 1.43.

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 dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services’s payout ratio is 31.93%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Discover Financial Services by 2.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,178 shares of the financial services provider’s stock worth $4,347,000 after purchasing an additional 1,300 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Discover Financial Services by 29.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 465,046 shares of the financial services provider’s stock valued at $40,287,000 after acquiring an additional 106,004 shares during the period. Xponance Inc. increased its holdings in shares of Discover Financial Services by 2.7% in the third quarter. Xponance Inc. now owns 31,876 shares of the financial services provider’s stock worth $2,761,000 after acquiring an additional 850 shares in the last quarter. Dakota Wealth Management acquired a new stake in shares of Discover Financial Services during the third quarter worth about $290,000. Finally, Raymond James & Associates lifted its holdings in shares of Discover Financial Services by 9.0% during the 3rd quarter. Raymond James & Associates now owns 267,265 shares of the financial services provider’s stock valued at $23,153,000 after purchasing an additional 22,022 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors.

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.