StockNews.com Initiates Coverage on Discover Financial Services (NYSE:DFS)

Investment analysts at StockNews.com started coverage on shares of Discover Financial Services (NYSE:DFS) in a research report issued on Tuesday. The firm set a “hold” rating on the financial services provider’s stock.

DFS has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Wells Fargo & Company raised their target price on 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. BTIG Research started coverage on Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Royal Bank of Canada raised their target price on Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Friday, July 19th. Finally, Barclays raised their target price on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $131.33.

Discover Financial Services Trading Up 0.5 %

Shares of NYSE:DFS opened at $140.24 on Tuesday. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $147.61. The firm has a market capitalization of $35.17 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 0.93 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.07 and a quick ratio of 1.12. The business’s 50 day moving average price is $128.28 and its 200-day moving average price is $121.94.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.53% and a net margin of 12.88%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the firm posted $3.54 EPS. The business’s revenue was up 17.0% on a year-over-year basis. On average, equities research analysts forecast that Discover Financial Services will post 12.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Discover Financial Services

Large investors have recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services in the second quarter valued at approximately $26,000. Partnership Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the fourth quarter worth approximately $25,000. Riverview Trust Co purchased a new stake in shares of Discover Financial Services during the first quarter worth approximately $34,000. New Covenant Trust Company N.A. purchased a new stake in shares of Discover Financial Services during the first quarter worth approximately $34,000. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services during the fourth quarter worth approximately $31,000. 86.94% of the stock is owned by institutional investors and hedge funds.

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.