Third Quarter 2021 EPS Estimates for Discover Financial Services (NYSE: DFS) Raised by Analyst
Discover financial services (NYSE: DFS) – Piper Sandler equity researchers increased their earnings estimates for the third quarter of 2021 for Discover Financial Services in a report released Thursday, June 10. Piper Sandler analyst K. Barker now predicts the financial services provider will post earnings per share of $ 3.48 for the quarter, up from its previous forecast of $ 3.46. Piper Sandler currently has a “Neutral” rating and a target price of $ 122.00 on the stock. Piper Sandler also released estimates for fourth quarter 2021 earnings from Discover Financial Services at $ 3.03 per share, first quarter 2022 earnings at $ 2.63 per share, second quarter 2022 earnings at $ 3.08. per share, third quarter 2022 earnings at $ 3.03 per share and full year 2022 earnings at $ 11.72 per share. Discover Financial Services (NYSE: DFS) last reported its results on Tuesday, April 20. The financial services provider reported earnings per share (EPS) of $ 5.04 for the quarter, beating the consensus estimate of $ 2.82 by $ 2.22. Discover Financial Services recorded a return on equity of 28.88% and a net margin of 22.20%. The company posted revenue of $ 2.80 billion for the quarter, compared to $ 2.79 billion expected by analysts. During the same period last year, the company posted ($ 0.25) earnings per share. The company’s revenue for the quarter was down 3.2% year-over-year.
A number of other research companies have also recently weighed in on DFS. Zacks investment research downgraded Discover Financial Services from a “hold” rating to a “strong buy” rating and set a price target of $ 122.00 on the stock in a research report released on Tuesday, April 27. Morgan Stanley raised its price target on Discover Financial Services from $ 108.00 to $ 114.00 and gave the stock an “equal weight” rating in a report released on Thursday, April 22. Deutsche Bank Aktiengesellschaft raised its price target on Discover Financial Services from $ 110.00 to $ 120.00 and gave the stock a “hold” rating in a report released on Friday April 23. BMO Capital Markets reissued a “market performance” rating and issued a price target of $ 105 on shares of Discover Financial Services in a report released on Monday, April 26. Finally, Barclays raised its price target on Discover Financial Services from $ 111.00 to $ 132.00 and rated the stock “overweight” in a report released on Friday April 23. Eight analysts assigned a conservation rating to the stock, eight assigned a buy rating, and one assigned a high buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $ 102.31.
DFS Stock open at $ 123.15 on Mondays. Discover Financial Services has a twelve month minimum of $ 45.40 and a twelve month maximum of $ 125.38. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt ratio of 1.89. The stock has a market cap of $ 37.55 billion, a PE ratio of 13.87, a P / E / G ratio of 0.17, and a beta of 1.84. The company’s 50-day moving average is $ 111.84.
Institutional investors and hedge funds have recently bought and sold stocks. Human Investing LLC purchased a new position in Discover Financial Services during the 1st quarter valued at $ 25,000. Concord Wealth Partners increased its stake in Discover Financial Services shares by 162.9% in the 1st quarter. Concord Wealth Partners now owns 276 shares of the financial services provider valued at $ 26,000 after purchasing 171 additional shares during the period. Cranbrook Wealth Management LLC increased its equity stake in Discover Financial Services by 3,288.9% in the 1st quarter. Cranbrook Wealth Management LLC now owns 305 shares of the financial services provider valued at $ 29,000 after purchasing an additional 296 shares during the period. SOA Wealth Advisors LLC. purchased a new equity stake in Discover Financial Services in the 4th quarter valued at $ 30,000. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in Discover Financial Services shares in the 1st quarter valued at $ 30,000. Institutional investors hold 85.72% of the shares of the company.
Meanwhile, director Michael H. Moskow sold 3,824 company shares in a trade that took place on Thursday, May 6. The stock was sold for an average price of $ 115.97, for a total trade of $ 443,469.28. As a result of the transaction, the Director now owns 51,253 shares of the company, valued at approximately $ 5,943,810.41. The transaction was disclosed in a file with the SEC, which can be accessed via the SEC website. In addition, Executive Vice President Daniel Peter Capozzi sold 9,970 shares of the company in a transaction that took place on Monday April 26. The shares were sold for an average price of $ 106.30, for a total value of $ 1,059,811.00. As a result of the transaction, the Executive Vice President now directly owns 27,042 shares of the company, valued at approximately $ 2,874,564.60. Disclosure of this sale can be found here. In the past three months, insiders have sold 28,794 shares of the company valued at $ 3,213,580. Company insiders own 0.54% of the company’s shares.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 3. Shareholders of record on Thursday, May 20 received a dividend of $ 0.44 per share. This represents an annualized dividend of $ 1.76 and a dividend yield of 1.43%. The ex-dividend date was Wednesday May 19. Discover Financial Services’ dividend payout ratio is currently 48.89%.
Discover the profile of the financial services company
Discover Financial Services, through its subsidiaries, operates as a digital banking and payments company in the United States. It operates in two segments, digital banking and payment services. The digital banking segment offers retail customers with Discover branded credit cards; and other consumer products and services, including private student loans, personal loans, home loans and other consumer loans, as well as deposit products, such as certificates of deposit, money market accounts , IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts.
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