Brokers Offer Predictions for Discover Financial Services' Q3 2024 Earnings (NYSE:DFS)

Discover Financial Services (NYSE:DFS - Free Report) - Equities research analysts at Keefe, Bruyette & Woods upped their Q3 2024 earnings per share (EPS) estimates for Discover Financial Services in a note issued to investors on Monday, April 29th. Keefe, Bruyette & Woods analyst S. Sakhrani now anticipates that the financial services provider will earn $3.44 per share for the quarter, up from their previous estimate of $3.24. The consensus estimate for Discover Financial Services' current full-year earnings is $11.39 per share. Keefe, Bruyette & Woods also issued estimates for Discover Financial Services' Q1 2025 earnings at $2.80 EPS.

Several other research firms also recently weighed in on DFS. The Goldman Sachs Group dropped their target price on shares of Discover Financial Services from $139.00 to $121.00 and set a "buy" rating on the stock in a research report on Friday, January 19th. Royal Bank of Canada reiterated a "sector perform" rating and set a $140.00 price objective (up from $117.00) on shares of Discover Financial Services in a research report on Wednesday, February 21st. Morgan Stanley upgraded Discover Financial Services from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $105.00 to $133.00 in a report on Thursday, February 8th. HSBC lifted their price target on Discover Financial Services from $107.00 to $144.00 and gave the company a "hold" rating in a report on Thursday, March 21st. Finally, Citigroup increased their price objective on Discover Financial Services from $127.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $126.29.

Discover Financial Services Trading Up 0.8 %

DFS traded up $0.93 during trading on Thursday, reaching $124.51. The company had a trading volume of 1,588,932 shares, compared to its average volume of 2,165,352. The firm's 50-day simple moving average is $124.34 and its 200 day simple 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. The company has a market cap of $31.20 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.77 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.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced 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). Discover Financial Services had a return on equity of 16.74% and a net margin of 10.56%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same period last year, the firm earned $3.58 earnings per share.

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 $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.25%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services's dividend payout ratio is 31.93%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Fifth Lane Capital LP bought a new stake in Discover Financial Services in the first quarter worth $983,000. FinTrust Capital Advisors LLC lifted its position in shares of Discover Financial Services by 39.9% in the first quarter. FinTrust Capital Advisors LLC now owns 1,045 shares of the financial services provider's stock worth $137,000 after buying an additional 298 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Discover Financial Services by 10.9% in the first quarter. Daiwa Securities Group Inc. now owns 24,749 shares of the financial services provider's stock worth $3,244,000 after buying an additional 2,430 shares during the last quarter. Graypoint LLC boosted its stake in shares of Discover Financial Services by 12.5% during the 1st quarter. Graypoint LLC now owns 2,091 shares of the financial services provider's stock worth $274,000 after acquiring an additional 233 shares in the last quarter. Finally, Haverford Trust Co acquired a new position in shares of Discover Financial Services during the 1st quarter valued at about $298,000. Institutional investors and hedge funds own 86.94% of the company's stock.

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.