Discover Financial Services (NYSE:DFS) Announces Quarterly Earnings Results, Beats Expectations By $1.87 EPS

Discover Financial Services (NYSE:DFS) released its earnings results on Wednesday. The financial services provider reported $5.55 EPS for the quarter, beating the consensus estimate of $3.68 by $1.87, MarketWatch Earnings reports. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.01 billion. Discover Financial Services had a net margin of 22.20% and a return on equity of 28.88%. The business’s quarterly revenue was up 34.4% compared to the same quarter last year. During the same period last year, the firm earned ($1.20) EPS.

NYSE:DFS opened at $125.55 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.89. Discover Financial Services has a 1 year low of $48.18 and a 1 year high of $127.65. The stock has a market capitalization of $38.28 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.16 and a beta of 1.83. The stock’s fifty day moving average is $119.52.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 2nd. Shareholders of record on Thursday, August 19th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.59%. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.44. Discover Financial Services’s dividend payout ratio is currently 48.89%.

DFS has been the subject of several research analyst reports. Bank of America upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Monday, April 26th. Morgan Stanley boosted their price target on Discover Financial Services from $108.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, April 22nd. upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $101.00 to $150.00 in a research report on Friday, July 9th. Barclays lifted their target price on Discover Financial Services from $132.00 to $146.00 and gave the company an “overweight” rating in a research report on Friday, July 9th. Finally, Zacks Investment Research cut shares of Discover Financial Services from a “buy” rating to a “hold” rating and set a $124.00 target price for the company. in a report on Wednesday, July 7th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $113.39.

In other Discover Financial Services news, Director Michael H. Moskow sold 3,824 shares of the firm’s stock in a transaction dated Thursday, May 6th. The stock was sold at an average price of $115.97, for a total transaction of $443,469.28. Following the sale, the director now owns 51,253 shares in the company, valued at $5,943,810.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Diane E. Offereins sold 15,000 shares of the firm’s stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $114.02, for a total value of $1,710,300.00. Following the sale, the executive vice president now owns 113,915 shares in the company, valued at approximately $12,988,588.30. The disclosure for this sale can be found here. Insiders sold 28,794 shares of company stock worth $3,213,580 in the last quarter. 0.54% of the stock is currently owned by company insiders.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company 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; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, 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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Earnings History for Discover Financial Services (NYSE:DFS)

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