Discover Financial Services (DFS) Earning Somewhat Favorable Media Coverage, Study Finds
News coverage about Discover Financial Services (NYSE:DFS) has trended somewhat positive this week, according to Accern. The research group identifies negative and positive media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Discover Financial Services earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 46.3341353756447 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the news articles that may have impacted Accern Sentiment’s scoring:
- BRIEF-Discover Financial Services credit card delinquency rate 1.59 pct at July end versus 1.58 at June end (reuters.com)
- PULSE Study: Debit Fraud Loss Rates Decline After Chip Cards Introduced (finance.yahoo.com)
- Head to Head Survey: Discover Financial Services (NYSE:DFS) & PHH Corp (PHH) (americanbankingnews.com)
- Discover Financial Services (DFS) Position Up in Latest Report from Stevens Capital Management Lp – Modern Readers (modernreaders.com)
- Discover Financial Services (DFS) Ownership Increased by Stevens Capital Management Lp – Modern Readers (modernreaders.com)
Discover Financial Services (DFS) traded up 2.26% during midday trading on Tuesday, hitting $61.87. 2,876,340 shares of the stock traded hands. Discover Financial Services has a one year low of $53.91 and a one year high of $74.33. The company has a market cap of $23.04 billion, a PE ratio of 10.67 and a beta of 1.46. The company’s 50-day moving average is $61.33 and its 200-day moving average is $64.33.
Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by $0.05. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.40 billion. Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. Discover Financial Services’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.47 earnings per share. Equities research analysts expect that Discover Financial Services will post $5.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 24th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.26%. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 20.73%.
Discover Financial Services announced that its board has authorized a share buyback plan on Wednesday, June 28th that permits the company to buyback $2.23 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 9.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Several research firms have recently commented on DFS. BidaskClub lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 target price (down previously from $82.00) on shares of Discover Financial Services in a report on Thursday, July 27th. Bank of America Corporation downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating and dropped their target price for the company from $67.00 to $63.00 in a report on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. set a $69.00 target price on shares of Discover Financial Services and gave the company a “buy” rating in a report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $74.21.
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In related news, SVP Edward W. Mcgrogan sold 1,228 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $61.06, for a total transaction of $74,981.68. Following the completion of the sale, the senior vice president now directly owns 13,085 shares of the company’s stock, valued at approximately $798,970.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Roger C. Hochschild sold 15,258 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $62.48, for a total transaction of $953,319.84. Following the sale, the chief operating officer now directly owns 830,257 shares of the company’s stock, valued at $51,874,457.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,744 shares of company stock valued at $6,658,830. Company insiders own 0.96% of the company’s stock.
Discover Financial Services Company Profile
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
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