Equities research analysts forecast that Discover Financial Services (NYSE:DFS) will report sales of $1.88 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Discover Financial Services’ earnings, with the lowest sales estimate coming in at $1.80 billion and the highest estimate coming in at $1.96 billion. Discover Financial Services posted sales of $2.30 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.3%. The business is expected to report its next earnings report on Tuesday, October 24th.

On average, analysts expect that Discover Financial Services will report full year sales of $1.88 billion for the current year, with estimates ranging from $7.19 billion to $7.40 billion. For the next financial year, analysts expect that the company will report sales of $7.58 billion per share, with estimates ranging from $7.33 billion to $7.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Discover Financial Services.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.45 by $0.05. The company had revenue of $2.42 billion during 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%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.47 EPS.

A number of research analysts recently commented on DFS shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $82.00 price target on shares of Discover Financial Services in a report on Friday, May 12th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Discover Financial Services in a research note on Friday, May 12th. Royal Bank Of Canada reissued a “buy” rating and issued a $82.00 price objective on shares of Discover Financial Services in a research note on Tuesday, May 16th. Wells Fargo & Co downgraded shares of Discover Financial Services to a “buy” rating and set a $70.00 price objective for the company. in a research note on Friday, May 19th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $70.00 price objective on shares of Discover Financial Services in a research note on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $74.21.

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In related news, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 830,257 shares of the company’s stock, valued at $51,874,457.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $62.52, for a total transaction of $1,875,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,744 shares of company stock worth $6,658,830. 0.96% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. GM Advisory Group Inc. raised its position in shares of Discover Financial Services by 0.3% in the second quarter. GM Advisory Group Inc. now owns 5,304 shares of the financial services provider’s stock valued at $330,000 after buying an additional 17 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its position in shares of Discover Financial Services by 0.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 3,230 shares of the financial services provider’s stock valued at $221,000 after buying an additional 24 shares during the last quarter. South State Corp raised its position in shares of Discover Financial Services by 0.7% in the second quarter. South State Corp now owns 3,457 shares of the financial services provider’s stock valued at $215,000 after buying an additional 25 shares during the last quarter. Advisor Partners LLC raised its position in shares of Discover Financial Services by 0.4% in the second quarter. Advisor Partners LLC now owns 7,159 shares of the financial services provider’s stock valued at $445,000 after buying an additional 27 shares during the last quarter. Finally, First Bank & Trust raised its position in shares of Discover Financial Services by 1.4% in the second quarter. First Bank & Trust now owns 3,135 shares of the financial services provider’s stock valued at $195,000 after buying an additional 42 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.

Shares of Discover Financial Services (DFS) traded up 0.89% during midday trading on Friday, hitting $58.97. The stock had a trading volume of 1,775,314 shares. The firm’s 50-day moving average price is $60.92 and its 200-day moving average price is $63.87. Discover Financial Services has a 1-year low of $53.91 and a 1-year high of $74.33. The stock has a market cap of $21.96 billion, a price-to-earnings ratio of 10.17 and a beta of 1.46.

The firm also recently disclosed 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 annualized dividend and a yield of 2.37%. 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 24.18%.

Discover Financial Services declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that allows the company to buyback $2.23 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 9.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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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Earnings History and Estimates for Discover Financial Services (NYSE:DFS)

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