Q2 2020 EPS Estimates for Discover Financial Services (NYSE:DFS) Raised by Jefferies Financial Group
Discover Financial Services (NYSE:DFS) – Analysts at Jefferies Financial Group upped their Q2 2020 earnings per share (EPS) estimates for shares of Discover Financial Services in a research report issued to clients and investors on Wednesday, July 8th. Jefferies Financial Group analyst J. Hecht now expects that the financial services provider will post earnings per share of $0.20 for the quarter, up from their previous forecast of ($0.01). Jefferies Financial Group also issued estimates for Discover Financial Services’ Q3 2020 earnings at $0.91 EPS, Q4 2020 earnings at $1.12 EPS, FY2020 earnings at $1.98 EPS, Q1 2021 earnings at $0.49 EPS, Q2 2021 earnings at $2.17 EPS and FY2021 earnings at $5.45 EPS.
A number of other research analysts also recently issued reports on DFS. Nomura Securities upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $82.00 to $59.00 in a research note on Friday, March 20th. ValuEngine upgraded shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, June 4th. Deutsche Bank cut their target price on shares of Discover Financial Services from $72.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, April 24th. Piper Sandler lifted their target price on shares of Discover Financial Services from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Finally, Zacks Investment Research raised shares of Discover Financial Services from a “sell” rating to a “hold” rating and set a $52.00 target price on the stock in a report on Monday, June 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $62.80.
Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($2.34). Discover Financial Services had a net margin of 15.39% and a return on equity of 20.38%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business earned $2.15 earnings per share. Discover Financial Services’s revenue was up 4.5% on a year-over-year basis.
Institutional investors and hedge funds have recently made changes to their positions in the business. Ellevest Inc. increased its stake in Discover Financial Services by 76.9% in the 1st quarter. Ellevest Inc. now owns 757 shares of the financial services provider’s stock valued at $27,000 after buying an additional 329 shares during the period. Bartlett & Co. LLC purchased a new stake in shares of Discover Financial Services during the 1st quarter worth $27,000. FSA Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth $32,000. Ballast Advisors LLC purchased a new stake in shares of Discover Financial Services during the 1st quarter worth $32,000. Finally, TCI Wealth Advisors Inc. boosted its position in shares of Discover Financial Services by 289.1% during the 1st quarter. TCI Wealth Advisors Inc. now owns 930 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 691 shares in the last quarter. 82.64% of the stock is currently owned by institutional investors.
In other news, EVP Robert Andrew Eichfeld acquired 12,650 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were bought at an average cost of $39.50 per share, with a total value of $499,675.00. Following the purchase, the executive vice president now owns 33,454 shares of the company’s stock, valued at approximately $1,321,433. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.
Discover Financial Services Company Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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