Discover Financial Services (NYSE:DFS) Receives $60.40 Consensus Target Price from Analysts

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Discover Financial Services (NYSE:DFS) has been assigned an average recommendation of “Hold” from the twenty-one brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $60.40.

Several equities research analysts have recently commented on DFS shares. JMP Securities lifted their price objective on shares of Discover Financial Services from $48.00 to $58.00 and gave the stock a “market outperform” rating in a research note on Friday, July 24th. BMO Capital Markets lifted their price objective on shares of Discover Financial Services from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Zacks Investment Research downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating and set a $54.00 target price for the company. in a research report on Tuesday, July 28th. Morgan Stanley boosted their target price on shares of Discover Financial Services from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $45.00 to $52.00 and gave the company a “hold” rating in a research report on Monday, July 13th.

DFS traded up $2.01 during trading on Monday, hitting $60.92. The stock had a trading volume of 3,307,844 shares, compared to its average volume of 4,211,506. Discover Financial Services has a twelve month low of $23.25 and a twelve month high of $87.43. The stock has a 50 day simple moving average of $54.66 and a two-hundred day simple moving average of $47.09. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $18.67 billion, a PE ratio of 19.28 and a beta of 1.88.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported ($1.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($1.25). Discover Financial Services had a return on equity of 10.45% and a net margin of 7.65%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.63 billion. On average, equities research analysts anticipate that Discover Financial Services will post 1.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were issued a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $1.76 dividend on an annualized basis and a yield of 2.89%. Discover Financial Services’s payout ratio is 19.38%.

In other Discover Financial Services news, Director Mary K. Bush sold 1,920 shares of Discover Financial Services stock in a transaction on Friday, July 31st. The shares were sold at an average price of $49.23, for a total value of $94,521.60. Following the completion of the transaction, the director now owns 55,899 shares of the company’s stock, valued at $2,751,907.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DFS. Smithfield Trust Co. increased its stake in shares of Discover Financial Services by 620.0% during the second quarter. Smithfield Trust Co. now owns 720 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 620 shares in the last quarter. Beese Fulmer Investment Management Inc. purchased a new stake in shares of Discover Financial Services during the second quarter worth about $38,000. Bedel Financial Consulting Inc. increased its stake in shares of Discover Financial Services by 53.9% during the second quarter. Bedel Financial Consulting Inc. now owns 914 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 320 shares in the last quarter. Shine Investment Advisory Services Inc. increased its stake in shares of Discover Financial Services by 33.7% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,290 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 325 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in shares of Discover Financial Services by 35.0% during the second quarter. Cornerstone Advisors Inc. now owns 1,420 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 368 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

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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Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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