Discover Financial Services (NYSE:DFS) to Post FY2024 Earnings of $10.00 Per Share, Zacks Research Forecasts

Discover Financial Services (NYSE:DFS) – Equities research analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for shares of Discover Financial Services in a report issued on Wednesday, May 1st. Zacks Research analyst D. Chatterjee now anticipates that the financial services provider will earn $10.00 per share for the year, down from their previous forecast of $10.09. The consensus estimate for Discover Financial Services’ current full-year earnings is $11.69 per share. Zacks Research also issued estimates for Discover Financial Services’ Q4 2025 earnings at $2.87 EPS.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same period in the previous year, the firm posted $3.58 EPS.

DFS has been the topic of a number of other research reports. Barclays boosted their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. Wolfe Research reaffirmed a “peer perform” rating on shares of Discover Financial Services in a report on Wednesday, February 21st. The Goldman Sachs Group dropped their target price on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, January 19th. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group raised their price objective on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a report on Friday, April 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Discover Financial Services has an average rating of “Hold” and an average target price of $126.29.

Discover Financial Services Price Performance

DFS stock opened at $125.04 on Friday. The stock has a market cap of $31.34 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.73 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.13. The company has a 50 day simple moving average of $124.41 and a 200 day simple moving average of $108.48. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $131.65.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Hedge Funds Weigh In On Discover Financial Services

Hedge funds have recently bought and sold shares of the company. Partnership Wealth Management LLC acquired a new stake in Discover Financial Services during the 4th quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Discover Financial Services during the 4th quarter valued at about $28,000. MeadowBrook Investment Advisors LLC acquired a new stake in Discover Financial Services during the fourth quarter worth approximately $31,000. Riverview Trust Co bought a new stake in Discover Financial Services in the first quarter worth approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Discover Financial Services in the fourth quarter valued at approximately $35,000. Institutional investors own 86.94% of the company’s stock.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services 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; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.