Discover Financial Services to Post Q2 2024 Earnings of $3.04 Per Share, Zacks Research Forecasts (NYSE:DFS)

Discover Financial Services (NYSE:DFS) – Investment analysts at Zacks Research increased their Q2 2024 earnings per share estimates for Discover Financial Services in a research note issued on Wednesday, May 1st. Zacks Research analyst D. Chatterjee now anticipates that the financial services provider will post earnings per share of $3.04 for the quarter, up from their previous estimate of $2.65. The consensus estimate for Discover Financial Services’ current full-year earnings is $11.86 per share. Zacks Research also issued estimates for Discover Financial Services’ Q3 2024 earnings at $3.22 EPS, Q4 2024 earnings at $2.64 EPS, Q1 2025 earnings at $2.78 EPS, Q2 2025 earnings at $3.49 EPS, Q3 2025 earnings at $2.82 EPS, FY2025 earnings at $11.96 EPS, Q1 2026 earnings at $3.41 EPS and FY2026 earnings at $12.48 EPS.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same quarter in the prior year, the business posted $3.58 earnings per share.

Several other research analysts have also recently weighed in on the company. Barclays lifted their price target on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research report on Friday, April 19th. BMO Capital Markets dropped their price objective on Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Wells Fargo & Company raised their price objective on Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Wolfe Research reissued a “peer perform” rating on shares of Discover Financial Services in a report on Wednesday, February 21st. Finally, Citigroup raised their price objective on Discover Financial Services from $127.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.29.

Discover Financial Services Stock Up 0.3 %

Shares of DFS stock opened at $125.36 on Monday. The stock has a 50 day moving average of $124.48 and a 200 day moving average of $109.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. The stock has a market cap of $31.42 billion, a P/E ratio of 14.29, a P/E/G ratio of 0.72 and a beta of 1.43. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $131.65.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

Hedge Funds Weigh In On Discover Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Partnership Wealth Management LLC acquired a new position in Discover Financial Services during the fourth quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new stake in Discover Financial Services in the fourth quarter valued at $28,000. MeadowBrook Investment Advisors LLC purchased a new stake in Discover Financial Services in the fourth quarter valued at $31,000. Riverview Trust Co purchased a new stake in Discover Financial Services in the first quarter valued at $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Discover Financial Services in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Company Profile

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.