Discover Financial Services (NYSE:DFS) PT Set at $79.00 by Oppenheimer

Discover Financial Services (NYSE:DFS) received a $79.00 price objective from investment analysts at Oppenheimer in a research note issued to investors on Wednesday, April 17th, TipRanks reports. The firm presently has a “buy” rating on the financial services provider’s stock. Oppenheimer’s target price would indicate a potential downside of 0.58% from the company’s previous close. Oppenheimer also issued estimates for Discover Financial Services’ Q1 2019 earnings at $2.01 EPS, Q2 2019 earnings at $2.11 EPS, Q3 2019 earnings at $2.21 EPS, Q4 2019 earnings at $2.20 EPS, FY2019 earnings at $8.53 EPS and FY2020 earnings at $9.28 EPS.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. JMP Securities lifted their target price on Discover Financial Services from $74.00 to $80.00 and gave the company a “market outperform” rating in a research report on Thursday, April 4th. ValuEngine raised Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Morgan Stanley boosted their price objective on Discover Financial Services from $89.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Bank of America set a $80.00 price objective on Discover Financial Services and gave the stock a “buy” rating in a research report on Friday, January 25th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Discover Financial Services presently has a consensus rating of “Buy” and a consensus price target of $81.81.

Shares of NYSE:DFS traded up $0.46 during midday trading on Wednesday, reaching $79.46. 1,835,034 shares of the company’s stock were exchanged, compared to its average volume of 1,791,706. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $25.57 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.20 and a beta of 1.64. Discover Financial Services has a fifty-two week low of $54.36 and a fifty-two week high of $82.51.

Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, April 25th. The financial services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.13. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.76 billion. Discover Financial Services had a return on equity of 26.34% and a net margin of 20.98%. Discover Financial Services’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 EPS. As a group, equities research analysts predict that Discover Financial Services will post 8.76 earnings per share for the current fiscal year.

In related news, CFO R. Mark Graf sold 30,741 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $81.92, for a total transaction of $2,518,302.72. Following the completion of the sale, the chief financial officer now owns 56,072 shares in the company, valued at $4,593,418.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael H. Moskow sold 1,985 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $81.53, for a total value of $161,837.05. Following the sale, the director now owns 48,042 shares of the company’s stock, valued at approximately $3,916,864.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,673 shares of company stock valued at $6,577,466. Corporate insiders own 0.81% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Discover Financial Services by 6.2% in the first quarter. BlackRock Inc. now owns 23,825,935 shares of the financial services provider’s stock valued at $1,695,456,000 after buying an additional 1,399,427 shares during the last quarter. FMR LLC lifted its stake in Discover Financial Services by 1.7% in the fourth quarter. FMR LLC now owns 8,884,651 shares of the financial services provider’s stock valued at $524,017,000 after buying an additional 150,949 shares during the last quarter. Geode Capital Management LLC lifted its stake in Discover Financial Services by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,609,400 shares of the financial services provider’s stock valued at $271,408,000 after buying an additional 76,252 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Discover Financial Services by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 3,986,538 shares of the financial services provider’s stock valued at $283,680,000 after buying an additional 316,589 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Discover Financial Services by 7.4% in the third quarter. Bank of New York Mellon Corp now owns 3,961,303 shares of the financial services provider’s stock valued at $302,841,000 after buying an additional 272,970 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

About Discover Financial Services

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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