Brokerages expect Discover Financial Services (NYSE:DFS) to announce sales of $2.89 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Discover Financial Services’ earnings, with the highest sales estimate coming in at $2.91 billion and the lowest estimate coming in at $2.87 billion. Discover Financial Services posted sales of $2.72 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.3%. The company is scheduled to report its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Discover Financial Services will report full year sales of $11.46 billion for the current fiscal year, with estimates ranging from $11.42 billion to $11.50 billion. For the next financial year, analysts forecast that the business will post sales of $12.03 billion, with estimates ranging from $11.85 billion to $12.21 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Discover Financial Services.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.21. Discover Financial Services had a return on equity of 26.41% and a net margin of 21.00%. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the company posted $1.91 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year.
In related news, Director Mary K. Bush sold 496 shares of Discover Financial Services stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $77.53, for a total transaction of $38,454.88. Following the completion of the sale, the director now directly owns 53,564 shares of the company’s stock, valued at $4,152,816.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Diane E. Offereins sold 20,000 shares of Discover Financial Services stock in a transaction on Friday, July 26th. The stock was sold at an average price of $91.76, for a total value of $1,835,200.00. Following the sale, the executive vice president now directly owns 120,874 shares of the company’s stock, valued at $11,091,398.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,166 shares of company stock valued at $2,490,059. 0.81% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Icon Wealth Partners LLC acquired a new position in Discover Financial Services in the first quarter valued at about $26,000. Weaver Consulting Group acquired a new position in Discover Financial Services in the first quarter valued at about $28,000. Pinnacle Bank acquired a new position in Discover Financial Services in the fourth quarter valued at about $32,000. IMA Wealth Inc. grew its stake in Discover Financial Services by 1,448.3% in the first quarter. IMA Wealth Inc. now owns 449 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 420 shares during the period. Finally, Next Capital Management LLC acquired a new position in Discover Financial Services in the second quarter valued at about $34,000. 84.95% of the stock is owned by institutional investors and hedge funds.
Shares of DFS stock traded down $0.94 on Friday, reaching $86.68. 2,435,725 shares of the stock were exchanged, compared to its average volume of 2,035,986. The company has a market capitalization of $28.11 billion, a PE ratio of 11.13, a PEG ratio of 1.33 and a beta of 1.54. Discover Financial Services has a one year low of $54.36 and a one year high of $92.98. The company has a current ratio of 1.08, a quick ratio of 1.38 and a debt-to-equity ratio of 2.46. The firm’s 50 day moving average price is $81.80.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.44 per share. The ex-dividend date is Wednesday, August 21st. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.03%. Discover Financial Services’s payout ratio is 20.54%.
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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