Today: The Discover Financial Services (DFS) to Post Q3 2016 Earnings of $1.43 Per Share, Wedbush Forecasts

The Discover Financial Services (DFS) to Post Q3 2016 Earnings of $1.43 Per Share, Wedbush Forecasts

Discover Financial Services (NYSE:DFS) – Equities researchers at Wedbush issued their Q3 2016 earnings per share estimates for shares of Discover Financial Services in a note issued to investors on Monday. Wedbush analyst H. Coffey expects that the firm will post earnings of $1.43 per share for the quarter. Wedbush has a “Neutral” rating and a $63.00 price target on the stock. Wedbush also issued estimates for Discover Financial Services’ Q4 2016 earnings at $1.39 EPS, FY2016 earnings at $5.63 EPS, Q1 2017 earnings at $1.42 EPS, Q2 2017 earnings at $1.51 EPS, Q3 2017 earnings at $1.46 EPS, Q4 2017 earnings at $1.61 EPS, FY2017 earnings at $6.00 EPS and FY2018 earnings at $6.65 EPS.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.05. Discover Financial Services had a net margin of 22.41% and a return on equity of 21.15%.

Other equities analysts also recently issued reports about the stock. Deutsche Bank AG reiterated a “buy” rating on shares of Discover Financial Services in a report on Sunday, June 26th. Nomura reiterated a “buy” rating on shares of Discover Financial Services in a report on Saturday, July 9th. Wells Fargo & Co. reiterated a “buy” rating on shares of Discover Financial Services in a report on Saturday, July 9th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Discover Financial Services in a report on Thursday, June 30th. Finally, Barclays PLC downgraded shares of Discover Financial Services from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 7th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $63.69.

Shares of Discover Financial Services (NYSE:DFS) opened at 54.82 on Thursday. Discover Financial Services has a 52-week low of $42.86 and a 52-week high of $60.29. The firm has a market cap of $22.13 billion, a PE ratio of 10.30 and a beta of 1.20. The firm has a 50-day moving average of $57.56 and a 200 day moving average of $55.74.

A number of hedge funds and other institutional investors have recently modified their holdings of DFS. Friess Associates LLC purchased a new stake in Discover Financial Services during the first quarter worth $2,799,000. Riverhead Capital Management LLC increased its stake in Discover Financial Services by 206.8% in the first quarter. Riverhead Capital Management LLC now owns 296,362 shares of the financial services provider’s stock worth $15,090,000 after buying an additional 199,772 shares in the last quarter. AXA increased its stake in Discover Financial Services by 2.2% in the first quarter. AXA now owns 341,870 shares of the financial services provider’s stock worth $17,408,000 after buying an additional 7,476 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in Discover Financial Services by 1.3% in the first quarter. Pictet Asset Management Ltd. now owns 233,311 shares of the financial services provider’s stock worth $10,830,000 after buying an additional 3,100 shares in the last quarter. Finally, Primecap Management Co. CA increased its stake in Discover Financial Services by 14.7% in the first quarter. Primecap Management Co. CA now owns 2,856,600 shares of the financial services provider’s stock worth $145,458,000 after buying an additional 367,100 shares in the last quarter. Institutional investors and hedge funds own 85.42% of the company’s stock.

In related news, EVP Diane E. Offereins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $56.45, for a total value of $564,500.00. Following the completion of the transaction, the executive vice president now owns 308,962 shares in the company, valued at approximately $17,440,904.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David W. Nelms sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $56.68, for a total transaction of $850,200.00. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Thursday, November 3rd will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.19%. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.47%.

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