Zacks Research Comments on Discover Financial Services’ Q4 2024 Earnings (NYSE:DFS)

Discover Financial Services (NYSE:DFS) – Equities research analysts at Zacks Research lowered their Q4 2024 EPS estimates for shares of Discover Financial Services in a research report issued to clients and investors on Wednesday, June 26th. Zacks Research analyst D. Chatterjee now expects that the financial services provider will post earnings of $2.98 per share for the quarter, down from their prior estimate of $3.03. The consensus estimate for Discover Financial Services’ current full-year earnings is $11.47 per share. Zacks Research also issued estimates for Discover Financial Services’ Q1 2025 earnings at $2.82 EPS and Q3 2025 earnings at $3.24 EPS.

DFS has been the topic of a number of other reports. 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. Barclays increased their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Friday, April 19th. StockNews.com assumed coverage on shares of Discover Financial Services in a research note on Saturday. They issued a “hold” rating for the company. HSBC raised their price objective on Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Finally, Seaport Res Ptn lowered Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services has an average rating of “Hold” and a consensus price target of $126.29.

Discover Financial Services Trading Up 5.7 %

Shares of DFS opened at $130.81 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $131.65. The stock has a market cap of $32.80 billion, a PE ratio of 14.92, a P/E/G ratio of 0.79 and a beta of 1.41. The business’s 50-day moving average price is $124.81 and its 200-day moving average price is $118.86.

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). Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same quarter last year, the firm posted $3.58 earnings per share.

Institutional Investors Weigh In On Discover Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of DFS. Partnership Wealth Management LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Discover Financial Services during the fourth quarter valued at $28,000. Riverview Trust Co purchased a new position in shares of Discover Financial Services in the 1st quarter worth about $34,000. New Covenant Trust Company N.A. bought a new position in Discover Financial Services in the 1st quarter worth about $34,000. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in Discover Financial Services during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Wednesday, May 22nd. Discover Financial Services’s payout ratio is presently 31.93%.

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.