JPMorgan Chase & Co. Issues Positive Forecast for Discover Financial Services (NYSE:DFS) Stock Price

Discover Financial Services (NYSE:DFS) had its price target upped by analysts at JPMorgan Chase & Co. from $135.00 to $150.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 14.67% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Evercore ISI lifted their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Royal Bank of Canada upped their price objective on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Discover Financial Services currently has a consensus rating of “Hold” and an average target price of $146.13.

Discover Financial Services Trading Down 0.6 %

NYSE:DFS opened at $175.78 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. Discover Financial Services has a twelve month low of $96.46 and a twelve month high of $188.26. The company has a market cap of $44.13 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45. The business has a 50 day moving average price of $161.42 and a two-hundred day moving average price of $142.13.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the firm earned $2.59 earnings per share. As a group, analysts expect that Discover Financial Services will post 13.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Discover Financial Services

A number of institutional investors have recently made changes to their positions in DFS. Elser Financial Planning Inc acquired a new stake in shares of Discover Financial Services during the second quarter worth $91,044,000. FMR LLC grew its stake in shares of Discover Financial Services by 8.0% in the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after acquiring an additional 558,227 shares in the last quarter. Samlyn Capital LLC increased its position in Discover Financial Services by 368.0% during the second quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock worth $84,594,000 after acquiring an additional 508,504 shares during the period. Mizuho Securities USA LLC raised its stake in Discover Financial Services by 1,272.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after purchasing an additional 245,829 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Discover Financial Services by 67.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 478,599 shares of the financial services provider’s stock worth $62,606,000 after purchasing an additional 192,142 shares in the last quarter. Institutional investors 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; 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.