William Blair Equities Analysts Decrease Earnings Estimates for Discover Financial Services (NYSE:DFS)

Discover Financial Services (NYSE:DFS) – Equities research analysts at William Blair lowered their Q4 2017 earnings estimates for shares of Discover Financial Services in a report issued on Tuesday. William Blair analyst R. Napoli now anticipates that the financial services provider will post earnings per share of $1.41 for the quarter, down from their prior estimate of $1.48. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Discover Financial Services’ Q2 2018 earnings at $1.64 EPS, Q3 2018 earnings at $1.70 EPS and Q4 2018 earnings at $1.65 EPS.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Tuesday, April 25th. The financial services provider reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.01. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.36 billion. Discover Financial Services had a net margin of 22.08% and a return on equity of 21.86%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.35 earnings per share.

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A number of other analysts have also issued reports on DFS. Deutsche Bank AG lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating and reduced their price target for the stock from $87.00 to $71.00 in a research report on Monday, May 1st. Instinet reissued a “buy” rating and issued a $81.00 price target (down from $86.00) on shares of Discover Financial Services in a research report on Wednesday, July 12th. Wells Fargo & Company lowered shares of Discover Financial Services to a “buy” rating and set a $70.00 price target for the company. in a research report on Friday, May 19th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Discover Financial Services in a research report on Friday, May 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $75.00 price objective (down previously from $81.00) on shares of Discover Financial Services in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $75.56.

Shares of Discover Financial Services (DFS) traded up 2.07% during mid-day trading on Thursday, hitting $62.64. 2,297,659 shares of the stock traded hands. The firm’s 50 day moving average price is $60.75 and its 200-day moving average price is $65.59. Discover Financial Services has a 12-month low of $53.91 and a 12-month high of $74.33. The stock has a market cap of $23.82 billion, a P/E ratio of 10.70 and a beta of 1.47.

Several institutional investors have recently modified their holdings of DFS. Jaffetilchin Investment Partners LLC raised its position in shares of Discover Financial Services by 0.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 3,230 shares of the financial services provider’s stock valued at $221,000 after buying an additional 24 shares in the last quarter. Court Place Advisors LLC raised its position in shares of Discover Financial Services by 0.7% in the first quarter. Court Place Advisors LLC now owns 5,831 shares of the financial services provider’s stock valued at $399,000 after buying an additional 39 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Discover Financial Services by 1.1% in the first quarter. Quadrant Capital Group LLC now owns 4,296 shares of the financial services provider’s stock valued at $287,000 after buying an additional 46 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock valued at $147,000 after buying an additional 48 shares in the last quarter. Finally, Park National Corp OH raised its position in shares of Discover Financial Services by 0.9% in the first quarter. Park National Corp OH now owns 7,934 shares of the financial services provider’s stock valued at $543,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

In other news, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $62.42, for a total transaction of $499,360.00. Following the completion of the transaction, the executive vice president now directly owns 205,149 shares in the company, valued at approximately $12,805,400.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO R. Mark Graf sold 29,584 shares of the business’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $64.50, for a total value of $1,908,168.00. Following the transaction, the chief financial officer now owns 98,905 shares of the company’s stock, valued at $6,379,372.50. The disclosure for this sale can be found here. Insiders have sold a total of 142,600 shares of company stock valued at $8,976,046 over the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Discover Financial Services declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $2.23 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Discover Financial Services Company Profile

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

Earnings History and Estimates for Discover Financial Services (NYSE:DFS)

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