Discover Financial Services (NYSE:DFS) Releases Quarterly Earnings Results, Beats Estimates By $0.41 EPS

Discover Financial Services (NYSE:DFS) announced its quarterly earnings results on Wednesday. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41, Briefing.com reports. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the previous year, the business posted $2.59 EPS.

Discover Financial Services Price Performance

NYSE DFS opened at $147.54 on Thursday. The business’s fifty day moving average is $136.12 and its 200 day moving average is $130.75. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $149.97. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. The company has a market capitalization of $37.00 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.90%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Discover Financial Services from $140.00 to $156.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. Jefferies Financial Group upped their price objective on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Barclays lifted their target price on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, BMO Capital Markets increased their price objective on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus price target of $133.88.

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.