Discover Financial Services (NYSE:DFS) posted its earnings results on Tuesday. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.17, MarketWatch Earnings reports. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.81 billion. Discover Financial Services had a return on equity of 11.00% and a net margin of 7.89%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.25 earnings per share.
NYSE DFS traded down $5.65 during trading hours on Thursday, reaching $94.24. 5,966,026 shares of the stock traded hands, compared to its average volume of 3,203,770. The stock has a 50 day simple moving average of $89.43 and a two-hundred day simple moving average of $67.02. Discover Financial Services has a 1 year low of $23.25 and a 1 year high of $100.96. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $28.88 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 4.21 and a beta of 1.80.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 4th. Shareholders of record on Thursday, February 18th will be given a dividend of $0.44 per share. The ex-dividend date is Wednesday, February 17th. This represents a $1.76 dividend on an annualized basis and a yield of 1.87%. Discover Financial Services’s payout ratio is 19.38%.
Several equities research analysts have issued reports on the company. TheStreet upgraded Discover Financial Services from a “c” rating to a “b-” rating in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft increased their target price on Discover Financial Services from $74.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, January 6th. Piper Sandler increased their target price on Discover Financial Services from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 17th. Evercore ISI upgraded Discover Financial Services from an “underperform” rating to an “in-line” rating and set a $86.00 target price on the stock in a research report on Monday, December 7th. Finally, Oppenheimer restated a “hold” rating on shares of Discover Financial Services in a research report on Tuesday, December 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Discover Financial Services currently has a consensus rating of “Hold” and a consensus price target of $77.94.
In other Discover Financial Services news, EVP Robert Andrew Eichfeld sold 1,519 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $67.77, for a total transaction of $102,942.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.
About Discover Financial Services
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. It operates in two segments, Direct Banking and Payment Services. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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