Discover Financial Services (NYSE:DFS) to Post Q4 2024 Earnings of $2.98 Per Share, Zacks Research Forecasts

Discover Financial Services (NYSE:DFS) – Analysts at Zacks Research dropped their Q4 2024 earnings per share (EPS) estimates for shares of Discover Financial Services in a research note issued to investors on Wednesday, June 26th. Zacks Research analyst D. Chatterjee now forecasts that the financial services provider will post earnings per share of $2.98 for the quarter, down from their previous forecast 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.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. StockNews.com initiated coverage on Discover Financial Services in a research note on Saturday. They issued a “hold” rating on the stock. Seaport Res Ptn lowered Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. HSBC upped their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Finally, Barclays raised their price objective on shares of Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $126.29.

Discover Financial Services Trading Up 0.5 %

Shares of DFS stock opened at $133.60 on Monday. The company has a market capitalization of $33.50 billion, a P/E ratio of 15.22, a P/E/G ratio of 0.79 and a beta of 1.44. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $133.78. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. The firm has a 50-day moving average price of $124.94 and a 200 day moving average price of $119.04.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.07 billion. During the same period in the previous year, the business posted $3.58 earnings per share.

Institutional Trading of Discover Financial Services

Institutional investors and hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its stake in Discover Financial Services by 35.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,154 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Discover Financial Services by 138.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,659 shares of the financial services provider’s stock valued at $479,000 after buying an additional 2,123 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Discover Financial Services in the 1st quarter valued at $12,685,000. Cetera Advisors LLC increased its position in shares of Discover Financial Services by 57.9% in the 1st quarter. Cetera Advisors LLC now owns 20,340 shares of the financial services provider’s stock valued at $2,666,000 after buying an additional 7,462 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Discover Financial Services by 154.2% during the 1st quarter. Cetera Investment Advisers now owns 68,990 shares of the financial services provider’s stock worth $9,044,000 after buying an additional 41,846 shares during the period. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 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.