Zacks: Analysts Anticipate Discover Financial Services (NYSE:DFS) Will Announce Quarterly Sales of $2.89 Billion
Brokerages expect Discover Financial Services (NYSE:DFS) to announce sales of $2.89 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Discover Financial Services’ earnings. The highest sales estimate is $2.91 billion and the lowest is $2.86 billion. Discover Financial Services reported sales of $2.72 billion in the same quarter last year, which indicates a positive year over year growth rate of 6.3%. The firm is expected to issue its next earnings report on Thursday, October 24th.
On average, analysts expect that Discover Financial Services will report full-year sales of $11.44 billion for the current financial year, with estimates ranging from $11.34 billion to $11.49 billion. For the next year, analysts forecast that the company will report sales of $12.02 billion, with estimates ranging from $11.85 billion to $12.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Discover Financial Services.
Discover Financial Services (NYSE:DFS) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.11 by $0.21. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.81 billion. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.41%. Discover Financial Services’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 EPS.
Shares of DFS stock traded down $1.13 during midday trading on Friday, hitting $91.78. 108,213 shares of the company were exchanged, compared to its average volume of 2,026,020. The stock has a market cap of $30.08 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.36 and a beta of 1.54. The company has a quick ratio of 1.38, a current ratio of 1.08 and a debt-to-equity ratio of 2.46. The firm has a 50 day moving average price of $80.07. Discover Financial Services has a 52 week low of $54.36 and a 52 week high of $92.98.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be given a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.92%. Discover Financial Services’s payout ratio is presently 20.54%.
In other news, EVP Daniel Peter Capozzi sold 7,146 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $81.37, for a total value of $581,470.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary K. Bush sold 496 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $77.53, for a total transaction of $38,454.88. Following the completion of the transaction, the director now owns 53,564 shares of the company’s stock, valued at $4,152,816.92. The disclosure for this sale can be found here. Insiders sold a total of 16,297 shares of company stock valued at $1,398,166 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. BTIM Corp. increased its position in Discover Financial Services by 7.1% during the 1st quarter. BTIM Corp. now owns 463,240 shares of the financial services provider’s stock worth $32,964,000 after purchasing an additional 30,550 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Discover Financial Services by 3.1% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 12,386 shares of the financial services provider’s stock worth $881,000 after purchasing an additional 375 shares in the last quarter. Huntington National Bank increased its position in Discover Financial Services by 41.7% during the 1st quarter. Huntington National Bank now owns 7,639 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 2,247 shares in the last quarter. Bruni J V & Co. Co. increased its position in Discover Financial Services by 1.0% during the 1st quarter. Bruni J V & Co. Co. now owns 482,685 shares of the financial services provider’s stock worth $34,348,000 after purchasing an additional 4,911 shares in the last quarter. Finally, Glassman Wealth Services increased its position in Discover Financial Services by 10.2% during the 1st quarter. Glassman Wealth Services now owns 3,873 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 359 shares in the last quarter. Institutional investors and hedge funds own 84.95% 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. 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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