Q4 2024 Earnings Forecast for Discover Financial Services Issued By Zacks Research (NYSE:DFS)

Discover Financial Services (NYSE:DFS) – Stock analysts at Zacks Research reduced their Q4 2024 earnings per share (EPS) estimates for shares of Discover Financial Services in a report issued on Wednesday, June 26th. Zacks Research analyst D. Chatterjee now forecasts that the financial services provider will earn $2.98 per share for the quarter, down from their prior 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.

Several other research firms also recently issued reports on DFS. BTIG Research initiated coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating for the company. JPMorgan Chase & Co. raised their target price on Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. StockNews.com started coverage on Discover Financial Services in a research report on Saturday. They issued a “hold” rating on the stock. Barclays raised their price objective on Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group lifted their price objective on Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $126.29.

Discover Financial Services Stock Up 0.5 %

NYSE:DFS opened at $133.60 on Monday. Discover Financial Services has a one year low of $79.04 and a one year high of $133.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $33.50 billion, a PE ratio of 15.22, a P/E/G ratio of 0.79 and a beta of 1.44. The firm’s 50 day simple moving average is $124.94 and its 200 day simple moving average is $119.04.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter last year, the firm posted $3.58 earnings per share.

Institutional Investors Weigh In On Discover Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Partnership Wealth Management LLC purchased a new position in Discover Financial Services during the 4th quarter worth $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Discover Financial Services during the 4th quarter worth approximately $28,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Discover Financial Services in the 4th quarter worth approximately $31,000. Riverview Trust Co bought a new position in shares of Discover Financial Services in the first quarter valued at approximately $34,000. Finally, New Covenant Trust Company N.A. bought a new stake in Discover Financial Services during the first quarter worth $34,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders 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 dividend yield of 2.10%. The ex-dividend date of this dividend was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

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; 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.