Discover Financial Services (DFS) Expected to Announce Quarterly Earnings on Wednesday

Discover Financial Services (NYSE:DFS) will likely be announcing its earnings results after the market closes on Wednesday, January 22nd. Analysts expect the company to announce earnings of $3.13 per share and revenue of $4,401,991.72 billion for the quarter.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the business posted $2.59 earnings per share. On average, analysts expect Discover Financial Services to post $13 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Discover Financial Services Stock Up 3.7 %

NYSE DFS traded up $6.65 during trading hours on Wednesday, hitting $187.49. 1,204,029 shares of the company were exchanged, compared to its average volume of 1,254,191. The company has a 50 day moving average of $176.40 and a two-hundred day moving average of $151.42. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The firm has a market cap of $47.12 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.12 and a beta of 1.46. Discover Financial Services has a 52-week low of $96.46 and a 52-week high of $188.99.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DFS. Royal Bank of Canada lifted their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Barclays upgraded shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $137.00 to $186.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. cut their price target on Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating on the stock in a research note on Tuesday. Evercore ISI increased their price objective on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Truist Financial began coverage on Discover Financial Services in a research report on Tuesday, January 7th. They set a “buy” rating and a $233.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $164.75.

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.