Discover Financial Services Forecasted to Post FY2024 Earnings of $10.00 Per Share (NYSE:DFS)

Discover Financial Services (NYSE:DFS) – Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Discover Financial Services in a note issued to investors on Wednesday, May 1st. Zacks Research analyst D. Chatterjee now forecasts that the financial services provider will post earnings per share of $10.00 for the year, down from their previous forecast of $10.09. The consensus estimate for Discover Financial Services’ current full-year earnings is $11.69 per share. Zacks Research also issued estimates for Discover Financial Services’ Q4 2025 earnings at $2.87 EPS.

Several other equities analysts have also recently weighed in on DFS. Citigroup boosted their price objective on Discover Financial Services from $127.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Discover Financial Services from $140.00 to $111.00 and set a “hold” rating for the company in a research report on Friday, January 19th. The Goldman Sachs Group dropped their target price on shares of Discover Financial Services from $139.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday, January 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $140.00 price target (up from $117.00) on shares of Discover Financial Services in a report on Wednesday, February 21st. Finally, Evercore ISI boosted their price objective on shares of Discover Financial Services from $117.00 to $140.00 and gave the stock an “in-line” rating in a report on Thursday, February 22nd. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.29.

Discover Financial Services Stock Up 0.4 %

DFS stock opened at $125.04 on Friday. The stock has a market capitalization of $31.34 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 0.73 and a beta of 1.43. The company has a 50-day moving average of $124.41 and a two-hundred day moving average of $108.48. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $131.65. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.13.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DFS. Partnership Wealth Management LLC bought a new stake in shares of Discover Financial Services in the 4th quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new stake in Discover Financial Services during the fourth quarter worth about $28,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter worth approximately $31,000. Riverview Trust Co acquired a new stake in shares of Discover Financial Services during the first quarter worth approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $35,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is 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.