Discover Financial Services (NYSE:DFS) Posts Earnings Results, Beats Estimates By $1.98 EPS

Discover Financial Services (NYSE:DFS) announced its quarterly earnings results on Wednesday. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98, Zacks reports. Discover Financial Services had a return on equity of 22.08% and a net margin of 13.78%.

Discover Financial Services Stock Performance

Shares of NYSE DFS traded up $8.72 during trading on Wednesday, reaching $197.98. 3,322,701 shares of the company traded hands, compared to its average volume of 1,513,642. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 12-month low of $99.07 and a 12-month high of $198.97. The firm’s fifty day simple moving average is $177.30 and its 200 day simple moving average is $153.37. The stock has a market cap of $49.75 billion, a P/E ratio of 15.98, a PEG ratio of 1.09 and a beta of 1.46.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DFS. Truist Financial initiated coverage on Discover Financial Services in a report on Tuesday, January 7th. They issued a “buy” rating and a $233.00 price target on the stock. Royal Bank of Canada raised their price objective on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Evercore ISI raised their price objective on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price objective on Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their price target on Discover Financial Services from $160.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $171.71.

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; 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.