Morgan Stanley Reiterates Overweight Rating for Discover Financial Services (DFS)
Discover Financial Services (NYSE:DFS)‘s stock had its “overweight” rating reiterated by research analysts at Morgan Stanley in a research note issued to investors on Thursday, July 6th. They currently have a $75.00 price target on the financial services provider’s stock, down from their previous price target of $81.00. Morgan Stanley’s target price would indicate a potential upside of 22.43% from the company’s current price.
Several other equities analysts have also commented on DFS. Rafferty Capital Markets reissued a “hold” rating and set a $70.00 price objective on shares of Discover Financial Services in a research report on Wednesday, March 29th. Jefferies Group LLC reissued a “buy” rating and set a $82.00 price objective on shares of Discover Financial Services in a research report on Friday, April 7th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $84.00 price objective on shares of Discover Financial Services in a research report on Monday, April 10th. BMO Capital Markets reissued a “hold” rating and set a $68.00 price objective on shares of Discover Financial Services in a research report on Tuesday, April 11th. Finally, Evercore ISI lowered their price objective on Discover Financial Services from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. Discover Financial Services currently has a consensus rating of “Buy” and a consensus price target of $74.58.
Discover Financial Services (NYSE DFS) traded down 0.26% during mid-day trading on Thursday, hitting $61.26. 2,119,031 shares of the stock traded hands. Discover Financial Services has a 1-year low of $53.91 and a 1-year high of $74.33. The company has a 50-day moving average of $60.07 and a 200 day moving average of $66.69. The firm has a market capitalization of $23.29 billion, a P/E ratio of 10.46 and a beta of 1.47.
Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Discover Financial Services had a return on equity of 21.86% and a net margin of 22.08%. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm posted $1.35 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Discover Financial Services will post $6.00 EPS for the current year.
In related news, CFO R. Mark Graf sold 29,584 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $64.50, for a total value of $1,908,168.00. Following the transaction, the chief financial officer now directly owns 98,905 shares of the company’s stock, valued at approximately $6,379,372.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Roger C. Hochschild sold 15,258 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $62.28, for a total value of $950,268.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,600 shares of company stock valued at $8,976,046. Corporate insiders own 0.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Orrstown Financial Services Inc. increased its stake in Discover Financial Services by 64.2% in the first quarter. Orrstown Financial Services Inc. now owns 1,716 shares of the financial services provider’s stock worth $117,000 after buying an additional 671 shares during the last quarter. FNY Managed Accounts LLC bought a new position in Discover Financial Services during the first quarter valued at $124,000. Perigon Wealth Management LLC increased its position in Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock valued at $147,000 after buying an additional 48 shares in the last quarter. Advisory Services Network LLC bought a new position in Discover Financial Services during the first quarter valued at $183,000. Finally, Whittier Trust Co. increased its position in Discover Financial Services by 32.4% in the first quarter. Whittier Trust Co. now owns 2,820 shares of the financial services provider’s stock valued at $193,000 after buying an additional 690 shares in the last quarter. 85.33% of the stock is currently owned by institutional investors.
About Discover Financial Services
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
Receive News & Stock Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related stocks with our FREE daily email newsletter.