Stock analysts at Buckingham Research began coverage on shares of Discover Financial Services (NYSE:DFS) in a research report issued on Monday. The brokerage set a “buy” rating and a $74.00 price target on the financial services provider’s stock. Buckingham Research’s price target would suggest a potential upside of 14.76% from the company’s current price.

Several other brokerages also recently issued reports on DFS. BidaskClub raised shares of Discover Financial Services from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Discover Financial Services in a report on Friday, June 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $75.00 price target (down from $81.00) on shares of Discover Financial Services in a report on Thursday, July 6th. Instinet restated a “buy” rating and set a $81.00 target price (down previously from $86.00) on shares of Discover Financial Services in a report on Wednesday, July 12th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $70.00 price target (down from $79.00) on shares of Discover Financial Services in a report on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the stock. Discover Financial Services presently has an average rating of “Buy” and a consensus target price of $73.95.

Shares of Discover Financial Services (DFS) opened at 64.48 on Monday. Discover Financial Services has a one year low of $53.91 and a one year high of $74.33. The firm’s 50 day moving average is $59.72 and its 200-day moving average is $62.41. The firm has a market capitalization of $24.01 billion, a PE ratio of 11.12 and a beta of 1.47.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.05). Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the company earned $1.47 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. On average, equities research analysts predict that Discover Financial Services will post $5.92 earnings per share for the current fiscal year.

Discover Financial Services announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $2.23 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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In other Discover Financial Services news, EVP Carlos Minetti sold 8,000 shares of Discover Financial Services stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $61.29, for a total transaction of $490,320.00. Following the transaction, the executive vice president now owns 197,149 shares of the company’s stock, valued at approximately $12,083,262.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Edward W. Mcgrogan sold 1,228 shares of Discover Financial Services stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $61.06, for a total transaction of $74,981.68. Following the transaction, the senior vice president now directly owns 13,085 shares in the company, valued at approximately $798,970.10. The disclosure for this sale can be found here. Insiders have sold 103,744 shares of company stock valued at $6,252,057 in the last quarter. 0.96% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Perpetual Ltd bought a new stake in shares of Discover Financial Services in the 2nd quarter worth approximately $1,891,000. Sentry Investment Management LLC raised its position in shares of Discover Financial Services by 32.7% in the second quarter. Sentry Investment Management LLC now owns 28,414 shares of the financial services provider’s stock valued at $1,767,000 after purchasing an additional 7,000 shares during the period. Toronto Dominion Bank raised its position in shares of Discover Financial Services by 22.3% in the second quarter. Toronto Dominion Bank now owns 135,459 shares of the financial services provider’s stock valued at $8,424,000 after purchasing an additional 24,725 shares during the period. Advisory Services Network LLC raised its position in shares of Discover Financial Services by 8.5% in the second quarter. Advisory Services Network LLC now owns 2,911 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 229 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its stake in shares of Discover Financial Services by 11.4% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 10,462 shares of the financial services provider’s stock valued at $650,000 after buying an additional 1,072 shares in the last quarter. Institutional investors own 85.45% of the company’s stock.

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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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