StockNews.com Begins Coverage on Discover Financial Services (NYSE:DFS)

Stock analysts at StockNews.com began coverage on shares of Discover Financial Services (NYSE:DFS) in a research report issued on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. BTIG Research began coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating for the company. JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Barclays increased their target price on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Jefferies Financial Group boosted their price target on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada lifted their price objective on Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $132.94.

Discover Financial Services Price Performance

Shares of DFS opened at $137.32 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The stock’s 50 day moving average is $134.37 and its two-hundred day moving average is $129.50. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61. The firm has a market capitalization of $34.44 billion, a PE ratio of 15.66, a P/E/G ratio of 0.94 and a beta of 1.42.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $3.54 earnings per share. Research analysts anticipate that Discover Financial Services will post 12.88 earnings per share for the current year.

Hedge Funds Weigh In On Discover Financial Services

A number of institutional investors have recently bought and sold shares of DFS. Envestnet Asset Management Inc. lifted its holdings in shares of Discover Financial Services by 60.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after purchasing an additional 803,738 shares in the last quarter. Elser Financial Planning Inc purchased a new stake in Discover Financial Services in the 2nd quarter worth about $91,044,000. Magnetar Financial LLC purchased a new stake in Discover Financial Services in the 1st quarter worth about $71,693,000. Samlyn Capital LLC boosted its position in Discover Financial Services by 368.0% during the 2nd quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock worth $84,594,000 after acquiring an additional 508,504 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Discover Financial Services by 67.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,257,086 shares of the financial services provider’s stock valued at $141,297,000 after acquiring an additional 506,801 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

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; 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.