JPMorgan Chase & Co. Cuts Discover Financial Services (NYSE:DFS) Price Target to $146.00

Discover Financial Services (NYSE:DFS) had its price objective cut by JPMorgan Chase & Co. from $150.00 to $146.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada upped their price objective on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods boosted their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company increased their price objective on Discover Financial Services from $160.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Friday, January 3rd. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the company from $150.00 to $239.00 in a research note on Monday. Finally, Barclays upgraded shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $137.00 to $186.00 in a research report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.75.

Discover Financial Services Stock Down 1.3 %

DFS opened at $185.04 on Tuesday. The company has a market capitalization of $46.50 billion, a P/E ratio of 14.93, a P/E/G ratio of 0.99 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.03. The firm’s fifty day moving average price is $176.50 and its two-hundred day moving average price is $151.67. Discover Financial Services has a fifty-two week low of $96.46 and a fifty-two week high of $188.99.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 22.08%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the business earned $2.59 EPS. On average, analysts anticipate that Discover Financial Services will post 14.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC raised its position in shares of Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after acquiring an additional 558,227 shares during the last quarter. Samlyn Capital LLC increased its position in Discover Financial Services by 368.0% in the second quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock worth $84,594,000 after purchasing an additional 508,504 shares during the period. Mizuho Securities USA LLC raised its holdings in Discover Financial Services by 1,272.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after purchasing an additional 245,829 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Discover Financial Services by 67.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 478,599 shares of the financial services provider’s stock valued at $62,606,000 after purchasing an additional 192,142 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Discover Financial Services during the 3rd quarter valued at about $21,169,000. Institutional investors and hedge funds 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; 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.