Discover Financial Services (NYSE:DFS) Announces Quarterly Earnings Results

Discover Financial Services (NYSE:DFS) posted its quarterly earnings data on Wednesday. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate 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 Trading Up 4.6 %

NYSE:DFS traded up $8.72 during trading hours on Wednesday, reaching $197.98. 3,322,701 shares of the stock were exchanged, compared to its average volume of 1,513,642. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average of $177.30 and a two-hundred day moving average of $153.37. Discover Financial Services has a twelve month low of $99.07 and a twelve month high of $198.97. The company has a market capitalization of $49.75 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.09 and a beta of 1.46.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DFS shares. Wells Fargo & Company boosted 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. Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Evercore ISI boosted their target price on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. StockNews.com upgraded Discover Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Finally, Truist Financial started coverage on Discover Financial Services in a report on Tuesday, January 7th. They set a “buy” rating and a $233.00 target price on the stock. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Discover Financial Services currently has an average rating of “Moderate Buy” and an average target price of $171.71.

Discover Financial Services Company Profile

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.