Discover Financial Services (NYSE:DFS) PT Raised to $161.00 at Royal Bank of Canada

Discover Financial Services (NYSE:DFS) had its price target hoisted by stock analysts at Royal Bank of Canada from $148.00 to $161.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 6.96% from the stock’s previous close.

Several other analysts have also commented on the company. Jefferies Financial Group increased their price objective on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. BMO Capital Markets increased their price objective on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. StockNews.com assumed coverage on Discover Financial Services in a report on Friday, October 11th. They set a “hold” rating for the company. Evercore ISI increased their price objective on Discover Financial Services from $140.00 to $156.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their price objective on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $134.65.

Discover Financial Services Stock Up 2.0 %

Shares of NYSE DFS opened at $150.53 on Friday. 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 has a market capitalization of $37.75 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The stock’s fifty day simple moving average is $136.63 and its two-hundred day simple moving average is $130.89. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $152.90.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter last year, the firm earned $2.59 EPS. As a group, analysts expect that Discover Financial Services will post 13.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Discover Financial Services

A number of institutional investors have recently modified their holdings of the stock. Axxcess Wealth Management LLC grew its position in shares of Discover Financial Services by 135.1% during the 1st quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider’s stock valued at $1,022,000 after acquiring an additional 4,478 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Discover Financial Services during the 1st quarter valued at about $983,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Discover Financial Services during the 2nd quarter valued at about $4,835,000. Janus Henderson Group PLC grew its position in shares of Discover Financial Services by 61.0% during the 1st quarter. Janus Henderson Group PLC now owns 62,529 shares of the financial services provider’s stock valued at $8,197,000 after acquiring an additional 23,702 shares during the period. Finally, Forge First Asset Management Inc. acquired a new stake in shares of Discover Financial Services during the 1st quarter valued at about $13,341,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

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.