Discover Financial Services (NYSE:DFS) had its price target dropped by research analysts at JPMorgan Chase & Co. from $169.00 to $129.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 17.82% from the stock's current price.
Several other research firms also recently weighed in on DFS. Wells Fargo & Company boosted their target price on Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a research report on Friday, January 24th. StockNews.com downgraded shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. UBS Group upgraded shares of Discover Financial Services from a "neutral" rating to a "buy" rating and raised their target price for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Keefe, Bruyette & Woods upped their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Finally, Royal Bank of Canada raised their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Discover Financial Services has an average rating of "Hold" and a consensus target price of $188.40.
Get Our Latest Research Report on Discover Financial Services
Discover Financial Services Price Performance
NYSE:DFS traded down $1.64 during trading hours on Tuesday, reaching $156.98. The stock had a trading volume of 1,581,144 shares, compared to its average volume of 1,579,890. The stock has a market capitalization of $39.50 billion, a PE ratio of 9.84, a PEG ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The company has a 50 day moving average price of $175.40 and a two-hundred day moving average price of $171.86. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09.
Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. As a group, sell-side analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Discover Financial Services
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hemington Wealth Management boosted its position in Discover Financial Services by 11.0% during the fourth quarter. Hemington Wealth Management now owns 503 shares of the financial services provider's stock worth $87,000 after purchasing an additional 50 shares in the last quarter. Rehmann Capital Advisory Group increased its position in shares of Discover Financial Services by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 5,152 shares of the financial services provider's stock valued at $892,000 after buying an additional 51 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Discover Financial Services by 0.6% during the 4th quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider's stock worth $1,602,000 after buying an additional 56 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of Discover Financial Services by 0.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider's stock valued at $1,067,000 after buying an additional 57 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Discover Financial Services by 4.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider's stock valued at $244,000 after buying an additional 57 shares in the last quarter. Institutional investors own 86.94% of the company's stock.
About Discover Financial Services
(
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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.
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