Discover Financial Services (DFS) is Downgraded by Macquarie to Neutral

Discover Financial Services (DFS) was Downgraded by Macquarie to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Macquarie advised their investors in a research report released on May 11, 2016.

Many Wall Street Analysts have commented on Discover Financial Services. Company shares were Reiterated by Stifel on Apr 20, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .Shares were Reiterated by Deutsche Bank on Feb 18, 2016 to “Hold” and Lowered the Price Target to $ 61 from a previous price target of $64 .

On the company’s financial health, Discover Financial Services reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.29. The company had revenue of $2224.00 million for the quarter, compared to analysts expectations of $2173.41 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS.

Discover Financial Services opened for trading at $55.55 and hit $56.25 on the upside on Tuesday, eventually ending the session at $55.96, with a gain of 1.45% or 0.8 points. The heightened volatility saw the trading volume jump to 20,00,790 shares. Company has a market cap of $23,068 M.

In a different news, on May 4, 2016, Edward W Mcgrogan (SVP, Controller & CAO) sold 885 shares at $56.43 per share price. According to the SEC, on May 4, 2016, Diane E Offereins (EVP) sold 10,000 shares at $56.41 per share price. On May 4, 2016, David W Nelms (Chairman & CEO) sold 15,000 shares at $56.31 per share price, according to the Form-4 filing with the securities and exchange commission.

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company as well as a financial holding company. The Company provides direct banking products and services and payment services through its subsidiaries. The Company manages its business activities in two segments: Direct Banking and Payment Services. Direct Banking segment includes consumer banking and lending products specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services including private student loans personal loans home loans home equity loans prepaid cards and other consumer lending and deposit products. The Payment Services segment includes PULSE Diners Club and the Company’s network partners business which provides payment transaction processing and settlement services on the Discover Network.

Discover Financial Services

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