Discover Financial Services (NYSE:DFS) direct banking and payment services operator, is expected to report third quarter earnings results, after market close, on Wednesday 21st October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 1.53 per share.
Looking ahead, the full year income are expected at $ 1.72 per share on the revenues of $ 10970.10 million.
Previous Quarter Performance
Discover Financial Services outlined loss for the second quarter of $ 1.20 per share, from the revenue of $ 2,662.00 million. The quarterly revenues reduced 4.88 percent compared with the same quarter last year. Street analysts expected Discover Financial Services to report loss of $ 0.28 per share on revenue of $ 2656.30 million for the second quarter. The bottom line results missed street analysts by $ 0.92 or 328.57 percent, at the same time, top line results outshined analysts by $ 5.70 million or 0.21 percent.
Stock Performance
Shares of Discover Financial Services traded low $ -0.55 or -0.87 percent on Tuesday, reaching $ 63.01 with volume of 2.05 million shares. Discover Financial Services has traded high as $ 64.64 and has cracked $ 62.80 on the downward trend
The closing price of $ 63.01, representing a 173.38 % increase from the 52 week low of $ 23.25 and a 27.3 % decrease over the 52 week high of $ 87.43.
The company has a market capital of $ 19.31 billion and is part of the Financial Services sector and Credit Services industry.
Recent Analyst recommendations
- On 9th October 2020, maintained by Piper Sandler at Neutral rating, with $ 66.00 target price.
- On 5th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 63.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.44 per share on July 21, 2020. The dividend were payable on September 3, 2020 to holders of record as of the close of business on August 20, 2020 and ex-dividend date on August 19, 2020.
Conference Call
Discover Financial Services will be hosting a conference call at 8:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.discover.com
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit. The Payment Services segment operates the PULSE network, an automated teller machine, debit, and electronic funds transfer network; Diners Club International, a payments network that issues Diners Club branded charge cards and provides card acceptance services; and Discover Network that processes transactions for Discover-branded credit and debit cards, as well as provides payment transaction processing and settlement services.
