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Company Update: Discover Financial Services (NYSE:DFS) – Discover Financial Services Reports First Quarter Net Income of $575 Million or $1.35 Per Diluted Share

[Business Wire] – Discover Financial Services today reported net income of $575 million or $1.35 per diluted share for the first quarter of 2016, as compared to $586 million or $1.28 per diluted share for the first quarter of 2015. Read more on this. Discover Financial Services (DFS) , currently valued at $21.77B, started the session at $52.48. During the trading session, DFS traded between $52.21 to $52.74 with a one year range of $42.86 to $60.57. Priced at 9.34x this year’s forecasted earnings, DFS shares are relatively inexpensive compared to the industry’s 13.75x forward p/e ratio. The company pays shareholders $1.12 per share annually in dividends, yielding 2.16%. According to a consensus of 27 analysts, the earnings estimate of $1.29 per share would be $0.01 better than the year-ago quarter and a $0.08 sequential decrease. Investors should also note that the full-year EPS estimate of $5.56 is a $0.43 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.17 Billion. If reported, that would be a 0.00% decrease over the year-ago quarter. In terms of ratings, BofA/Merrill downgraded DFS from Buy to Neutral (Feb 11, 2016). Previously, JP Morgan downgraded DFS from Overweight to Neutral. Investors should keep in mind is that the average price target is $61.08, which is 16.39% above where the stock opened this morning. See more in (NYSE:DFS) Similar Articles: Company Update: Discover Financial Services (NYSE:DFS) – Discover Financial Services Names Joseph F. Eazor to Its Board of Directors Stock Update: Discover Financial Services (NYSE:DFS) – Discover Recognized as a Best Online Bank and as Having among the Best CD Accounts for 2016 Market Update: Discover Financial Services (NYSE:DFS) – Discover Financial Services Joins Banking Industry Architecture Network
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