Company Update (NYSE:DFS): Discover Financial Services Announces 2016 Annual Meeting of Shareholders

[Business Wire] – Discover Financial Services plans to host its 2016 Annual Meeting of Shareholders at its headquarters in Riverwoods on Thursday, May 12, 2016, at 9:00 a.m. Central time. Read more on this. Discover Financial Services (DFS) , valued at $23.60B, started the session at $56.51. During today’s session, DFS traded between $56.51 to $57.11 with its 52-week range being $42.86 to $60.57. DFS shares are currently priced at 10.05x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.27x forward p/e ratio. And for income investors, the company pays shareholders $1.12 per share annually in dividends, yielding 1.98%. In a review of the consensus earnings estimate this quarter, 24 sell-side analysts are looking at $1.42 per share, which would be $0.09 better than the year-ago quarter and a $0.05 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $5.68, which would be a $0.55 better when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.22 Billion. If reported, that would be a 1.83% increase 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. The average price target for DFS shares is $62.25, which is 10.16% above where the stock opened this morning. See more in (NYSE:DFS) Similar Articles: Company Update: Discover Financial Services (NYSE:DFS) – Discover Financial Services Reports First Quarter Net Income of $575 Million or $1.35 Per Diluted Share 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