HomeNewsEconomicsDiscover Financial (NYSE: DFS) Earnings Dip in Q4

Discover Financial (NYSE: DFS) Earnings Dip in Q4

  • Gennaio 19, 2024
  • Posted by: Oliver
  • Categoria: Economics, Finance & accounting
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Financial services company Discover Financial Services (NYSE: DFS) dropped in pre-market trading after the company reported Q4 earnings of $1.54 per share, a decline of 59% year-over-year and below consensus estimates of $2.49 per share.

Discover Financial Services generated net revenues (net of interest expense) of $4.2 billion, up by 13% year-over-year and above Street estimates of $4.1 billion.

Moreover, the company declared a semi-annual dividend of $27.50 per depository share for Fixed Rate Non-Cumulative Series C Preferred Stock payable on April 30 to shareholders of record on April 15. DFS also declared a semi-annual dividend of $30.625 per depository share for Series D Preferred Stock payable on March 25  to holders of record at the close of business on February 22.

Additionally, Discovery Financial declared a quarterly dividend of $0.70 per share for common stock payable on March 7, 2024.

Is DFS a Good Stock to Buy?

Analysts remain cautiously optimistic about DFS stock with a Moderate Buy consensus rating based on eight Buys and nine Holds. Over the past year, DFS stock has gained by more than 9%, and the average DFS price target of $118.24 implies an upside potential of 8.7% at current levels.



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