Discover Financial Services plans to sell its $10.1 billion private student loan portfolio.The company’s Discover Bank entered into an agreement to sell the portfolio to one or more strategic partnerships made up of funds and accounts managed by global investment firms Carlyle and KKR, Discover said in a Wednesday (July 17) press release.The purchase price is expected to be up to $10.8 billion, according to the release.Subject to customary closing conditions, the transaction is expected to be completed by t ...

RIVERWOODS, ILLINOIS - FEBRUARY 19: A sign sits at the entrance of the Discover Financial Services ... [+] corporate headquarters campus on February 19, 2024 in Riverwoods, Illinois. (Photo by Scott Olson/Getty Images)Getty ImagesDiscover Financial (NYSE: DFS) stock gained 22% YTD, as compared to the 18% rise in the S&P500 index. Notably, Discover Financial’s peer American Express (NYSE: AXP) is up 30% YTD. Overall, DFS is scheduled to report its fiscal Q2 2024 results on Thursday, July 18, 2024. We expect ...

Core Viewpoint - Discover Financial Services (DFS) is anticipated to report an earnings beat for Q2 2024, with earnings per share estimated at $3.06, reflecting a 4.8% increase in estimates over the past 60 days, despite a year-over-year decline of 13.6% [1][2]. Earnings Estimates - The Zacks Consensus Estimate for Q2 revenues is $4.2 billion, indicating a 7.3% growth compared to the same quarter last year [1]. - The current earnings estimate for Q1 is $3.06, while the estimates for future quarters (F1 and F2) are $11.77 and $13.03 respectively [2]. Earnings Surprise History - Discover Financial has missed consensus estimates in the last four quarters, with an average surprise of -30.64% [3][4]. Earnings Prediction Model - The earnings prediction model suggests a potential earnings beat for Discover Financial, supported by a positive Earnings ESP of +1.26% and a Zacks Rank of 3 (Hold) [5]. Revenue Drivers - Revenue growth is expected to be driven by resilient transaction volumes and higher net interest income, with net interest income estimated at $3.44 billion, reflecting an 8.4% increase year-over-year [6]. - Non-interest income is projected to reach $716 million, indicating a 2.1% year-over-year increase, benefiting from improved net discount and interchange revenues [7]. Cost Factors - Operating costs are anticipated to rise by 4.6% year-over-year, influenced by increased compensation costs, marketing expenses, and professional fees [8]. Overall Outlook - Despite challenges from rising operating costs and net funding costs, Discover Financial's revenue growth from net interest and non-interest income, along with strong transaction volumes, positions the stock as a compelling hold for investors [9].

In its upcoming report, Discover (DFS) is predicted by Wall Street analysts to post quarterly earnings of $3.06 per share, reflecting a decline of 13.6% compared to the same period last year. Revenues are forecasted to be $4.16 billion, representing a year-over-year increase of 7.3%.The current level reflects an upward revision of 2.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial project ...

JHVEPhoto While up 10% over the past year, shares of Discover Financial (NYSE:DFS) have had a volatile journey. Management turnover and rising credit losses weighed on shares in mid-2023 and January 2024, but this was upset by the surprising news that Capital One Financial (COF) would acquire DFS, sending shares rallying. I last covered DFS before Q4 earnings, rating shares a “sell.” While they did indeed fall on the earnings report as expected, the COF bid later caused shares to rally. As such, shares ...

Discover Financial Services (DFS) recently announced a collaboration with the Exchange Credit Program to broaden acceptance of the MILITARY STAR card across military installations. This collaboration, set to start in September 2024, marks a significant expansion for Discover in the military market.This move bodes well for DFS as it will be able to enhance service for military communities and provide seamless payment solutions through its Discover Global Network. The MILITARY STAR card, managed by the Army & ...

The Q2 earnings season is just around the corner, with the big banks kicking the period into a much higher gear starting this Friday with their results. The overall earnings picture has remained stable leading up to the period, with Tech expected to deliver another big showing.Of course, there are some worthy reports that investors should keep on their radars, a list that includes beloved Nvidia (NVDA) , McDonald’s (MCD) , and Discover Financial Services (DFS) .With Nvidia, we’ll get some more color on the ...

The market expects Discover (DFS) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Jul ...

Discover Financial Services (DFS) recently announced that it has introduced Balance+, a new overdraft protection tool for its debit card customers. This new feature for its Cashback Debit Checking account will offer fee-free overdraft protection for debit card purchases, allowing customers to overdraw their account by up to $200 without incurring any fees.To qualify, accounts must be in good standing, have a positive balance and receive at least one direct deposit of $200 or more each month for the last two ...

Discover Financial Services (DFS) recently announced a strategic partnership with the Network for Electronic Transfers (“NETS") in a bid to expand its footprint in Singapore. This collaboration aims to enhance payment experience for DFS’ cardholders in Singapore, by providing flexibility to use their cards at Point-of-Sale across the country.This move bodes well for DFS as it will be leveraging NETS’s huge network of 130,000 plus acceptance points. DFS’s cardholders can access Point of Sale in segments like ...