Equities analysts forecast that Charles Schwab Co. (NYSE:SCHW) will post earnings per share of $0.67 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Charles Schwab’s earnings. The highest EPS estimate is $0.69 and the lowest is $0.65. Charles Schwab posted earnings of $0.60 per share in the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The business is expected to issue its next earnings results on Tuesday, July 16th.
According to Zacks, analysts expect that Charles Schwab will report full-year earnings of $2.75 per share for the current financial year, with EPS estimates ranging from $2.71 to $2.81. For the next fiscal year, analysts forecast that the firm will post earnings of $2.99 per share, with EPS estimates ranging from $2.92 to $3.08. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Charles Schwab.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. Charles Schwab had a net margin of 35.27% and a return on equity of 20.79%. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the company posted $0.55 EPS. Charles Schwab’s revenue was up 13.6% on a year-over-year basis.
Several equities research analysts recently issued reports on SCHW shares. Zacks Investment Research lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. UBS Group lowered shares of Charles Schwab from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $48.00 to $42.00 in a research note on Wednesday, February 20th. ValuEngine lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Wolfe Research raised shares of Charles Schwab from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Finally, Morgan Stanley cut their target price on shares of Charles Schwab from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, January 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.22.
SCHW stock opened at $45.66 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 0.83. Charles Schwab has a 1 year low of $37.83 and a 1 year high of $60.22. The firm has a market capitalization of $60.08 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 1.46 and a beta of 1.32.
Charles Schwab declared that its board has authorized a share buyback program on Wednesday, January 30th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 6.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Charles Schwab news, Chairman Charles R. Schwab sold 250,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $47.04, for a total transaction of $11,760,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Terri R. Kallsen sold 41,285 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $46.75, for a total transaction of $1,930,073.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 360,417 shares of company stock valued at $16,845,882. Company insiders own 10.90% of the company’s stock.
Several large investors have recently bought and sold shares of SCHW. Norges Bank bought a new position in shares of Charles Schwab during the 4th quarter worth about $443,292,000. Harris Associates L P increased its holdings in shares of Charles Schwab by 197.1% during the 4th quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock worth $578,932,000 after purchasing an additional 9,248,471 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Charles Schwab by 1,949.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,137,303 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 5,837,890 shares during the period. APG Asset Management N.V. increased its holdings in shares of Charles Schwab by 1,183.6% during the 4th quarter. APG Asset Management N.V. now owns 3,287,200 shares of the financial services provider’s stock worth $119,422,000 after purchasing an additional 3,031,100 shares during the period. Finally, Parnassus Investments CA increased its stake in Charles Schwab by 22.3% in the fourth quarter. Parnassus Investments CA now owns 15,623,778 shares of the financial services provider’s stock valued at $648,856,000 after acquiring an additional 2,850,678 shares during the period. Institutional investors own 80.07% of the company’s stock.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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