Brokerages expect Charles Schwab Co. (NYSE:SCHW) to report $2.60 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Charles Schwab’s earnings. The highest sales estimate is $2.65 billion and the lowest is $2.56 billion. Charles Schwab posted sales of $2.67 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The firm is expected to announce its next earnings results on Wednesday, January 15th.
According to Zacks, analysts expect that Charles Schwab will report full year sales of $10.72 billion for the current year, with estimates ranging from $10.68 billion to $10.80 billion. For the next financial year, analysts anticipate that the firm will report sales of $10.63 billion, with estimates ranging from $10.36 billion to $10.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Charles Schwab.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.05. Charles Schwab had a net margin of 35.12% and a return on equity of 20.85%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Charles Schwab’s quarterly revenue was up 5.1% on a year-over-year basis.
A number of research analysts have commented on SCHW shares. UBS Group upped their target price on shares of Charles Schwab from $33.00 to $35.00 and gave the company a “sell” rating in a research report on Wednesday, October 16th. Wolfe Research raised shares of Charles Schwab from a “peer perform” rating to an “outperform” rating and upped their target price for the company from $42.00 to $46.00 in a research report on Tuesday, September 3rd. Morgan Stanley upped their target price on shares of Charles Schwab from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. decreased their target price on shares of Charles Schwab from $48.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Citigroup upped their target price on shares of Charles Schwab from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Charles Schwab currently has an average rating of “Hold” and a consensus price target of $44.38.
NYSE SCHW traded up $0.04 during trading hours on Thursday, reaching $43.54. The company had a trading volume of 4,190,290 shares, compared to its average volume of 8,094,271. The stock has a 50-day moving average of $40.03 and a 200 day moving average of $41.16. Charles Schwab has a 1-year low of $34.58 and a 1-year high of $48.52. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $56.76 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 2.73 and a beta of 1.32.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.56%. Charles Schwab’s dividend payout ratio is presently 27.76%.
In other news, EVP Jonathan M. Craig sold 3,740 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $38.97, for a total transaction of $145,747.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Charles R. Schwab sold 105,422 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $40.08, for a total transaction of $4,225,313.76. The disclosure for this sale can be found here. Insiders have sold 219,677 shares of company stock worth $8,993,241 in the last three months. Corporate insiders own 10.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SCHW. Venturi Wealth Management LLC acquired a new stake in Charles Schwab in the third quarter valued at approximately $26,000. FNY Investment Advisers LLC raised its holdings in Charles Schwab by 133.3% in the second quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in Charles Schwab by 303.0% in the third quarter. Flagship Harbor Advisors LLC now owns 802 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 603 shares in the last quarter. Gradient Investments LLC raised its holdings in Charles Schwab by 526.2% in the third quarter. Gradient Investments LLC now owns 814 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 684 shares in the last quarter. Finally, Glassman Wealth Services raised its holdings in Charles Schwab by 51.0% in the second quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 371 shares in the last quarter. 79.10% of the stock is currently owned by institutional investors and hedge funds.
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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