The Charles Schwab (NYSE:SCHW) announced its quarterly earnings results on Monday. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04, Fidelity Earnings reports. The Charles Schwab had a return on equity of 13.52% and a net margin of 29.80%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter last year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 60.2% on a year-over-year basis.
Shares of NYSE SCHW traded down $0.62 during mid-day trading on Wednesday, reaching $58.61. The company had a trading volume of 9,721,373 shares, compared to its average volume of 10,719,790. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.28 and a current ratio of 0.28. The Charles Schwab has a one year low of $28.00 and a one year high of $62.04. The firm has a market cap of $109.98 billion, a price-to-earnings ratio of 26.93 and a beta of 1.17. The business’s 50-day simple moving average is $53.68 and its 200 day simple moving average is $41.81.
Several equities research analysts have issued reports on SCHW shares. Wells Fargo & Company raised their price target on The Charles Schwab from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America raised The Charles Schwab from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $68.00 in a report on Tuesday, January 12th. Morgan Stanley raised their price target on The Charles Schwab from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, January 11th. Deutsche Bank Aktiengesellschaft lifted their target price on The Charles Schwab from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Argus lifted their target price on The Charles Schwab from $42.00 to $50.00 in a report on Friday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The Charles Schwab has an average rating of “Buy” and an average target price of $54.31.
In related news, Chairman Charles R. Schwab sold 66,288 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $37.74, for a total value of $2,501,709.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Bernard J. Clark sold 29,976 shares of the firm’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $60.01, for a total value of $1,798,859.76. The disclosure for this sale can be found here. Insiders sold 1,341,961 shares of company stock worth $64,670,343 in the last 90 days. 10.80% of the stock is owned by company insiders.
About The Charles Schwab
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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