Charles Schwab (NYSE:SCHW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday, January 5th. The brokerage presently has a $60.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 8.32% from the company’s current price.
According to Zacks, “Schwab’s shares have outperformed the industry in the past six months. The performance was supported by impressive earnings surprise history, as the company did not lag the Zacks Consensus Estimate in any of the trailing four quarters. The company remains well positioned to gain from the rising rate environment. Also, initiatives to strengthen trading income are likely to support its profitability in the long run despite the near-term reduction in the same. While continuous rise in expenses (due to rise in compensation costs) remains a key concern for the company, the benefits from tax act will aid financials.”
Other analysts also recently issued research reports about the stock. JMP Securities downgraded shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 3rd. BidaskClub raised shares of Charles Schwab from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $47.00 price target on shares of Charles Schwab in a research note on Friday, September 15th. Jefferies Group reissued a “buy” rating and issued a $49.00 price objective on shares of Charles Schwab in a research note on Friday, September 15th. Finally, Barclays initiated coverage on shares of Charles Schwab in a research note on Friday, September 8th. They issued an “overweight” rating and a $48.00 price objective for the company. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $51.25.
Charles Schwab (NYSE SCHW) traded up $1.22 on Friday, reaching $55.39. The company had a trading volume of 7,515,778 shares, compared to its average volume of 5,081,325. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $72,619.00, a price-to-earnings ratio of 35.51, a P/E/G ratio of 1.43 and a beta of 1.75. Charles Schwab has a 12 month low of $37.16 and a 12 month high of $55.52.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. analysts predict that Charles Schwab will post 1.61 earnings per share for the current year.
In related news, EVP Terri R. Kallsen sold 815 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $43.97, for a total transaction of $35,835.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles R. Schwab sold 350,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $44.65, for a total transaction of $15,627,500.00. The disclosure for this sale can be found here. Insiders have sold 1,658,531 shares of company stock worth $77,397,901 over the last three months. Corporate insiders own 12.00% of the company’s stock.
Several institutional investors have recently modified their holdings of SCHW. Vanguard Group Inc. raised its position in shares of Charles Schwab by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock worth $3,519,523,000 after purchasing an additional 2,536,947 shares during the last quarter. BlackRock Inc. raised its position in shares of Charles Schwab by 2.5% during the 2nd quarter. BlackRock Inc. now owns 73,666,134 shares of the financial services provider’s stock worth $3,164,699,000 after purchasing an additional 1,790,015 shares during the last quarter. FMR LLC raised its position in shares of Charles Schwab by 11.3% during the 2nd quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock worth $1,321,708,000 after purchasing an additional 3,128,532 shares during the last quarter. Capital Research Global Investors raised its position in shares of Charles Schwab by 86.3% during the 2nd quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock worth $1,041,230,000 after purchasing an additional 11,224,199 shares during the last quarter. Finally, Edgewood Management LLC raised its position in shares of Charles Schwab by 8.4% during the 3rd quarter. Edgewood Management LLC now owns 20,125,345 shares of the financial services provider’s stock worth $880,283,000 after purchasing an additional 1,559,733 shares during the last quarter. Institutional investors and hedge funds own 79.54% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2018/01/13/charles-schwab-schw-upgraded-to-strong-buy-by-zacks-investment-research.html.
About Charles Schwab
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
Get a free copy of the Zacks research report on Charles Schwab (SCHW)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.