Brokerages predict that Charles Schwab Co. (NYSE:SCHW) will post $2.51 billion in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Charles Schwab’s earnings, with the lowest sales estimate coming in at $2.46 billion and the highest estimate coming in at $2.56 billion. Charles Schwab posted sales of $2.13 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 17.8%. The firm is expected to report its next earnings results on Tuesday, July 17th.
According to Zacks, analysts expect that Charles Schwab will report full year sales of $10.18 billion for the current financial year, with estimates ranging from $10.12 billion to $10.37 billion. For the next year, analysts anticipate that the company will report sales of $11.47 billion per share, with estimates ranging from $11.22 billion to $11.65 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Charles Schwab.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Monday, April 16th. The financial services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.38 billion. Charles Schwab had a net margin of 28.80% and a return on equity of 16.84%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS.
SCHW has been the topic of a number of research reports. ValuEngine upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Credit Suisse Group dropped their target price on shares of Charles Schwab from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Monday, April 23rd. Jefferies Group reiterated a “buy” rating and issued a $65.00 target price on shares of Charles Schwab in a report on Friday, April 20th. Zacks Investment Research downgraded shares of Charles Schwab from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Morgan Stanley dropped their target price on shares of Charles Schwab from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, April 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $55.53.
In other news, insider Walter W. Bettinger sold 113,832 shares of the business’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $59.72, for a total transaction of $6,798,047.04. Following the sale, the insider now owns 355,835 shares in the company, valued at $21,250,466.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Terri R. Kallsen sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $52.94, for a total transaction of $264,700.00. The disclosure for this sale can be found here. Insiders have sold 2,283,053 shares of company stock worth $129,331,230 in the last 90 days. 11.50% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in SCHW. BlackRock Inc. grew its position in Charles Schwab by 7.2% during the first quarter. BlackRock Inc. now owns 85,589,939 shares of the financial services provider’s stock valued at $4,469,506,000 after purchasing an additional 5,731,627 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Charles Schwab during the fourth quarter valued at approximately $161,834,000. Amundi Pioneer Asset Management Inc. grew its position in Charles Schwab by 40.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 6,879,265 shares of the financial services provider’s stock valued at $353,386,000 after purchasing an additional 1,991,425 shares in the last quarter. WCM Investment Management CA grew its position in Charles Schwab by 124.8% during the fourth quarter. WCM Investment Management CA now owns 2,207,060 shares of the financial services provider’s stock valued at $113,378,000 after purchasing an additional 1,225,146 shares in the last quarter. Finally, Boston Partners grew its position in Charles Schwab by 179.0% during the first quarter. Boston Partners now owns 1,669,728 shares of the financial services provider’s stock valued at $87,194,000 after purchasing an additional 1,071,184 shares in the last quarter. Institutional investors and hedge funds own 80.16% of the company’s stock.
Shares of NYSE:SCHW opened at $57.30 on Friday. The company has a market capitalization of $78.44 billion, a PE ratio of 34.94, a P/E/G ratio of 1.43 and a beta of 1.56. Charles Schwab has a twelve month low of $37.63 and a twelve month high of $60.22. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.25.
The company also recently declared a quarterly dividend, which was paid on Friday, May 25th. Stockholders of record on Friday, May 11th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, May 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.70%. Charles Schwab’s dividend payout ratio is currently 24.39%.
About 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.
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.