Charles Schwab (NYSE:SCHW) was upgraded by investment analysts at Wolfe Research from an “underperform” rating to a “market perform” rating in a report released on Tuesday, The Fly reports.
Several other equities research analysts have also commented on SCHW. Zacks Investment Research lowered Charles Schwab from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. Morgan Stanley cut their target price on Charles Schwab from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, January 4th. Citigroup upgraded Charles Schwab from a “sell” rating to a “neutral” rating and set a $44.08 target price on the stock in a research report on Sunday, December 2nd. Wells Fargo & Co cut their target price on Charles Schwab from $53.00 to $44.00 and set a “market perform” rating on the stock in a research report on Friday, January 4th. Finally, Raymond James upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $54.87.
NYSE SCHW opened at $43.83 on Tuesday. Charles Schwab has a 12 month low of $37.83 and a 12 month high of $60.22. The stock has a market capitalization of $57.31 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 0.92 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.29 and a current ratio of 0.29.
Charles Schwab (NYSE:SCHW) last announced its earnings results on Monday, October 15th. The financial services provider reported $0.65 EPS for the quarter, meeting the consensus estimate of $0.65. Charles Schwab had a return on equity of 19.02% and a net margin of 32.65%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. Equities research analysts expect that Charles Schwab will post 2.44 EPS for the current year.
Charles Schwab declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 1.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other Charles Schwab news, insider Marie A. Chandoha sold 8,424 shares of the stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $48.01, for a total value of $404,436.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan M. Craig sold 2,629 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $48.84, for a total value of $128,400.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 411,366 shares of company stock worth $19,333,819. Corporate insiders own 11.50% of the company’s stock.
A number of large investors have recently made changes to their positions in SCHW. LFA Lugano Financial Advisors SA purchased a new stake in shares of Charles Schwab in the third quarter worth approximately $111,000. Sapphire Star Partners LP purchased a new stake in shares of Charles Schwab in the third quarter worth approximately $123,000. Point72 Hong Kong Ltd purchased a new stake in shares of Charles Schwab in the second quarter worth approximately $134,000. Zions Bancorporation purchased a new stake in shares of Charles Schwab in the third quarter worth approximately $136,000. Finally, Lourd Capital LLC purchased a new stake in shares of Charles Schwab in the third quarter worth approximately $201,000. Institutional investors and hedge funds own 79.52% of the company’s stock.
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.
Featured Article: Fundamental Analysis and Individual Investors
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.