Charles Schwab Co. (NYSE:SCHW) – Investment analysts at William Blair boosted their Q2 2019 earnings per share (EPS) estimates for Charles Schwab in a research note issued on Tuesday, April 16th. William Blair analyst C. Shutler now expects that the financial services provider will earn $0.68 per share for the quarter, up from their previous forecast of $0.67. William Blair also issued estimates for Charles Schwab’s Q3 2019 earnings at $0.71 EPS and FY2019 earnings at $2.80 EPS.
SCHW has been the subject of several other research reports. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, January 3rd. Credit Suisse Group lifted their price target on Charles Schwab from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, January 17th. ValuEngine raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. UBS Group downgraded Charles Schwab from a “neutral” rating to a “sell” rating and cut their price target for the stock from $48.00 to $42.00 in a research note on Wednesday, February 20th. Finally, Wells Fargo & Co cut their price target on Charles Schwab from $48.00 to $47.00 and set a “market perform” rating for the company in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Charles Schwab presently has a consensus rating of “Buy” and a consensus target price of $53.22.
NYSE:SCHW opened at $46.10 on Thursday. The firm has a market cap of $60.92 billion, a PE ratio of 18.82, a PEG ratio of 1.46 and a beta of 1.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 0.83. Charles Schwab has a 52-week low of $37.83 and a 52-week high of $60.22.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.67 billion. Charles Schwab had a return on equity of 20.79% and a net margin of 35.27%. The business’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 EPS.
Charles Schwab declared that its board has approved a stock repurchase program on Wednesday, January 30th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 6.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In other news, EVP Terri R. Kallsen sold 41,285 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $46.75, for a total transaction of $1,930,073.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 250,000 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $47.04, for a total value of $11,760,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 360,417 shares of company stock valued at $16,845,882. 10.90% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of SCHW. Norges Bank purchased a new stake in shares of Charles Schwab during the 4th quarter worth about $443,292,000. Harris Associates L P grew its holdings in shares of Charles Schwab by 197.1% during the 4th quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock worth $578,932,000 after purchasing an additional 9,248,471 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Charles Schwab by 1,949.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,137,303 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 5,837,890 shares during the period. APG Asset Management N.V. grew its holdings in shares of Charles Schwab by 1,183.6% during the 4th quarter. APG Asset Management N.V. now owns 3,287,200 shares of the financial services provider’s stock worth $119,422,000 after purchasing an additional 3,031,100 shares during the period. Finally, Parnassus Investments CA lifted its position in Charles Schwab by 22.3% during the 4th quarter. Parnassus Investments CA now owns 15,623,778 shares of the financial services provider’s stock worth $648,856,000 after acquiring an additional 2,850,678 shares in the last quarter. Institutional investors and hedge funds own 80.07% 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.
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