Charles Schwab Corp (SCHW) Expected to Post Quarterly Sales of $2.12 Billion

Wall Street brokerages forecast that Charles Schwab Corp (NYSE:SCHW) will announce sales of $2.12 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Charles Schwab Corp’s earnings, with estimates ranging from $2.09 billion to $2.14 billion. Charles Schwab Corp posted sales of $1.83 billion in the same quarter last year, which suggests a positive year over year growth rate of 15.8%. The business is expected to report its next earnings results on Monday, July 17th.

On average, analysts expect that Charles Schwab Corp will report full-year sales of $2.12 billion for the current financial year, with estimates ranging from $8.53 billion to $8.77 billion. For the next financial year, analysts expect that the firm will post sales of $9.55 billion per share, with estimates ranging from $9.26 billion to $9.97 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Charles Schwab Corp.

Charles Schwab Corp (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Charles Schwab Corp had a net margin of 25.26% and a return on equity of 14.65%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 earnings per share.

Several research analysts have weighed in on the stock. SunTrust Banks, Inc. increased their target price on shares of Charles Schwab Corp from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, March 14th. Bank of America Corp reaffirmed a “buy” rating and set a $47.00 target price on shares of Charles Schwab Corp in a research note on Friday, March 3rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $45.00 target price (up previously from $44.00) on shares of Charles Schwab Corp in a research note on Monday, May 15th. Keefe, Bruyette & Woods set a $44.00 target price on shares of Charles Schwab Corp and gave the stock a “buy” rating in a research note on Monday, April 10th. Finally, Nomura reaffirmed a “buy” rating and set a $46.00 target price on shares of Charles Schwab Corp in a research note on Tuesday, April 11th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.75.

Shares of Charles Schwab Corp (NYSE:SCHW) traded up 3.70% during trading on Friday, hitting $41.23. 6,145,809 shares of the stock traded hands. The firm’s 50-day moving average price is $39.40 and its 200-day moving average price is $40.19. The stock has a market cap of $55.13 billion, a PE ratio of 29.24 and a beta of 1.78. Charles Schwab Corp has a 12 month low of $23.83 and a 12 month high of $43.65.

The company also recently declared a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Friday, May 12th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. Charles Schwab Corp’s dividend payout ratio is currently 24.62%.

In other news, Director Mark A. Goldfarb purchased 1,850 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was bought at an average price of $26.97 per share, for a total transaction of $49,894.50. Following the completion of the purchase, the director now directly owns 1,850 shares of the company’s stock, valued at $49,894.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marie A. Chandoha sold 8,903 shares of Charles Schwab Corp stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $43.01, for a total transaction of $382,918.03. The disclosure for this sale can be found here. Insiders sold 373,044 shares of company stock valued at $14,976,059 in the last quarter. 12.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Mission Wealth Management LLC increased its position in shares of Charles Schwab Corp by 10.4% in the fourth quarter. Mission Wealth Management LLC now owns 11,331 shares of the financial services provider’s stock worth $447,000 after buying an additional 1,067 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Charles Schwab Corp during the fourth quarter worth about $37,726,000. D.A. Davidson & CO. increased its position in shares of Charles Schwab Corp by 61.7% in the third quarter. D.A. Davidson & CO. now owns 130,694 shares of the financial services provider’s stock worth $4,122,000 after buying an additional 49,880 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Charles Schwab Corp during the third quarter worth about $29,204,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Charles Schwab Corp by 191.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 16,620,867 shares of the financial services provider’s stock worth $524,721,000 after buying an additional 10,912,905 shares in the last quarter. Institutional investors own 78.34% of the company’s stock.

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Charles Schwab Corp Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SCHW”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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