Charles Schwab Corp. (NASDAQ:SCHW)‘s stock had its “buy” rating restated by research analysts at ISI Group in a report released on Wednesday, AnalystRatingsNetwork.com reports. They currently have a $25.00 target price on the stock, down from their previous target price of $26.00. ISI Group’s price objective would indicate a potential upside of 19.33% from the company’s current price.
The analysts wrote, “The miss to our estimate and Consensus was on higher expenses than forecast, at $925mn vs. our $909mn estimate, while revenue was slightly better than expected at $1.337bn vs. our $1.326bn estimate. Overall, the revenue growth story remains intact, even with just modest NIM expansion from yield curve steepening, and mgmt retained its outlook for mid-$0.70s EPS in 2013. The 3% selloff is understood given strong recent performance (up 47% YTD), higher than expected op costs and statement on short-term rates being a much more important earnings driver, though we do not think major NIM expansion on yield curve steepening is factored into expectations.”
SCHW has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. reiterated a “hold” rating on shares of Charles Schwab Corp. in a research note to investors on Wednesday. They now have a $18.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Charles Schwab Corp. from $17.00 to $21.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Finally, analysts at BMO Capital Markets reiterated a “buy” rating on shares of Charles Schwab Corp. in a research note to investors on Tuesday, July 9th. They now have a $22.00 price target on the stock.
Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.03.
Shares of Charles Schwab Corp. (NASDAQ: SCHW) traded up 2.00% during mid-day trading on Wednesday, hitting $21.37. Charles Schwab Corp. has a 52 week low of $11.95 and a 52 week high of $22.44. The stock’s 50-day moving average is currently $20.67. The company has a market cap of $27.353 billion and a P/E ratio of 30.36.
Charles Schwab Corp. (NASDAQ:SCHW) last announced its earnings results on Tuesday, July 16th. The company reported $0.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.19 by $0.01. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts expect that Charles Schwab Corp. will post $0.73 EPS for the current fiscal year.
The Charles Schwab Corporation (NASDAQ: SCHW) is a savings and loan holding company.
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