Charles Schwab Co. (NYSE:SCHW) – Stock analysts at Jefferies Financial Group decreased their FY2020 earnings estimates for Charles Schwab in a research report issued to clients and investors on Wednesday, October 9th. Jefferies Financial Group analyst D. Fannon now forecasts that the financial services provider will post earnings of $2.42 per share for the year, down from their previous estimate of $2.77.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis.
Several other research firms have also recently weighed in on SCHW. Barclays cut shares of Charles Schwab from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $48.00 to $34.00 in a report on Wednesday, October 2nd. Bank of America cut shares of Charles Schwab from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $49.00 to $43.00 in a report on Friday, July 12th. Credit Suisse Group decreased their price objective on shares of Charles Schwab from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Compass Point set a $45.00 price objective on shares of Charles Schwab and gave the company a “hold” rating in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Charles Schwab from $48.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.16.
SCHW opened at $39.74 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average price of $39.49 and a 200-day moving average price of $41.55. Charles Schwab has a twelve month low of $34.58 and a twelve month high of $49.24. The stock has a market capitalization of $50.71 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.51 and a beta of 1.32.
In related news, Director Stephen T. Mclin sold 5,093 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $37.56, for a total transaction of $191,293.08. Following the completion of the sale, the director now directly owns 7,297 shares in the company, valued at $274,075.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Goldfarb purchased 2,595 shares of the company’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $38.68 per share, with a total value of $100,374.60. Following the completion of the transaction, the director now owns 3,771 shares of the company’s stock, valued at $145,862.28. The disclosure for this purchase can be found here. Insiders have sold 219,677 shares of company stock valued at $8,993,241 over the last 90 days. 10.90% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC boosted its position in shares of Charles Schwab by 133.3% in the second quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 400 shares during the period. Gradient Investments LLC boosted its position in shares of Charles Schwab by 526.2% in the third quarter. Gradient Investments LLC now owns 814 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 684 shares during the period. Glassman Wealth Services boosted its position in shares of Charles Schwab by 51.0% in the second quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 371 shares during the period. First PREMIER Bank bought a new position in shares of Charles Schwab in the second quarter worth approximately $49,000. Finally, Mirova bought a new position in shares of Charles Schwab in the second quarter worth approximately $53,000. Institutional investors and hedge funds own 79.07% of the company’s stock.
Charles Schwab Company Profile
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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