Zacks: Brokerages Expect The Charles Schwab Corporation (SCHW) Will Post Quarterly Sales of $2.21 Billion

Analysts expect The Charles Schwab Corporation (NYSE:SCHW) to report sales of $2.21 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for The Charles Schwab Corporation’s earnings. The lowest sales estimate is $2.18 billion and the highest is $2.27 billion. The Charles Schwab Corporation reported sales of $1.97 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 12.2%. The business is expected to announce its next earnings results on Wednesday, January 17th.

According to Zacks, analysts expect that The Charles Schwab Corporation will report full year sales of $2.21 billion for the current year, with estimates ranging from $8.55 billion to $8.64 billion. For the next fiscal year, analysts forecast that the firm will post sales of $9.75 billion per share, with estimates ranging from $9.29 billion to $10.25 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow The Charles Schwab Corporation.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. The Charles Schwab Corporation had a net margin of 27.30% and a return on equity of 15.77%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share.

A number of equities research analysts have recently commented on SCHW shares. Morgan Stanley reiterated an “overweight” rating and set a $51.00 price target (up from $48.00) on shares of The Charles Schwab Corporation in a report on Tuesday, July 25th. Barclays PLC initiated coverage on shares of The Charles Schwab Corporation in a report on Friday, September 8th. They set an “overweight” rating and a $48.00 price target for the company. Nomura downgraded shares of The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $47.00 target price on shares of The Charles Schwab Corporation in a report on Friday, September 15th. Finally, BidaskClub downgraded shares of The Charles Schwab Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 8th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $47.07.

In related news, insider Walter W. Bettinger purchased 72,510 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were purchased at an average cost of $27.21 per share, with a total value of $1,972,997.10. Following the completion of the acquisition, the insider now directly owns 41,330 shares of the company’s stock, valued at approximately $1,124,589.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Terri R. Kallsen sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $38.99, for a total transaction of $38,990.00. Following the sale, the executive vice president now owns 5,212 shares of the company’s stock, valued at approximately $203,215.88. The disclosure for this sale can be found here. Insiders sold 923,095 shares of company stock worth $41,179,740 over the last ninety days. 12.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in SCHW. Capital Research Global Investors increased its stake in The Charles Schwab Corporation by 86.3% during the second quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock valued at $1,041,230,000 after purchasing an additional 11,224,199 shares during the last quarter. Janus Henderson Group PLC increased its stake in The Charles Schwab Corporation by 1,766.9% during the second quarter. Janus Henderson Group PLC now owns 9,357,736 shares of the financial services provider’s stock valued at $402,011,000 after purchasing an additional 8,856,483 shares during the last quarter. FMR LLC increased its stake in The Charles Schwab Corporation by 11.3% during the second quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock valued at $1,321,708,000 after purchasing an additional 3,128,532 shares during the last quarter. Vanguard Group Inc. increased its stake in The Charles Schwab Corporation by 3.2% during the second quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock valued at $3,519,523,000 after purchasing an additional 2,536,947 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in The Charles Schwab Corporation by 90.2% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 4,887,840 shares of the financial services provider’s stock valued at $213,794,000 after purchasing an additional 2,318,498 shares during the last quarter. Hedge funds and other institutional investors own 79.93% of the company’s stock.

Shares of The Charles Schwab Corporation (NYSE SCHW) traded up $0.04 during midday trading on Monday, hitting $44.68. 4,272,400 shares of the stock were exchanged, compared to its average volume of 7,058,793. The stock has a market capitalization of $60,050.00, a P/E ratio of 28.64, a PEG ratio of 1.90 and a beta of 1.74. The Charles Schwab Corporation has a 1-year low of $37.00 and a 1-year high of $46.21. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a $0.08 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.32 annualized dividend and a yield of 0.72%. The Charles Schwab Corporation’s dividend payout ratio is presently 20.51%.

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About The Charles Schwab Corporation

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.

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