Zacks: Brokerages Expect The Charles Schwab Corporation (SCHW) Will Announce Quarterly Sales of $2.19 Billion

Equities research analysts expect The Charles Schwab Corporation (NYSE:SCHW) to announce $2.19 billion in sales 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 $2.17 billion and the highest is $2.21 billion. The Charles Schwab Corporation reported sales of $1.91 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 14.7%. The firm is scheduled to issue its next quarterly earnings results on Monday, October 16th.

On average, analysts expect that The Charles Schwab Corporation will report full-year sales of $2.19 billion for the current financial year, with estimates ranging from $8.59 billion to $8.70 billion. For the next year, analysts expect that the firm will post sales of $9.73 billion per share, with estimates ranging from $9.37 billion to $9.96 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for The Charles Schwab Corporation.

The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm posted $0.30 EPS. The company’s revenue was up 16.5% compared to the same quarter last year.

A number of research firms recently commented on SCHW. Morgan Stanley reiterated an “overweight” rating and issued a $51.00 target price (up from $48.00) on shares of The Charles Schwab Corporation in a research report on Tuesday, July 25th. Nomura downgraded The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 24th. BidaskClub downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Deutsche Bank AG decreased their target price on The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 target price on shares of The Charles Schwab Corporation in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $45.47.

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Shares of The Charles Schwab Corporation (SCHW) traded up 1.09% during trading on Friday, hitting $42.54. The company had a trading volume of 7,360,466 shares. The stock has a market capitalization of $56.97 billion, a P/E ratio of 28.55 and a beta of 1.64. The Charles Schwab Corporation has a 52 week low of $29.86 and a 52 week high of $44.10. The firm’s 50 day moving average is $40.42 and its 200-day moving average is $40.76.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.75%. The Charles Schwab Corporation’s dividend payout ratio is presently 21.48%.

In related news, EVP Terri R. Kallsen sold 10,536 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $43.15, for a total value of $454,628.40. Following the completion of the transaction, the executive vice president now owns 5,212 shares in the company, valued at approximately $224,897.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Terri R. Kallsen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total value of $38,990.00. Following the completion of the transaction, 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. In the last quarter, insiders have sold 925,122 shares of company stock valued at $39,733,977. Company insiders own 12.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WealthTrust Arizona LLC raised its stake in shares of The Charles Schwab Corporation by 1.2% during the 2nd quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after buying an additional 29 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in shares of The Charles Schwab Corporation by 9.6% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock valued at $131,000 after buying an additional 287 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of The Charles Schwab Corporation during the 2nd quarter valued at about $145,000. Fiduciary Trust Co. purchased a new position in shares of The Charles Schwab Corporation during the 2nd quarter valued at about $163,000. Finally, Founders Capital Management purchased a new position in shares of The Charles Schwab Corporation during the 1st quarter valued at about $159,000. Institutional investors and hedge funds own 79.53% of the company’s stock.

The Charles Schwab Corporation 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.

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