Charles Schwab Co. (NYSE:SCHW) – Research analysts at William Blair lowered their Q1 2020 earnings per share estimates for Charles Schwab in a note issued to investors on Monday, April 15th. William Blair analyst C. Shutler now forecasts that the financial services provider will post earnings per share of $0.73 for the quarter, down from their prior estimate of $0.75. William Blair also issued estimates for Charles Schwab’s Q2 2020 earnings at $0.73 EPS and Q4 2020 earnings at $0.82 EPS.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.67 billion. Charles Schwab had a return on equity of 20.11% and a net margin of 34.61%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS.
A number of other brokerages also recently issued reports on SCHW. Zacks Investment Research downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Morgan Stanley dropped their price objective on Charles Schwab from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, January 4th. Deutsche Bank dropped their price objective on Charles Schwab from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Wells Fargo & Co dropped their price objective on Charles Schwab from $53.00 to $44.00 and set a “market perform” rating on the stock in a research note on Friday, January 4th. Finally, Bank of America set a $50.00 price objective on Charles Schwab and gave the company a “buy” rating in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $53.22.
Shares of NYSE:SCHW opened at $45.03 on Tuesday. The stock has a market capitalization of $60.51 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.08. Charles Schwab has a 1 year low of $37.83 and a 1 year high of $60.22.
A number of hedge funds have recently bought and sold shares of SCHW. Steinberg Global Asset Management bought a new stake in Charles Schwab during the 1st quarter worth approximately $202,000. Palisade Asset Management LLC increased its holdings in Charles Schwab by 233.4% during the 1st quarter. Palisade Asset Management LLC now owns 23,569 shares of the financial services provider’s stock worth $1,008,000 after purchasing an additional 16,500 shares in the last quarter. Horan Capital Management increased its holdings in Charles Schwab by 0.3% during the 1st quarter. Horan Capital Management now owns 298,776 shares of the financial services provider’s stock worth $12,775,000 after purchasing an additional 1,035 shares in the last quarter. Raymond James Trust N.A. increased its holdings in Charles Schwab by 28.1% during the 1st quarter. Raymond James Trust N.A. now owns 11,872 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 2,603 shares in the last quarter. Finally, Sciencast Management LP bought a new stake in Charles Schwab during the 1st quarter worth approximately $1,267,000. 80.07% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Terri R. Kallsen sold 41,285 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $46.75, for a total transaction of $1,930,073.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $46.52, for a total value of $173,984.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 356,417 shares of company stock worth $16,663,522. 10.90% of the stock is owned by company insiders.
Charles Schwab announced that its Board of Directors has approved a share repurchase program on Wednesday, January 30th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 6.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
About Charles Schwab
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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