Charles Schwab Co. Common Stock (SCHW) Expected to Post Quarterly Sales of $2.55 Billion

Wall Street brokerages forecast that Charles Schwab Co. Common Stock (NYSE:SCHW) will post $2.55 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Charles Schwab Co. Common Stock’s earnings, with estimates ranging from $2.53 billion to $2.57 billion. Charles Schwab Co. Common Stock reported sales of $2.17 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 17.5%. The company is expected to issue its next earnings report on Monday, October 15th.

On average, analysts expect that Charles Schwab Co. Common Stock will report full-year sales of $10.09 billion for the current financial year, with estimates ranging from $10.04 billion to $10.19 billion. For the next year, analysts expect that the firm will report sales of $11.31 billion per share, with estimates ranging from $11.08 billion to $11.67 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Charles Schwab Co. Common Stock.

Charles Schwab Co. Common Stock (NYSE:SCHW) last released its earnings results on Tuesday, July 17th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Charles Schwab Co. Common Stock had a net margin of 30.83% and a return on equity of 17.96%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company earned $0.39 EPS. Charles Schwab Co. Common Stock’s quarterly revenue was up 16.7% compared to the same quarter last year.

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Charles Schwab Co. Common Stock from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 25th. Citigroup dropped their target price on shares of Charles Schwab Co. Common Stock from $49.00 to $48.00 and set a “sell” rating on the stock in a research report on Monday, July 23rd. Wells Fargo & Co boosted their target price on shares of Charles Schwab Co. Common Stock from $54.00 to $56.00 and gave the company a “$54.22” rating in a research report on Wednesday, July 18th. Jefferies Financial Group restated a “buy” rating and set a $66.00 price objective on shares of Charles Schwab Co. Common Stock in a report on Monday, July 16th. Finally, JPMorgan Chase & Co. set a $59.00 price objective on shares of Charles Schwab Co. Common Stock and gave the stock a “buy” rating in a report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $57.80.

Shares of Charles Schwab Co. Common Stock stock traded up $0.82 during trading on Wednesday, reaching $51.37. 5,548,900 shares of the company traded hands, compared to its average volume of 6,572,036. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. Charles Schwab Co. Common Stock has a 1-year low of $38.06 and a 1-year high of $60.22. The company has a market capitalization of $68.30 billion, a PE ratio of 31.10, a PEG ratio of 1.27 and a beta of 1.56.

The company also recently announced a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Friday, August 10th were issued a $0.13 dividend. The ex-dividend date was Thursday, August 9th. This represents a $0.52 annualized dividend and a dividend yield of 1.01%. This is an increase from Charles Schwab Co. Common Stock’s previous quarterly dividend of $0.10. Charles Schwab Co. Common Stock’s dividend payout ratio is currently 31.71%.

In related news, Director Mark A. Goldfarb sold 2,174 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $56.67, for a total transaction of $123,200.58. Following the completion of the transaction, the director now owns 5,045 shares in the company, valued at $285,900.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Marie A. Chandoha sold 10,000 shares of the stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 221,021 shares of company stock valued at $11,683,197. 11.50% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IFG Advisory LLC grew its position in Charles Schwab Co. Common Stock by 11.3% during the second quarter. IFG Advisory LLC now owns 10,087 shares of the financial services provider’s stock valued at $515,000 after buying an additional 1,026 shares during the period. Gibraltar Capital Management Inc. boosted its position in Charles Schwab Co. Common Stock by 0.9% during the second quarter. Gibraltar Capital Management Inc. now owns 113,017 shares of the financial services provider’s stock worth $5,775,000 after purchasing an additional 1,057 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management boosted its position in Charles Schwab Co. Common Stock by 11.0% during the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 10,806 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 1,068 shares during the period. Parallel Advisors LLC boosted its position in Charles Schwab Co. Common Stock by 13.4% during the first quarter. Parallel Advisors LLC now owns 9,186 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 1,083 shares during the period. Finally, Evermay Wealth Management LLC boosted its position in Charles Schwab Co. Common Stock by 19.9% during the first quarter. Evermay Wealth Management LLC now owns 6,630 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 1,100 shares during the period. Institutional investors own 80.28% of the company’s stock.

About Charles Schwab Co. Common Stock

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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