Charles Schwab Co. (NYSE:SCHW) Expected to Post Quarterly Sales of $2.60 Billion

Wall Street analysts expect that Charles Schwab Co. (NYSE:SCHW) will announce sales of $2.60 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Charles Schwab’s earnings, with estimates ranging from $2.56 billion to $2.65 billion. Charles Schwab posted sales of $2.67 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, January 15th.

According to Zacks, analysts expect that Charles Schwab will report full year sales of $10.72 billion for the current financial year, with estimates ranging from $10.68 billion to $10.80 billion. For the next fiscal year, analysts expect that the firm will post sales of $10.63 billion, with estimates ranging from $10.36 billion to $10.98 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Charles Schwab.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Charles Schwab had a return on equity of 20.85% and a net margin of 35.12%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the firm earned $0.65 EPS. Charles Schwab’s quarterly revenue was up 5.1% on a year-over-year basis.

Several brokerages have recently commented on SCHW. Deutsche Bank lifted their target price on Charles Schwab from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on Charles Schwab from $48.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Wolfe Research upgraded Charles Schwab from a “peer perform” rating to an “outperform” rating and lifted their target price for the stock from $42.00 to $46.00 in a research report on Tuesday, September 3rd. Citigroup raised their price target on Charles Schwab from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Charles Schwab in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $44.38.

NYSE SCHW traded up $0.04 during mid-day trading on Thursday, reaching $43.54. 4,190,290 shares of the company’s stock traded hands, compared to its average volume of 8,094,271. Charles Schwab has a 1-year low of $34.58 and a 1-year high of $48.52. The company has a fifty day simple moving average of $40.03 and a 200-day simple moving average of $41.16. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. The company has a market cap of $56.76 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 2.73 and a beta of 1.32.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 7th. Charles Schwab’s payout ratio is currently 27.76%.

In other news, Chairman Charles R. Schwab sold 105,422 shares of Charles Schwab stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $42.03, for a total transaction of $4,430,886.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen T. Mclin sold 5,093 shares of Charles Schwab stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $37.56, for a total value of $191,293.08. Following the transaction, the director now owns 7,297 shares in the company, valued at $274,075.32. The disclosure for this sale can be found here. Insiders have sold a total of 219,677 shares of company stock worth $8,993,241 in the last ninety days. 10.90% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Moors & Cabot Inc. increased its position in shares of Charles Schwab by 1.6% during the 3rd quarter. Moors & Cabot Inc. now owns 16,103 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 249 shares during the period. Blume Capital Management Inc. grew its holdings in shares of Charles Schwab by 21.7% in the 2nd quarter. Blume Capital Management Inc. now owns 1,400 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 250 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Charles Schwab by 1.5% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 16,680 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 250 shares during the last quarter. Davis R M Inc. grew its holdings in shares of Charles Schwab by 4.2% in the 3rd quarter. Davis R M Inc. now owns 6,309 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 255 shares during the last quarter. Finally, Coe Capital Management LLC grew its holdings in shares of Charles Schwab by 0.8% in the 3rd quarter. Coe Capital Management LLC now owns 33,298 shares of the financial services provider’s stock worth $1,393,000 after acquiring an additional 258 shares during the last quarter. Institutional investors own 79.10% of the company’s stock.

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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