Charles Schwab Corp (NYSE:SCHW) – Stock analysts at Jefferies Group increased their Q1 2018 earnings estimates for Charles Schwab in a research report issued on Monday, according to Zacks Investment Research. Jefferies Group analyst D. Fannon now forecasts that the financial services provider will post earnings per share of $0.52 for the quarter, up from their previous forecast of $0.43. Jefferies Group also issued estimates for Charles Schwab’s FY2018 earnings at $2.35 EPS and FY2019 earnings at $2.60 EPS.
SCHW has been the topic of several other research reports. Credit Suisse Group began coverage on Charles Schwab in a research note on Thursday, November 30th. They issued an “outperform” rating and a $55.00 price target on the stock. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $55.00 price target (up previously from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research note on Friday, January 5th. Barclays boosted their price target on Charles Schwab from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. Finally, SunTrust Banks boosted their price target on Charles Schwab to $56.00 and gave the company an “average” rating in a research note on Friday, December 15th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Charles Schwab has a consensus rating of “Buy” and a consensus price target of $51.81.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the firm earned $0.35 EPS. Charles Schwab’s revenue for the quarter was up 13.1% compared to the same quarter last year.
Hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its holdings in Charles Schwab by 86.3% in 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 holdings in Charles Schwab by 1,766.9% in 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 holdings in Charles Schwab by 11.3% in 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 holdings in Charles Schwab by 3.2% in 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 holdings in Charles Schwab by 90.2% in 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. Institutional investors own 79.59% of the company’s stock.
In other news, Chairman Charles R. Schwab sold 225,000 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $44.89, for a total transaction of $10,100,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter B. Crawford sold 1,063 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $44.64, for a total value of $47,452.32. Following the sale, the chief financial officer now owns 11,302 shares of the company’s stock, valued at approximately $504,521.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,658,531 shares of company stock valued at $77,397,901. Corporate insiders own 12.00% of the company’s stock.
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About Charles Schwab
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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