Charles Schwab Corp (NYSE:SCHW) – Equities researchers at SunTrust Banks dropped their FY2017 EPS estimates for shares of Charles Schwab in a note issued to investors on Tuesday, according to Zacks Investment Research. SunTrust Banks analyst D. Mewhirter now expects that the financial services provider will post earnings per share of $1.61 for the year, down from their prior forecast of $1.65. SunTrust Banks currently has a “Buy” rating and a $63.00 target price on the stock. SunTrust Banks also issued estimates for Charles Schwab’s Q4 2017 earnings at $0.41 EPS and FY2018 earnings at $2.35 EPS.
A number of other equities analysts have also issued reports on the stock. Credit Suisse Group reissued a “buy” rating and set a $64.00 price target on shares of Charles Schwab in a research report on Friday. Citigroup reissued a “buy” rating and set a $60.00 price target (up from $52.00) on shares of Charles Schwab in a research report on Tuesday, January 9th. Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research report on Friday, January 5th. Wells Fargo & Co reissued a “market perform” rating and set a $55.00 price target (up from $47.00) on shares of Charles Schwab in a research report on Thursday, January 4th. Finally, JMP Securities lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 3rd. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $51.81.
Charles Schwab (NYSE SCHW) opened at $55.39 on Friday. Charles Schwab has a 1 year low of $37.16 and a 1 year high of $55.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.30 and a current ratio of 0.31. The stock has a market cap of $74,170.00, a P/E ratio of 35.51, a price-to-earnings-growth ratio of 1.43 and a beta of 1.75.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the firm posted $0.35 EPS. Charles Schwab’s revenue was up 13.1% on a year-over-year basis.
In other news, EVP Terri R. Kallsen sold 2,026 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $51.30, for a total transaction of $103,933.80. Following the sale, the executive vice president now owns 1,706 shares of the company’s stock, valued at approximately $87,517.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Terri R. Kallsen sold 815 shares of Charles Schwab stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $43.97, for a total transaction of $35,835.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,658,531 shares of company stock worth $77,397,901 in the last ninety days. Corporate insiders own 12.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SCHW. Bogart Wealth LLC grew its stake in Charles Schwab by 1,100.0% in the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 1,870 shares during the period. Fiduciary Trust Co. acquired a new stake in Charles Schwab in the 2nd quarter valued at $163,000. Zions Bancorporation lifted its holdings in Charles Schwab by 1,545.3% in the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 3,585 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Charles Schwab by 31.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 1,082 shares in the last quarter. Finally, NBT Bank N A NY purchased a new position in Charles Schwab in the 2nd quarter valued at $205,000. 79.54% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: This piece was posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.thelincolnianonline.com/2018/01/14/suntrust-banks-brokers-cut-earnings-estimates-for-charles-schwab-corp-schw-updated-updated.html.
Charles Schwab 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.