Jefferies Group Comments on Charles Schwab Corp’s FY2017 Earnings (SCHW)

Charles Schwab Corp (NYSE:SCHW) – Stock analysts at Jefferies Group reduced their FY2017 earnings per share estimates for Charles Schwab in a report issued on Monday. Jefferies Group analyst D. Fannon now expects that the financial services provider will post earnings of $1.60 per share for the year, down from their prior estimate of $1.62. Jefferies Group has a “Buy” rating and a $49.00 price objective on the stock. Jefferies Group also issued estimates for Charles Schwab’s Q4 2017 earnings at $0.40 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.62 EPS and Q4 2018 earnings at $0.64 EPS.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm earned $0.35 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis.

SCHW has been the subject of a number of other reports. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 target price for the company in a research note on Friday, January 5th. Wells Fargo & Co reissued a “market perform” rating and issued a $55.00 target price (up from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. SunTrust Banks reissued a “buy” rating and issued a $63.00 target price (up from $56.00) on shares of Charles Schwab in a research note on Tuesday, December 26th. Morgan Stanley boosted their target price on Charles Schwab from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, October 5th. Finally, Barclays boosted their target price on Charles Schwab from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $51.25.

Charles Schwab (NYSE:SCHW) opened at $53.56 on Tuesday. Charles Schwab has a 52 week low of $37.16 and a 52 week high of $54.47. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $71,720.00, a PE ratio of 34.33, a price-to-earnings-growth ratio of 1.30 and a beta of 1.75.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its holdings in Charles Schwab by 317.6% during the second quarter. Cubist Systematic Strategies LLC now owns 51,701 shares of the financial services provider’s stock worth $2,221,000 after acquiring an additional 39,321 shares in the last quarter. CIBC World Markets Inc. bought a new stake in Charles Schwab during the second quarter worth about $282,000. CAPROCK Group Inc. raised its holdings in Charles Schwab by 22.3% during the third quarter. CAPROCK Group Inc. now owns 6,532 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 1,190 shares in the last quarter. Captrust Financial Advisors bought a new stake in Charles Schwab during the second quarter worth about $273,000. Finally, Chemical Bank raised its stake in Charles Schwab by 10.6% in the second quarter. Chemical Bank now owns 34,116 shares of the financial services provider’s stock valued at $1,466,000 after buying an additional 3,272 shares during the period. Institutional investors and hedge funds own 79.54% of the company’s stock.

In other news, EVP Bernard J. Clark sold 50,444 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $50.52, for a total value of $2,548,430.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Terri R. Kallsen sold 2,026 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $51.30, for a total value of $103,933.80. Following the completion of the sale, the executive vice president now owns 1,706 shares in the company, valued at $87,517.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,658,531 shares of company stock worth $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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