$2.63 Billion in Sales Expected for Charles Schwab Co. (NYSE:SCHW) This Quarter

Equities research analysts expect that Charles Schwab Co. (NYSE:SCHW) will post $2.63 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Charles Schwab’s earnings, with the highest sales estimate coming in at $2.68 billion and the lowest estimate coming in at $2.57 billion. Charles Schwab posted sales of $2.72 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.3%. The company is expected to announce its next earnings results on Monday, April 20th.

According to Zacks, analysts expect that Charles Schwab will report full year sales of $10.76 billion for the current financial year, with estimates ranging from $10.34 billion to $11.14 billion. For the next year, analysts expect that the business will report sales of $11.45 billion, with estimates ranging from $10.73 billion to $12.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Charles Schwab.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. Charles Schwab had a net margin of 34.55% and a return on equity of 20.22%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company earned $0.65 earnings per share. The business’s revenue was down 3.4% compared to the same quarter last year.

A number of equities research analysts have weighed in on SCHW shares. Keefe, Bruyette & Woods upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $56.00 price target on the stock in a research note on Thursday, December 12th. Deutsche Bank boosted their target price on shares of Charles Schwab from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. UBS Group upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and boosted their target price for the company from $35.00 to $50.00 in a research note on Monday, December 2nd. Citigroup boosted their target price on shares of Charles Schwab from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Bank of America restated a “neutral” rating and issued a target price (up previously from ) on shares of Charles Schwab in a research note on Monday, January 13th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $49.73.

SCHW traded down $0.66 during trading on Tuesday, reaching $48.34. 10,257,057 shares of the company’s stock were exchanged, compared to its average volume of 7,079,946. Charles Schwab has a fifty-two week low of $34.58 and a fifty-two week high of $51.65. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $48.54 and a 200 day moving average price of $42.74. The company has a market capitalization of $62.83 billion, a P/E ratio of 17.77, a PEG ratio of 3.11 and a beta of 1.39.

In related news, Chairman Charles R. Schwab sold 300,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $49.01, for a total transaction of $14,703,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arun Sarin sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $49.11, for a total transaction of $736,650.00. Following the transaction, the director now owns 3,771 shares in the company, valued at approximately $185,193.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 349,364 shares of company stock worth $17,174,848. 10.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC raised its holdings in Charles Schwab by 12,401.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,862,927 shares of the financial services provider’s stock worth $275,821,000 after purchasing an additional 6,808,032 shares during the last quarter. Generation Investment Management LLP increased its stake in shares of Charles Schwab by 29.6% in the 3rd quarter. Generation Investment Management LLP now owns 27,092,510 shares of the financial services provider’s stock valued at $1,133,280,000 after acquiring an additional 6,193,052 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of Charles Schwab in the 3rd quarter valued at about $144,183,000. BlackRock Inc. increased its stake in shares of Charles Schwab by 3.7% in the 2nd quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock valued at $3,499,773,000 after acquiring an additional 3,140,824 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Charles Schwab by 287.1% in the 2nd quarter. Boston Partners now owns 3,792,595 shares of the financial services provider’s stock valued at $152,428,000 after acquiring an additional 2,812,729 shares during the last quarter. Institutional investors and hedge funds own 78.78% 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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