Zacks: Brokerages Anticipate Charles Schwab Co. (NYSE:SCHW) to Post $0.67 Earnings Per Share

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Analysts expect that Charles Schwab Co. (NYSE:SCHW) will announce $0.67 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have provided estimates for Charles Schwab’s earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.66. Charles Schwab posted earnings per share of $0.65 in the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The company is scheduled to issue its next quarterly earnings report on Monday, October 21st.

According to Zacks, analysts expect that Charles Schwab will report full-year earnings of $2.68 per share for the current year, with EPS estimates ranging from $2.60 to $2.74. For the next financial year, analysts expect that the business will post earnings of $2.70 per share, with EPS estimates ranging from $2.40 to $2.99. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Charles Schwab.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year.

Several analysts recently weighed in on SCHW shares. Argus restated a “buy” rating and set a $52.00 target price (down previously from $57.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. ValuEngine upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Compass Point set a $45.00 target price on Charles Schwab and gave the company a “hold” rating in a research note on Tuesday, July 2nd. Wells Fargo & Co upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Monday, July 22nd. Finally, Morgan Stanley decreased their target price on Charles Schwab from $53.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. Charles Schwab currently has an average rating of “Buy” and an average price target of $47.53.

NYSE:SCHW traded down $0.14 during mid-day trading on Friday, hitting $42.78. 6,208,154 shares of the company’s stock traded hands, compared to its average volume of 7,784,646. The firm has a 50 day moving average of $39.08 and a two-hundred day moving average of $42.23. Charles Schwab has a 12 month low of $35.85 and a 12 month high of $52.47. The firm has a market capitalization of $56.35 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.84 and a beta of 1.29. 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 also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.17 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.59%. Charles Schwab’s dividend payout ratio is currently 27.76%.

In other news, Chairman Charles R. Schwab sold 105,422 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $42.03, for a total value of $4,430,886.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Goldfarb bought 2,595 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $38.68 per share, with a total value of $100,374.60. Following the completion of the acquisition, the director now owns 3,771 shares in the company, valued at approximately $145,862.28. The disclosure for this purchase can be found here. Insiders sold a total of 219,677 shares of company stock valued at $8,997,842 in the last quarter. Corporate insiders own 10.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC boosted its position in Charles Schwab by 133.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock valued at $28,000 after buying an additional 400 shares during the last quarter. Berman Capital Advisors LLC boosted its position in Charles Schwab by 260.7% in the 1st quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $44,000 after buying an additional 756 shares during the last quarter. Glassman Wealth Services boosted its position in Charles Schwab by 51.0% in the 2nd quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock valued at $44,000 after buying an additional 371 shares during the last quarter. First PREMIER Bank bought a new position in Charles Schwab in the 2nd quarter valued at $49,000. Finally, Mirova bought a new position in Charles Schwab in the 2nd quarter valued at $53,000. 79.03% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Charles Schwab (NYSE:SCHW)

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