Charles Schwab Corp. Downgraded by Citigroup Inc. to “Neutral” (SCHW)
Charles Schwab Corp. (NASDAQ:SCHW) was downgraded by equities researchers at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $28.00 price objective on the stock, up from their previous price objective of $27.00. Citigroup Inc.’s target price suggests a potential upside of 9.63% from the stock’s previous close.
Charles Schwab Corp. (NASDAQ:SCHW) traded down 1.05% on Tuesday, hitting $25.54. 7,476,544 shares of the company’s stock traded hands. Charles Schwab Corp. has a 52 week low of $14.98 and a 52 week high of $26.14. The stock’s 50-day moving average is $25.13 and its 200-day moving average is $22.81. The company has a market cap of $32.927 billion and a price-to-earnings ratio of 36.87.
Charles Schwab Corp. (NASDAQ:SCHW) last announced its earnings results on Tuesday, October 15th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.20 by $0.02. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts predict that Charles Schwab Corp. will post $0.76 earnings per share for the current fiscal year.
SCHW has been the subject of a number of other recent research reports. Analysts at Evercore Partners upgraded shares of Charles Schwab Corp. from an “underweight” rating to an “equal weight” rating in a research note to investors on Monday, December 16th. Separately, analysts at Keefe, Bruyette & Woods upgraded shares of Charles Schwab Corp. from an “underperform” rating to a “market perform” rating in a research note to investors on Thursday, December 12th. Finally, analysts at Credit Suisse initiated coverage on shares of Charles Schwab Corp. in a research note to investors on Tuesday, December 10th. They set a “neutral” rating and a $20.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.28.
The Charles Schwab Corporation (NASDAQ:SCHW) is a savings and loan holding company.
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