Charles Schwab Corp. Price Target Cut to $29.00 (SCHW)
Analysts at BMO Capital Markets lowered their target price on shares of Charles Schwab Corp. (NASDAQ:SCHW) to $29.00 in a research report issued to clients and investors on Thursday, ARN reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 13.28% from the company’s current price.
Shares of Charles Schwab Corp. (NASDAQ:SCHW) traded down 0.06% during mid-day trading on Thursday, hitting $25.555. The stock had a trading volume of 2,769,256 shares. Charles Schwab Corp. has a one year low of $15.96 and a one year high of $27.11. The stock’s 50-day moving average is $25.44 and its 200-day moving average is $23.4. The company has a market cap of $32.946 billion and a price-to-earnings ratio of 32.78.
Charles Schwab Corp. (NASDAQ:SCHW) last released its earnings data on Wednesday, January 15th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company posted $0.15 earnings per share. Charles Schwab Corp.’s revenue was up 18.1% compared to the same quarter last year. Analysts expect that Charles Schwab Corp. will post $0.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Wednesday, February 5th.
In other Charles Schwab Corp. news, major shareholder Charles Schwab sold 150,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $24.25, for a total value of $3,637,500.00. Following the completion of the transaction, the insider now directly owns 1,325,250 shares of the company’s stock, valued at approximately $32,137,313. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
A number of other firms have also recently commented on SCHW. Analysts at Zacks reiterated a “neutral” rating on shares of Charles Schwab Corp. in a research note on Friday, January 17th. They now have a $28.00 price target on the stock. Separately, analysts at UBS AG reiterated a “hold” rating on shares of Charles Schwab Corp. in a research note on Friday, January 17th. They now have a $28.00 price target on the stock. Finally, analysts at Compass Point raised their price target on shares of Charles Schwab Corp. from $20.00 to $25.00 in a research note on Friday, January 17th. They now have a “neutral” rating on the stock. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $21.97.
The Charles Schwab Corporation (NASDAQ:SCHW) is a savings and loan holding company.
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