Charles Schwab Corp Given Average Rating of “Hold” by Brokerages (NASDAQ:SCHW)
Charles Schwab Corp (NASDAQ:SCHW) has been given a consensus recommendation of “Hold” by the twelve analysts that are covering the stock, American Banking & Market News reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $29.00.
Shares of Charles Schwab Corp (NASDAQ:SCHW) opened at 27.50 on Tuesday. Charles Schwab Corp has a 52-week low of $20.44 and a 52-week high of $29.13. The stock’s 50-day moving average is $27.07 and its 200-day moving average is $26.3. The company has a market cap of $35.781 billion and a P/E ratio of 30.08.
Charles Schwab Corp (NASDAQ:SCHW) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $0.23 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.23. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that Charles Schwab Corp will post $0.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, August 6th.
In other Charles Schwab Corp news, major shareholder Charles R. Schwab sold 720,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $27.63, for a total value of $19,893,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of analysts have recently weighed in on SCHW shares. Analysts at Zacks reiterated a “neutral” rating on shares of Charles Schwab Corp in a research note on Thursday, July 17th. They now have a $29.00 price target on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Charles Schwab Corp in a research note on Monday, July 14th. They set a “buy” rating and a $35.00 price target on the stock. Finally, analysts at Raymond James upgraded shares of Charles Schwab Corp from an “underperform” rating to a “market perform” rating in a research note on Monday, July 7th.
The Charles Schwab Corporation (NASDAQ:SCHW) is a savings and loan holding company.
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