Zacks Reiterates Neutral Rating for Charles Schwab Corp (SCHW)
Charles Schwab Corp (NASDAQ:SCHW)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Tuesday. They currently have a $30.00 price objective on the stock. Zacks‘s target price indicates a potential upside of 5.23% from the company’s current price.
Zacks’ analyst wrote, “Schwab’s second-quarter 2014 earnings marginally beat the Zacks Consensus Estimate. Results benefited primarily from growth in revenues, partially offset by slightly higher operating expenses and increase in provision for loan losses. We expect continued improvement in trading revenues with increasing trading activities. Moreover, synergies from acquisitions and a stable capital position will continue to boost the company’s financials going forward. However, we remain concerned about the sluggish economic recovery, mounting expenses and a still low interest rate environment.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank initiated coverage on shares of Charles Schwab Corp in a research note on Thursday, August 14th. They set a “buy” rating and a $34.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Charles Schwab Corp in a research note on Monday, July 28th. They now have a $29.00 price target on the stock, up previously from $27.00. Finally, analysts at Sandler O’Neill raised their price target on shares of Charles Schwab Corp from $1.00 to $31.00 in a research note on Monday, July 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Charles Schwab Corp currently has an average rating of “Hold” and a consensus target price of $30.11.
In other Charles Schwab Corp news, EVP Bernard J. Clark sold 26,115 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $28.98, for a total value of $756,812.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Charles Schwab Corp (NASDAQ:SCHW) traded up 0.11% during mid-day trading on Tuesday, hitting $28.54. 998,994 shares of the company’s stock traded hands. Charles Schwab Corp has a 1-year low of $20.44 and a 1-year high of $29.16. The stock’s 50-day moving average is $27.82 and its 200-day moving average is $26.82. The company has a market cap of $37.198 billion and a price-to-earnings ratio of 31.02.
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. Analysts expect that Charles Schwab Corp will post $0.96 EPS for the current fiscal year.
The Charles Schwab Corporation (NASDAQ:SCHW) is a savings and loan holding company.
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