The Charles Schwab Corporation (NYSE:SCHW) Announces Earnings Results, Hits Estimates
The Charles Schwab Corporation (NYSE:SCHW) released its earnings results on Monday. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.39, MarketWatch Earnings reports. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.04% and a net margin of 26.18%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS.
Shares of The Charles Schwab Corporation (NYSE SCHW) traded down 0.51% during trading on Tuesday, reaching $42.71. The company’s stock had a trading volume of 3,795,131 shares. The firm’s 50-day moving average is $40.43 and its 200 day moving average is $40.53. The Charles Schwab Corporation has a 52-week low of $26.81 and a 52-week high of $44.10. The company has a market cap of $57.11 billion, a PE ratio of 30.29 and a beta of 1.63.
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SCHW has been the topic of several recent research reports. Citigroup Inc. reissued a “buy” rating and set a $43.00 price objective (down previously from $45.00) on shares of The Charles Schwab Corporation in a report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $44.00 price objective on The Charles Schwab Corporation and gave the stock a “buy” rating in a report on Monday, April 10th. Deutsche Bank AG decreased their price objective on The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, April 24th. Wells Fargo & Company reissued a “market perform” rating and set a $44.00 price objective (up previously from $42.00) on shares of The Charles Schwab Corporation in a report on Monday, June 12th. Finally, Morgan Stanley reissued an “overweight” rating and set a $48.00 price objective (up previously from $45.00) on shares of The Charles Schwab Corporation in a report on Monday, July 10th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $43.26.
In other news, Chairman Charles R. Schwab sold 300,000 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $40.25, for a total value of $12,075,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Terri R. Kallsen sold 27,122 shares of the stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $38.36, for a total value of $1,040,399.92. Following the completion of the transaction, the executive vice president now owns 5,212 shares of the company’s stock, valued at $199,932.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 369,060 shares of company stock worth $14,803,786. Company insiders own 12.00% of the company’s stock.
The Charles Schwab Corporation Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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