SunTrust Banks Analysts Cut Earnings Estimates for Charles Schwab Corp (SCHW)

Charles Schwab Corp (NYSE:SCHW) – Research analysts at SunTrust Banks reduced their Q1 2018 earnings estimates for Charles Schwab in a research note issued to investors on Thursday. SunTrust Banks analyst D. Mewhirter now forecasts that the financial services provider will earn $0.52 per share for the quarter, down from their previous forecast of $0.53. SunTrust Banks currently has a “Buy” rating and a $63.00 target price on the stock.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a net margin of 27.32% and a return on equity of 16.31%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share.

Other equities research analysts also recently issued reports about the stock. Citigroup reiterated a “buy” rating and set a $60.00 price objective (up from $52.00) on shares of Charles Schwab in a research note on Tuesday, January 9th. JMP Securities cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 3rd. Nomura reissued a “neutral” rating and issued a $54.00 target price (up previously from $50.00) on shares of Charles Schwab in a report on Thursday. Argus increased their target price on shares of Charles Schwab from $59.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BidaskClub raised shares of Charles Schwab from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Charles Schwab currently has an average rating of “Buy” and a consensus target price of $54.00.

Shares of Charles Schwab (NYSE:SCHW) opened at $55.48 on Monday. The stock has a market cap of $74,290.00, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.36 and a beta of 1.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.30 and a current ratio of 0.31. Charles Schwab has a one year low of $37.16 and a one year high of $56.25.

A number of hedge funds and other institutional investors have recently modified their holdings of SCHW. Thrivent Financial For Lutherans raised its holdings in Charles Schwab by 3.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 46,035 shares of the financial services provider’s stock valued at $1,978,000 after buying an additional 1,400 shares during the last quarter. MML Investors Services LLC raised its holdings in Charles Schwab by 25.5% in the 2nd quarter. MML Investors Services LLC now owns 10,569 shares of the financial services provider’s stock valued at $454,000 after buying an additional 2,148 shares during the last quarter. Mariner Wealth Advisors LLC raised its holdings in Charles Schwab by 23.3% during the 2nd quarter. Mariner Wealth Advisors LLC now owns 20,365 shares of the financial services provider’s stock worth $874,000 after purchasing an additional 3,854 shares during the last quarter. Suntrust Banks Inc. raised its holdings in Charles Schwab by 5.9% during the 2nd quarter. Suntrust Banks Inc. now owns 120,544 shares of the financial services provider’s stock worth $5,177,000 after purchasing an additional 6,734 shares during the last quarter. Finally, Cibc World Markets Corp raised its holdings in Charles Schwab by 35.5% during the 2nd quarter. Cibc World Markets Corp now owns 171,944 shares of the financial services provider’s stock worth $7,387,000 after purchasing an additional 45,072 shares during the last quarter. Institutional investors and hedge funds own 79.59% of the company’s stock.

In related news, Chairman Charles R. Schwab sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $55.31, for a total value of $16,593,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter B. Crawford sold 1,063 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $44.64, for a total transaction of $47,452.32. Following the completion of the transaction, the chief financial officer now owns 11,302 shares of the company’s stock, valued at approximately $504,521.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,958,531 shares of company stock valued at $93,990,901. 12.00% of the stock is owned by company insiders.

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Charles Schwab 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.

Earnings History and Estimates for Charles Schwab (NYSE:SCHW)

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