The Charles Schwab (NYSE:SCHW) issued its quarterly earnings results on Thursday. The financial services provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01, MarketWatch Earnings reports. The Charles Schwab had a net margin of 31.48% and a return on equity of 15.86%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company posted $0.70 EPS. The firm’s revenue was down 9.7% compared to the same quarter last year.
Shares of The Charles Schwab stock opened at $39.03 on Friday. The Charles Schwab has a 52-week low of $28.00 and a 52-week high of $51.65. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.33. The company’s 50-day simple moving average is $36.16 and its 200-day simple moving average is $35.40. The firm has a market cap of $50.30 billion, a price-to-earnings ratio of 16.40 and a beta of 1.17.
Several brokerages have commented on SCHW. Wolfe Research raised shares of The Charles Schwab from an “underperform” rating to a “peer perform” rating and set a $36.00 price target for the company in a research report on Thursday, July 9th. Morgan Stanley lifted their price objective on shares of The Charles Schwab from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Credit Suisse Group started coverage on shares of The Charles Schwab in a research report on Wednesday. They set a “neutral” rating and a $43.00 price objective for the company. Raymond James reaffirmed a “hold” rating on shares of The Charles Schwab in a research report on Thursday, August 6th. Finally, Citigroup boosted their price target on shares of The Charles Schwab from $38.00 to $38.50 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The Charles Schwab currently has an average rating of “Hold” and an average price target of $42.07.
In related news, Chairman Charles R. Schwab sold 200,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $34.11, for a total transaction of $6,822,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles A. Ruffel acquired 2,854 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were bought at an average cost of $34.91 per share, for a total transaction of $99,633.14. Following the acquisition, the director now owns 7,751 shares of the company’s stock, valued at approximately $270,587.41. The disclosure for this purchase can be found here. Insiders own 10.80% of the company’s stock.
The Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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