Wall Street analysts forecast that Charles Schwab Corp (NYSE:SCHW) will post $2.33 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Charles Schwab’s earnings. The lowest sales estimate is $2.28 billion and the highest is $2.39 billion. Charles Schwab reported sales of $2.08 billion during the same quarter last year, which indicates a positive year over year growth rate of 12%. The company is expected to announce its next quarterly earnings report on Tuesday, April 17th.
According to Zacks, analysts expect that Charles Schwab will report full-year sales of $2.33 billion for the current fiscal year, with estimates ranging from $9.69 billion to $10.15 billion. For the next year, analysts forecast that the firm will post sales of $11.09 billion per share, with estimates ranging from $10.35 billion to $11.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Charles Schwab.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. Charles Schwab’s revenue 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.
Shares of Charles Schwab (NYSE:SCHW) traded down $0.14 during midday trading on Wednesday, hitting $52.17. The company had a trading volume of 5,890,000 shares, compared to its average volume of 7,940,000. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $69,940.00, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of 1.29 and a beta of 1.63. Charles Schwab has a twelve month low of $37.16 and a twelve month high of $56.25.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a dividend of $0.10 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, February 8th. Charles Schwab’s dividend payout ratio is currently 25.32%.
In other news, EVP Nigel J. Murtagh sold 10,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $45.79, for a total transaction of $457,900.00. Following the sale, the executive vice president now owns 33,441 shares in the company, valued at $1,531,263.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marie A. Chandoha sold 56,327 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $45.86, for a total value of $2,583,156.22. The disclosure for this sale can be found here. Insiders have sold 1,733,394 shares of company stock valued at $89,462,077 over the last quarter. Corporate insiders own 12.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Charles Schwab by 5.2% during the fourth quarter. BlackRock Inc. now owns 79,858,312 shares of the financial services provider’s stock worth $4,102,323,000 after purchasing an additional 3,943,376 shares during the last quarter. Edgewood Management LLC grew its holdings in shares of Charles Schwab by 8.4% during the third quarter. Edgewood Management LLC now owns 20,125,345 shares of the financial services provider’s stock worth $880,283,000 after purchasing an additional 1,559,733 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Charles Schwab by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 13,721,562 shares of the financial services provider’s stock worth $704,877,000 after purchasing an additional 65,464 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Charles Schwab by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 11,354,301 shares of the financial services provider’s stock worth $581,904,000 after purchasing an additional 280,153 shares during the last quarter. Finally, Jackson Square Partners LLC grew its holdings in shares of Charles Schwab by 13.8% during the third quarter. Jackson Square Partners LLC now owns 10,807,952 shares of the financial services provider’s stock worth $472,739,000 after purchasing an additional 1,307,627 shares during the last quarter. Institutional investors own 79.47% of the company’s stock.
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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.
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