Equities analysts predict that Charles Schwab Co. (NYSE:SCHW) will post sales of $2.66 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Charles Schwab’s earnings, with the highest sales estimate coming in at $2.71 billion and the lowest estimate coming in at $2.62 billion. Charles Schwab reported sales of $2.58 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.1%. The company is expected to report its next earnings results on Monday, October 21st.
According to Zacks, analysts expect that Charles Schwab will report full-year sales of $10.74 billion for the current year, with estimates ranging from $10.64 billion to $10.85 billion. For the next fiscal year, analysts forecast that the company will post sales of $10.86 billion, with estimates ranging from $10.70 billion to $11.01 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Charles Schwab.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.68 billion. Charles Schwab had a net margin of 35.29% and a return on equity of 20.60%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share.
In related news, Director Charles A. Ruffel purchased 2,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $46.10 per share, for a total transaction of $115,250.00. Following the acquisition, the director now directly owns 788 shares in the company, valued at $36,326.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $40.20, for a total value of $150,348.00. The disclosure for this sale can be found here. Insiders have sold 814,376 shares of company stock worth $37,150,434 in the last three months. 10.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SCHW. Quantamental Technologies LLC purchased a new position in shares of Charles Schwab during the 1st quarter worth approximately $32,000. Berman Capital Advisors LLC raised its position in Charles Schwab by 260.7% in the first quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 756 shares during the period. Spectrum Management Group Inc. raised its position in Charles Schwab by 44.5% in the first quarter. Spectrum Management Group Inc. now owns 1,071 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 330 shares during the period. Liberty Wealth Management LLC purchased a new position in Charles Schwab in the fourth quarter valued at about $49,000. Finally, First PREMIER Bank purchased a new position in Charles Schwab in the second quarter valued at about $49,000. 78.70% of the stock is owned by hedge funds and other institutional investors.
Shares of SCHW stock traded up $1.24 during mid-day trading on Tuesday, reaching $42.72. 12,138,906 shares of the company’s stock traded hands, compared to its average volume of 9,501,990. Charles Schwab has a 12 month low of $37.83 and a 12 month high of $53.61. The firm has a market cap of $57.03 billion, a P/E ratio of 17.44, a P/E/G ratio of 4.55 and a beta of 1.23. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $41.16.
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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