Charles Schwab Co. (NYSE:SCHW) – Equities research analysts at Jefferies Financial Group increased their Q4 2018 EPS estimates for shares of Charles Schwab in a report issued on Tuesday, January 8th. Jefferies Financial Group analyst D. Fannon now forecasts that the financial services provider will post earnings of $0.65 per share for the quarter, up from their prior forecast of $0.64. Jefferies Financial Group also issued estimates for Charles Schwab’s Q1 2019 earnings at $0.64 EPS, Q2 2019 earnings at $0.67 EPS, Q3 2019 earnings at $0.71 EPS, Q4 2019 earnings at $0.72 EPS, FY2019 earnings at $2.74 EPS and FY2020 earnings at $2.98 EPS.
SCHW has been the subject of a number of other reports. Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Thursday, January 3rd. Morgan Stanley reissued an “overweight” rating on shares of Charles Schwab in a research note on Thursday, November 15th. Barclays decreased their price objective on Charles Schwab from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, October 22nd. Wolfe Research initiated coverage on Charles Schwab in a report on Tuesday, September 25th. They issued an “underperform” rating for the company. Finally, Goldman Sachs Group initiated coverage on Charles Schwab in a report on Friday, November 30th. They issued a “buy” rating and a $55.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $54.87.
Shares of SCHW opened at $43.82 on Thursday. The firm has a market cap of $59.19 billion, a PE ratio of 26.72, a P/E/G ratio of 0.96 and a beta of 1.35. Charles Schwab has a 12-month low of $37.83 and a 12-month high of $60.22. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.32.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.65. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.58 billion. Charles Schwab had a net margin of 32.65% and a return on equity of 19.02%. The business’s revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share.
A number of institutional investors have recently made changes to their positions in SCHW. LFA Lugano Financial Advisors SA acquired a new position in shares of Charles Schwab during the third quarter valued at about $111,000. Sapphire Star Partners LP acquired a new position in shares of Charles Schwab during the third quarter valued at about $123,000. Point72 Hong Kong Ltd acquired a new position in shares of Charles Schwab during the second quarter valued at about $134,000. Zions Bancorporation acquired a new position in shares of Charles Schwab during the third quarter valued at about $136,000. Finally, Lourd Capital LLC acquired a new position in shares of Charles Schwab during the third quarter valued at about $201,000. Institutional investors and hedge funds own 79.52% of the company’s stock.
In other news, insider Walter W. Bettinger bought 124,669 shares of Charles Schwab stock in a transaction on Wednesday, December 26th. The stock was acquired at an average cost of $38.81 per share, for a total transaction of $4,838,403.89. Following the completion of the acquisition, the insider now owns 335,093 shares of the company’s stock, valued at approximately $13,004,959.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan M. Craig sold 2,629 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $48.84, for a total transaction of $128,400.36. The disclosure for this sale can be found here. Insiders sold 411,366 shares of company stock valued at $19,333,819 over the last quarter. 11.50% of the stock is currently owned by corporate insiders.
Charles Schwab announced that its Board of Directors has approved a share buyback plan on Thursday, October 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 1.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
About Charles Schwab
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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