$2.66 Billion in Sales Expected for Charles Schwab Co. (NYSE:SCHW) This Quarter

Equities research analysts predict that Charles Schwab Co. (NYSE:SCHW) will report sales of $2.66 billion for the current quarter, Zacks reports. Five analysts have made estimates for Charles Schwab’s earnings, with the lowest sales estimate coming in at $2.62 billion and the highest estimate coming in at $2.68 billion. Charles Schwab posted sales of $2.58 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The company is expected to announce its next quarterly 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 anticipate that the company will post sales of $10.95 billion, with estimates ranging from $10.70 billion to $11.45 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Charles Schwab.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year.

SCHW has been the subject of several recent analyst reports. Compass Point set a $45.00 target price on Charles Schwab and gave the company a “hold” rating in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $51.00 to $43.50 in a research report on Friday, July 12th. Wells Fargo & Co raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Monday, July 22nd. Deutsche Bank cut shares of Charles Schwab from a “buy” rating to a “hold” rating and reduced their price target for the stock from $52.00 to $43.00 in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. set a $44.00 price target on shares of Charles Schwab and gave the stock a “buy” rating in a research report on Friday, June 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $47.80.

In other Charles Schwab news, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $40.20, for a total value of $150,348.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark A. Goldfarb bought 2,595 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $38.68 per share, for a total transaction of $100,374.60. Following the acquisition, the director now directly owns 3,771 shares of the company’s stock, valued at $145,862.28. The disclosure for this purchase can be found here. Company insiders own 10.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Blume Capital Management Inc. raised its holdings in shares of Charles Schwab by 21.7% during the second quarter. Blume Capital Management Inc. now owns 1,400 shares of the financial services provider’s stock valued at $56,000 after buying an additional 250 shares during the last quarter. ETF Managers Group LLC raised its holdings in shares of Charles Schwab by 10.3% during the first quarter. ETF Managers Group LLC now owns 2,753 shares of the financial services provider’s stock valued at $118,000 after buying an additional 258 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Charles Schwab by 3.6% during the first quarter. Rehmann Capital Advisory Group now owns 7,400 shares of the financial services provider’s stock valued at $316,000 after buying an additional 260 shares during the last quarter. Gs Investments Inc. raised its holdings in shares of Charles Schwab by 0.5% during the first quarter. Gs Investments Inc. now owns 50,650 shares of the financial services provider’s stock valued at $2,166,000 after buying an additional 265 shares during the last quarter. Finally, Associated Banc Corp raised its holdings in shares of Charles Schwab by 1.6% during the second quarter. Associated Banc Corp now owns 16,864 shares of the financial services provider’s stock valued at $678,000 after buying an additional 267 shares during the last quarter. 79.36% of the stock is currently owned by hedge funds and other institutional investors.

NYSE SCHW traded down $0.03 during trading hours on Thursday, hitting $36.56. The company had a trading volume of 7,496,581 shares, compared to its average volume of 7,847,815. Charles Schwab has a fifty-two week low of $36.01 and a fifty-two week high of $52.70. The company has a market capitalization of $47.59 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 2.40 and a beta of 1.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s 50 day moving average is $40.62 and its 200 day moving average is $43.36.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.86%. Charles Schwab’s dividend payout ratio is currently 27.76%.

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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