Brokerages Expect The Charles Schwab Corporation (NYSE:SCHW) Will Post Quarterly Sales of $2.18 Billion

Analysts forecast that The Charles Schwab Corporation (NYSE:SCHW) will post $2.18 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for The Charles Schwab Corporation’s earnings, with the highest sales estimate coming in at $2.21 billion and the lowest estimate coming in at $2.17 billion. The Charles Schwab Corporation posted sales of $1.91 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 14.1%. The company is scheduled to announce its next earnings results on Monday, October 16th.

According to Zacks, analysts expect that The Charles Schwab Corporation will report full-year sales of $2.18 billion for the current financial year, with estimates ranging from $8.59 billion to $8.70 billion. For the next year, analysts expect that the firm will post sales of $9.73 billion per share, with estimates ranging from $9.37 billion to $9.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow The Charles Schwab Corporation.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share.

Several equities research analysts have recently issued reports on the stock. Instinet reaffirmed a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 24th. Argus reiterated a “buy” rating and set a $48.00 price target (up from $46.00) on shares of The Charles Schwab Corporation in a research note on Friday, July 21st. Nomura lowered shares of The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 24th. Citigroup Inc. started coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target on the stock. Finally, Rosenblatt Securities started coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The Charles Schwab Corporation has an average rating of “Buy” and a consensus price target of $44.00.

Shares of The Charles Schwab Corporation (SCHW) traded up 0.54% during trading on Friday, hitting $43.13. The stock had a trading volume of 6,621,639 shares. The stock has a market cap of $57.67 billion, a P/E ratio of 28.95 and a beta of 1.63. The stock’s 50 day moving average price is $42.60 and its 200-day moving average price is $40.96. The Charles Schwab Corporation has a one year low of $27.71 and a one year high of $44.10.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Wednesday, August 9th. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 21.48%.

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In related news, EVP Joseph R. Martinetto sold 89,330 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $42.51, for a total transaction of $3,797,418.30. Following the transaction, the executive vice president now owns 207,961 shares of the company’s stock, valued at $8,840,422.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 26,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $42.80, for a total transaction of $1,112,800.00. The disclosure for this sale can be found here. Insiders sold 242,208 shares of company stock worth $10,264,181 in the last ninety days. Insiders own 12.00% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of The Charles Schwab Corporation by 9.1% in the fourth quarter. Teachers Advisors LLC now owns 1,806,057 shares of the financial services provider’s stock valued at $71,285,000 after buying an additional 151,173 shares during the period. Macquarie Group Ltd. raised its stake in The Charles Schwab Corporation by 8,699.5% in the fourth quarter. Macquarie Group Ltd. now owns 2,270,273 shares of the financial services provider’s stock valued at $89,608,000 after buying an additional 2,244,473 shares during the last quarter. New Century Investment Management Inc. acquired a new stake in The Charles Schwab Corporation during the fourth quarter valued at about $907,000. Toth Financial Advisory Corp raised its stake in The Charles Schwab Corporation by 4.9% in the first quarter. Toth Financial Advisory Corp now owns 18,105 shares of the financial services provider’s stock valued at $739,000 after buying an additional 850 shares during the last quarter. Finally, Park National Corp OH acquired a new stake in The Charles Schwab Corporation during the first quarter valued at about $624,000. 79.25% of the stock is owned by hedge funds and other institutional investors.

The Charles Schwab Corporation 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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