FY2020 EPS Estimates for Charles Schwab Co. Decreased by Jefferies Financial Group (NYSE:SCHW)

Charles Schwab Co. (NYSE:SCHW) – Analysts at Jefferies Financial Group lowered their FY2020 earnings per share estimates for Charles Schwab in a research report issued to clients and investors on Wednesday, October 9th. Jefferies Financial Group analyst D. Fannon now expects that the financial services provider will post earnings per share of $2.42 for the year, down from their previous estimate of $2.77.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 previous year, the firm posted $0.60 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year.

Several other research analysts also recently issued reports on the company. Wells Fargo & Co downgraded Charles Schwab from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $50.00 to $38.00 in a research report on Thursday, October 3rd. Bank of America downgraded Charles Schwab from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $49.00 to $43.00 in a research report on Friday, July 12th. JPMorgan Chase & Co. cut their price objective on Charles Schwab from $48.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Wolfe Research upgraded Charles Schwab from a “peer perform” rating to an “outperform” rating and lifted their price objective for the stock from $42.00 to $46.00 in a research report on Tuesday, September 3rd. Finally, ValuEngine upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Charles Schwab has a consensus rating of “Hold” and an average target price of $44.16.

Shares of Charles Schwab stock opened at $37.72 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31. Charles Schwab has a 1 year low of $34.58 and a 1 year high of $49.43. The company has a market capitalization of $47.24 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.42 and a beta of 1.32. The business has a 50 day moving average price of $39.42 and a 200 day moving average price of $41.56.

In other Charles Schwab news, Chairman Charles R. Schwab sold 105,422 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $40.08, for a total value of $4,225,313.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Goldfarb acquired 2,595 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $38.68 per share, with a total value of $100,374.60. Following the completion of the purchase, the director now directly owns 3,771 shares in the company, valued at $145,862.28. The disclosure for this purchase can be found here. Insiders sold a total of 215,937 shares of company stock valued at $8,847,494 over the last quarter. 10.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board grew its stake in shares of Charles Schwab by 5.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,391 shares of the financial services provider’s stock valued at $48,043,000 after buying an additional 59,260 shares during the period. Comerica Bank grew its stake in shares of Charles Schwab by 2.1% during the 2nd quarter. Comerica Bank now owns 281,960 shares of the financial services provider’s stock valued at $11,619,000 after buying an additional 5,665 shares during the period. Chemical Bank grew its stake in shares of Charles Schwab by 2.3% during the 2nd quarter. Chemical Bank now owns 54,203 shares of the financial services provider’s stock valued at $2,179,000 after buying an additional 1,236 shares during the period. Rathbone Brothers plc grew its stake in shares of Charles Schwab by 3.2% during the 2nd quarter. Rathbone Brothers plc now owns 15,943 shares of the financial services provider’s stock valued at $641,000 after buying an additional 495 shares during the period. Finally, Atlanta Capital Management Co. L L C grew its stake in shares of Charles Schwab by 2.9% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 936,913 shares of the financial services provider’s stock valued at $37,655,000 after buying an additional 26,327 shares during the period. 79.07% of the stock is owned by institutional investors.

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.

Further Reading: What are Institutional Investors?

Earnings History and Estimates for Charles Schwab (NYSE:SCHW)

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