Third quarter 2021 EPS estimates for The Charles Schwab Co. (NYSE: SCHW) lowered by analyst
The Charles Schwab Co. (NYSE: SCHW) – Piper Sandler stock research analysts cut their earnings per share estimates for the third quarter of 2021 for The Charles Schwab in a report released on Thursday, October 7. Piper Sandler analyst R. Repetto now predicts the financial services provider will earn $ 0.81 per share for the quarter, down from its previous estimate of $ 0.82. Piper Sandler also released estimates for The Charles Schwab’s fourth quarter 2022 earnings at $ 0.93 EPS, FY2022 earnings at $ 3.56 EPS, FY2023 earnings at $ 4.06 EPS and FY2024 earnings at $ 4.59 BPA.
SCHW has been the subject of several other research reports. raised its target price on The Charles Schwab stock from $ 93.00 to $ 94.00 and assigned a “buy” rating to the stock in a report released on Monday, July 12. The Goldman Sachs group downgraded The Charles Schwab’s stock rating from a “buy” rating to a “neutral” rating and set a target price of $ 76.00 for the company. in a report on Thursday, July 8. Atlantic Securities launched coverage on The Charles Schwab shares in a report released on Tuesday. They issued an “overweight” rating and a target price of $ 95.00 for the company. Zacks Investment Research downgraded shares of The Charles Schwab from a “sell” rating to a “buy” rating and set a target price of $ 80.00 for the company in a report released on Wednesday, September 29. . Finally, Citigroup lowered its price target for The Charles Schwab stock from $ 94.00 to $ 90.00 and set a “buy” rating on the stock in a research note on Monday, July 19. Two analysts rated the stock with a conservation rating and fourteen issued a buy rating for the company. According to MarketBeat data, the stock has an average rating of “Buy” and an average price target of $ 82.33.
NYSE: SCHW opened at $ 76.39 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36, and a debt ratio of 0.39. The Charles Schwab has a 12-month low of $ 37.01 and a 12-month high of $ 77.96. The company has a market cap of $ 138.04 billion, a PE ratio of 32.23 and a beta of 1.05. The company has a 50-day simple moving average of $ 72.57 and a 200-day simple moving average of $ 70.88. Charles Schwab (NYSE: SCHW) last released its results on Thursday, July 15. The financial services provider reported $ 0.70 in EPS for the quarter, missing analyst consensus estimates of $ 0.71 per ($ 0.01). The Charles Schwab had a return on equity of 12.89% and a net margin of 28.88%. The company posted revenue of $ 4.53 billion in the quarter, compared to a consensus estimate of $ 4.46 billion. During the same period last year, the company posted $ 0.54 EPS. The company’s revenue for the quarter increased 84.8% year-over-year.
Several hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Vanguard Group Inc. increased its stake in The Charles Schwab shares by 1.0% during the second quarter. Vanguard Group Inc. now owns 115,044,473 shares of the financial services provider valued at $ 8,376,388,000 after purchasing an additional 1,140,653 shares in the last quarter. BlackRock Inc. increased its position in The Charles Schwab by 4.3% in the second quarter. BlackRock Inc. now owns 112,447,685 shares of the financial services provider valued at $ 8,187,314,000 after acquiring an additional 4,670,450 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in The Charles Schwab by 2.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 83,022,035 shares of the financial services provider valued at $ 6,044,834,000 after acquiring an additional 2,285,311 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in The Charles Schwab by 6.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 34,869,150 shares of the financial services provider valued at $ 2,272,772,000 after acquiring an additional 2,082,363 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in The Charles Schwab by 3.3% during the first quarter. Primecap Management Co. CA now owns 29,412,279 shares of the financial services provider valued at $ 1,917,092,000 after acquiring an additional 952,710 shares during the last quarter. Hedge funds and other institutional investors hold 71.66% of the company’s shares.
In other news from The Charles Schwab, Chairman Charles R. Schwab sold 81,400 shares of the company in a transaction dated Friday, August 6. The shares were sold for an average price of $ 71.21, for a total value of $ 5,796,494.00. The sale was disclosed in a filing with the SEC, which is available through this link. In addition, Executive Vice President Nigel J. Murtagh sold 25,000 shares of the company in a transaction dated Wednesday, August 25. The stock was sold at an average price of $ 74.76, for a total transaction of $ 1,869,000.00. Following the closing of the transaction, the Executive Vice President now owns 82,484 shares of the company, valued at $ 6,166,503.84. Disclosure of this sale can be found here. Insiders have sold a total of 539,762 shares of the company valued at $ 39,467,201 in the past three months. 7.50% of the shares are currently held by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27. Investors registered on Friday August 13 received a dividend of $ 0.18. This represents a dividend of $ 0.72 on an annualized basis and a return of 0.94%. The ex-dividend date of this dividend was Thursday, August 12. Charles Schwab’s dividend payout ratio (DPR) is currently 29.39%.
About Charles Schwab
The Charles Schwab Corp. is a savings and loan holding company providing wealth management, securities brokerage, banking, asset management, custody and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment comprises retail brokerage services and retail investor banking, and pension plan services, as well as other brokerage services to businesses, businesses and their employees.
See also: Market Timing
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