FBR Capital Reiterates a 'Market Perform' on Charles Schwab (SCHW); Not a Bad Option for Schwab
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Price: $74.66 -0.7%
Rating Summary:
17 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
17 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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FBR Capital reiterates a 'Market Perform' on Charles Schwab Corp. (NYSE: SCHW), PT $19.
FBR analyst says, "We view the transaction positively from a strategic standpoint as the optionsXpress platform gives Schwab more traction into the faster-growing and more profitable active trader segment. However, from a financial perspective, the deal will likely not have a significant near-term impact, and we believe the key catalyst for Schwab remains higher interest rates. Given the still-uncertain macro environment, we continue to view meaningful rate hikes as a medium- to longer-term event.
"In order to reflect the optionsXpress (Nasdaq: OXPS) transaction, we are adjusting our FY11 and FY12 GAAP EPS estimates to $0.73 and $1.08, respectively, from $0.75 and $1.05. Note, our FY11 estimate includes the $55 million of expected restructuring charges."
For more ratings news on Charles Schwab Corp. click here and for the rating history of Charles Schwab Corp. click here.
Shares of Charles Schwab Corp. closed at $17.65 yesterday.
FBR analyst says, "We view the transaction positively from a strategic standpoint as the optionsXpress platform gives Schwab more traction into the faster-growing and more profitable active trader segment. However, from a financial perspective, the deal will likely not have a significant near-term impact, and we believe the key catalyst for Schwab remains higher interest rates. Given the still-uncertain macro environment, we continue to view meaningful rate hikes as a medium- to longer-term event.
"In order to reflect the optionsXpress (Nasdaq: OXPS) transaction, we are adjusting our FY11 and FY12 GAAP EPS estimates to $0.73 and $1.08, respectively, from $0.75 and $1.05. Note, our FY11 estimate includes the $55 million of expected restructuring charges."
For more ratings news on Charles Schwab Corp. click here and for the rating history of Charles Schwab Corp. click here.
Shares of Charles Schwab Corp. closed at $17.65 yesterday.
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