FBR Capital Reiterates a 'Market Perform' on Charles Schwab (SCHW); Organic Growth Returns, Outlook Remains Challenging
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Price: $75.23 --0%
Rating Summary:
17 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 14
Rating Summary:
17 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 14
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FBR Capital reiterates a 'Market Perform' on Charles Schwab Corp. (NYSE: SCHW), PT lowered from $20 to $19.
FBR analyst says, "Our key takeaway is that although trading activity was weaker than peers, organic growth returned and came in ahead of expectations, a meaningful improvement from the April outflows. Nonetheless, with further equity market weakness month-to-date and continued macro uncertainty, we expect significant and sustained organic growth will remain challenging in the near term. Furthermore, although valuation has become more balanced, with interest rates likely remaining low for the foreseeable future, the key positive catalyst for SCHW shares remains a longer-term event, in our view."
"Given the pullback in equity markets quarter-to-date and slowdown in trading activity, we are lowering our 2011 and 2012 GAAP EPS estimates to $0.75 and $1.10, respectively, from $0.76 and $1.13."
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 $16.01 yesterday.
FBR analyst says, "Our key takeaway is that although trading activity was weaker than peers, organic growth returned and came in ahead of expectations, a meaningful improvement from the April outflows. Nonetheless, with further equity market weakness month-to-date and continued macro uncertainty, we expect significant and sustained organic growth will remain challenging in the near term. Furthermore, although valuation has become more balanced, with interest rates likely remaining low for the foreseeable future, the key positive catalyst for SCHW shares remains a longer-term event, in our view."
"Given the pullback in equity markets quarter-to-date and slowdown in trading activity, we are lowering our 2011 and 2012 GAAP EPS estimates to $0.75 and $1.10, respectively, from $0.76 and $1.13."
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 $16.01 yesterday.
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