Company Update (NYSE:SCHW): Schwab Reports Net Income Up 36% to $412 Million, a First Quarter Record

[Business Wire] – The Charles Schwab Corporation announced today that its net income for the first quarter of 2016 was $412 million, comparable to $416 million for the fourth quarter of 2015, and up 36% from $302 million for the first quarter of 2015. Read more on this. The Charles Schwab Corporation (SCHW) , valued at $38.10B, opened at $29.10. A quick look at the market, the company’s stock traded between $28.64 and $29.18 with a one year range of $21.51 to $35.72. Charles Schwab (SCHW) shares are currently priced at 23.18x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.48x earnings multiple for the same period. And for income investors, the company pays shareholders $0.24 per share annually in dividends, yielding 0.87%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $0.29 per share, which would be $0.07 better than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $1.24 is a $0.27 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.75 Billion. If realized, that would be a 14.38% increase over the year-ago quarter. More recently, Credit Agricole upgraded SCHW from Underperform to Outperform (Feb 16, 2016). Previously, Nomura upgraded SCHW from Neutral to Buy. Given all the information above, we should disclose to readers that the average price target is $31.38, which is 7.84% above than it opened this morning. See more in (NYSE:SCHW) Similar Articles: Market Update (NYSE:SCHW): Schwab Reports Monthly Activity Highlights Company Update: The Charles Schwab Corporation (NYSE:SCHW) – Schwab ETF OneSource™ Shares Compelling View of the ETF Industry Company Update: The Charles Schwab Corporation (NYSE:SCHW) – Schwab Reports Record Quarterly Net Income of $416 Million, Up 19%