The Charles Schwab Corporation (NYSE: SCHW) - Q1 FY’11 Earnings Preview
Thursday, April 14, 2022 8:00 PM

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The Charles Schwab Corporation (NYSE: SCHW) is expected to report its fiscal 2011 first-quarter financial results on Friday, April 15, 2011. In the last four quarters ending December 31, 2010, SCHW's reported earnings per share has exceeded analysts' consensus estimate by margins of 13.30 percent in June 2010 and 11.10 percent in September 2010. However, the company met the expectations for the previous quarter and missed the anticipations for the March 2010 by 100 percent.

The Charles Schwab Corporation has been a leader in financial services for more than three decades. Through advocacy and innovation, the company has worked to make investing more affordable, more accessible and more understandable to all. The Charles Schwab Corporation is one of the nation's leading providers of financial services. The Charles Schwab Corporation lists shares on the New York Stock Exchange (NYSE). 

The company reported that its net income was $119 million for the fourth quarter of 2010, down 27% from $164 million for the fourth quarter of 2009. For the twelve months ended December 31, 2010, the company's net income was $454 million, down 42% from the year-earlier period. For the fourth quarter, total accounts reached 5.6 million in investor service division as of December 31, 2010, up 4% year-over-year. For Charles Schwab Bank, balance sheet assets equal $54.9 billion, up 27% year-over-year. Outstanding mortgage and home equity loans amounted to $8.2 billion, up 17% year-over-year. Delinquency, nonaccrual, and loss reserve ratios for Schwab Bank's loan portfolio = 0.96%, 0.58% and 0.60%, respectively as off end of December.

During the quarter, The Board of Directors of The Charles Schwab Corporation has declared a regular quarterly cash dividend of $0.06 per common share. The dividend was payable February 25, 2022 to stockholders of record February 11, 2011.

The Charles Schwab Corporation and optionsXpress Holdings, Inc., (NASDAQ:OXPS) recently announced they have signed a definitive agreement under which Schwab will acquire optionsXpress. Under the terms of the agreement, optionsXpress stockholders will receive 1.02 shares of Schwab stock for each share of optionsXpress stock. Based on Schwab's closing stock price as of March 18, 2011, the transaction values each optionsXpress share at $17.91, resulting in a total transaction value of approximately $1.0 billion. Both companies will initially retain their separate brand identities, while benefitting from significant synergies and capabilities across their complementary business lines. The deal is expected to close during the third quarter, subject to optionsXpress stockholder approval and regulatory approvals, along with customary closing conditions. On a pro forma basis, the combined organizations would have generated net revenues of $4.479 billion in 2010.

Analysts are expecting average EPS of $0.18 for the first quarter of fiscal 2011. The revenue estimate for the quarter is $1.18 billion as compare to $978 million in the prior year's same quarter. This is an estimated increase of 20.50 percent. In the last 52 weeks, the stock has been trading in the range of $12.64 - $19.95. The target price of the stock is estimated between the range of $16 and $24 with the mean target price of $20.47.


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