Brokerage operator The Charles Schwab Corporation ( SCHW ) on Wednesday saw its earnings estimates cut by analysts at JMP Securities.
The firm said it lowered its estimates for SCHW through 2012, noting the company is seeing lower asset fees. JMP also pointed to the historically-low interest rate environment for the move, and maintained its "Market Perform" rating.
Charles Schwab shares, which have plunged 32% year-to-date, were unchanged in premarket trading Wednesday.
The Bottom Line
Shares of Charles Schwab ( SCHW ) have a 2.07% dividend yield, based on last night's closing stock price of $11.58. The stock has technical support in the $10 price area. If the shares can firm up, we see overhead resistance around the $13-$14 price levels.
The Charles Schwab Corporation ( SCHW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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