The Charles Schwab Co. Forecasted to Earn Q2 2024 Earnings of $0.85 Per Share (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) – Investment analysts at William Blair upped their Q2 2024 EPS estimates for Charles Schwab in a research report issued on Tuesday, April 16th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $0.85 per share for the quarter, up from their prior estimate of $0.82. The consensus estimate for Charles Schwab’s current full-year earnings is $3.40 per share. William Blair also issued estimates for Charles Schwab’s Q3 2024 earnings at $0.90 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $3.45 EPS and Q3 2025 earnings at $1.08 EPS.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Piper Sandler upped their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on shares of Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Barclays upped their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $74.47.

Charles Schwab Price Performance

Shares of NYSE SCHW traded down $0.57 on Wednesday, hitting $72.50. The company’s stock had a trading volume of 9,667,958 shares, compared to its average volume of 7,747,594. Charles Schwab has a 12-month low of $45.65 and a 12-month high of $73.83. The company has a market capitalization of $128.76 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a 50 day moving average of $67.97 and a 200-day moving average of $62.75.

Hedge Funds Weigh In On Charles Schwab

Hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 33.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after purchasing an additional 17,369,091 shares during the period. Norges Bank acquired a new stake in shares of Charles Schwab during the fourth quarter worth approximately $1,325,555,000. Morgan Stanley boosted its holdings in shares of Charles Schwab by 62.5% during the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after purchasing an additional 8,563,389 shares during the period. Dodge & Cox boosted its holdings in shares of Charles Schwab by 10.5% during the fourth quarter. Dodge & Cox now owns 86,421,986 shares of the financial services provider’s stock worth $5,945,833,000 after purchasing an additional 8,182,467 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after acquiring an additional 6,195,934 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, insider Jonathan M. Craig sold 4,977 shares of Charles Schwab stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $70.01, for a total value of $348,439.77. Following the sale, the insider now directly owns 81,446 shares in the company, valued at approximately $5,702,034.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Charles Schwab news, insider Jonathan M. Craig sold 4,977 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $70.01, for a total transaction of $348,439.77. Following the transaction, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,702,034.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Peter B. Crawford sold 4,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the transaction, the chief financial officer now directly owns 37,611 shares in the company, valued at approximately $2,425,533.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,584 shares of company stock worth $14,200,769. 6.60% of the stock is currently owned by insiders.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. Charles Schwab’s payout ratio is currently 41.84%.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.