Q2 2024 Earnings Estimate for The Charles Schwab Co. Issued By William Blair (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) – William Blair boosted their Q2 2024 EPS estimates for shares of Charles Schwab in a note issued to investors on Wednesday, April 10th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings of $0.82 per share for the quarter, up from their prior forecast of $0.80. 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 $0.88 EPS, Q4 2024 earnings at $0.91 EPS and FY2024 earnings at $3.35 EPS.

A number of other research analysts have also weighed in on SCHW. Raymond James cut their target price on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, January 18th. Bank of America lifted their target price on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research report on Tuesday. TD Cowen lifted their price objective on Charles Schwab from $87.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Citigroup lifted their price objective on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and a consensus target price of $74.47.

Charles Schwab Trading Up 2.6 %

Shares of SCHW opened at $73.05 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. Charles Schwab has a 1 year low of $45.65 and a 1 year high of $73.65. The company has a 50 day simple moving average of $67.97 and a two-hundred day simple moving average of $62.75. The firm has a market cap of $129.74 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the prior year, the business earned $1.07 EPS. The business’s quarterly revenue was down 18.9% on a year-over-year basis.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors 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 yield of 1.37%. Charles Schwab’s dividend payout ratio is currently 39.37%.

Insider Activity at Charles Schwab

In other news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the transaction, the chief financial officer now directly owns 37,611 shares of the company’s stock, valued at approximately $2,425,533.39. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the transaction, the chief financial officer now directly owns 37,611 shares of the company’s stock, valued at approximately $2,425,533.39. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.87, for a total value of $637,830.00. Following the completion of the transaction, the director now directly owns 581,457 shares of the company’s stock, valued at $41,207,857.59. The disclosure for this sale can be found here. Insiders have sold a total of 216,584 shares of company stock worth $14,200,769 over the last quarter. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Hedge funds have recently modified their holdings of the business. Providence Capital Advisors LLC purchased a new position in Charles Schwab during the 3rd quarter valued at about $28,000. Main Street Group LTD acquired a new stake in Charles Schwab in the 4th quarter valued at about $29,000. Sugarloaf Wealth Management LLC raised its position in Charles Schwab by 60.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 165 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in Charles Schwab in the 4th quarter valued at about $30,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Charles Schwab in the 4th quarter valued at about $31,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

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.