The Charles Schwab Co. Expected to Earn Q2 2024 Earnings of $0.82 Per Share (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) – William Blair boosted their Q2 2024 earnings per share estimates for 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 earn $0.82 per share for the quarter, up from their previous estimate 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.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a return on equity of 21.33% and a net margin of 26.90%. The business 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 business posted $1.07 earnings per share. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year.

A number of other analysts also recently weighed in on SCHW. Citigroup increased 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. Bank of America increased their price target on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday. Keefe, Bruyette & Woods increased their price target on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $71.00 price target (up from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Finally, StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Three investment 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, the stock presently has an average rating of “Hold” and an average price target of $74.47.

Charles Schwab Stock Up 2.6 %

NYSE SCHW opened at $73.05 on Monday. Charles Schwab has a fifty-two week low of $45.65 and a fifty-two week high of $73.65. The stock has a market capitalization of $129.74 billion, a PE ratio of 28.76, a PEG ratio of 1.06 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 business has a fifty day moving average price of $67.97 and a two-hundred day moving average price of $62.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SCHW. Dodge & Cox boosted its stake in shares of Charles Schwab by 10.5% during the 4th quarter. Dodge & Cox now owns 86,421,986 shares of the financial services provider’s stock valued at $5,945,833,000 after buying an additional 8,182,467 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Charles Schwab by 33.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after buying an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Charles Schwab by 4.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after buying an additional 1,219,015 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Charles Schwab by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 27,050,168 shares of the financial services provider’s stock valued at $1,413,244,000 after buying an additional 391,238 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Charles Schwab by 62.5% during the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock valued at $1,853,005,000 after buying an additional 8,563,389 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling

In other news, CFO Peter B. Crawford sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the sale, the chief financial officer now owns 37,611 shares in the company, valued at approximately $2,425,533.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, CFO Peter B. Crawford sold 4,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Craig sold 4,977 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the sale, the insider now owns 81,446 shares in the company, valued at $5,702,034.46. The disclosure for this sale can be found here. Insiders sold 216,584 shares of company stock worth $14,200,769 over the last 90 days. 6.60% of the stock is owned by insiders.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid 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%.

Charles Schwab Company Profile

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.