Q2 2023 EPS Estimates for The Charles Schwab Co. Decreased by Analyst (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW – Get Rating) – Analysts at Zacks Research decreased their Q2 2023 earnings estimates for shares of Charles Schwab in a report issued on Thursday, May 11th. Zacks Research analyst S. Shah now expects that the financial services provider will post earnings per share of $0.78 for the quarter, down from their previous estimate of $0.79. The consensus estimate for Charles Schwab’s current full-year earnings is $3.38 per share. Zacks Research also issued estimates for Charles Schwab’s Q3 2023 earnings at $0.76 EPS, FY2023 earnings at $3.22 EPS, Q1 2024 earnings at $0.80 EPS, FY2024 earnings at $3.72 EPS, Q1 2025 earnings at $1.13 EPS and FY2025 earnings at $4.85 EPS.

Charles Schwab (NYSE:SCHW – Get Rating) last announced its earnings results on Monday, April 17th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.90 by $0.03. Charles Schwab had a net margin of 34.82% and a return on equity of 27.36%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis.

A number of other analysts have also issued reports on the stock. William Blair reissued an “outperform” rating on shares of Charles Schwab in a research report on Tuesday, January 17th. Bank of America dropped their price target on shares of Charles Schwab from $53.00 to $51.00 in a research report on Monday, April 17th. Citigroup dropped their price target on shares of Charles Schwab from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, March 29th. The Goldman Sachs Group lowered their price objective on shares of Charles Schwab from $98.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, March 14th. Finally, Piper Sandler decreased their price target on shares of Charles Schwab from $83.00 to $75.00 in a research note on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.21.

Charles Schwab Price Performance

NYSE SCHW opened at $48.94 on Monday. The company has a 50 day simple moving average of $54.08 and a 200-day simple moving average of $70.89. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $86.58 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.42 and a beta of 0.88. Charles Schwab has a 52-week low of $45.00 and a 52-week high of $86.63.

Hedge Funds Weigh In On Charles Schwab

Hedge funds have recently made changes to their positions in the stock. Phocas Financial Corp. bought a new stake in Charles Schwab during the fourth quarter worth $25,000. Ruedi Wealth Management Inc. bought a new position in Charles Schwab in the 4th quarter worth about $33,000. Selway Asset Management bought a new position in Charles Schwab in the 3rd quarter worth about $29,000. WFA of San Diego LLC bought a new position in Charles Schwab in the 4th quarter worth about $34,000. Finally, Sittner & Nelson LLC bought a new position in shares of Charles Schwab during the 4th quarter valued at about $37,000. 73.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, Director Marianne Catherine Brown purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 28th. The shares were acquired at an average price of $53.47 per share, for a total transaction of $267,350.00. Following the purchase, the director now owns 9,984 shares in the company, valued at $533,844.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Marianne Catherine Brown acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, March 28th. The shares were purchased at an average cost of $53.47 per share, with a total value of $267,350.00. Following the acquisition, the director now directly owns 9,984 shares in the company, valued at approximately $533,844.48. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Richard A. Wurster bought 2,000 shares of Charles Schwab stock in a transaction dated Friday, March 17th. The shares were bought at an average cost of $54.39 per share, for a total transaction of $108,780.00. Following the completion of the acquisition, the president now owns 101,391 shares in the company, valued at approximately $5,514,656.49. The disclosure for this purchase can be found here. In the last quarter, insiders bought 81,000 shares of company stock valued at $4,706,960 and sold 59,778 shares valued at $4,670,001. Insiders own 6.60% of the company’s stock.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be given a $0.25 dividend. The ex-dividend date is Thursday, May 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.04%. Charles Schwab’s dividend payout ratio is presently 27.32%.

About Charles Schwab

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The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.