Q2 2024 EPS Estimates for The Charles Schwab Co. Boosted by William Blair (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) – Research analysts at William Blair boosted their Q2 2024 earnings estimates for Charles Schwab in a note issued to investors 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 earnings results on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The firm’s revenue was down 18.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share.

A number of other brokerages also recently commented on SCHW. Morgan Stanley boosted their target price on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Barclays boosted their price target on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday. TD Cowen boosted their price target on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group restated a “neutral” rating and set a $71.00 price target (up previously from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. Finally, Raymond James dropped their price target on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, January 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $74.47.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $72.50 on Wednesday. The company has a market capitalization of $128.76 billion, a PE ratio of 30.33, a P/E/G ratio of 1.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The company has a 50-day simple moving average of $68.17 and a two-hundred day simple moving average of $62.82. Charles Schwab has a one year low of $45.65 and a one year high of $73.88.

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 1.38%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Activity at Charles Schwab

In related 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 value of $257,960.00. Following the sale, the chief financial officer now owns 37,611 shares in the company, valued at $2,425,533.39. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Charles Schwab 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 value of $257,960.00. Following the sale, the chief financial officer now owns 37,611 shares in the company, valued at approximately $2,425,533.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $70.87, for a total value of $637,830.00. Following the completion of the sale, the director now owns 581,457 shares in the company, valued at approximately $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.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently bought and sold shares of SCHW. Investment Research & Advisory Group Inc. raised its stake in shares of Charles Schwab by 1.0% during the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after buying an additional 607 shares during the period. Bamco Inc. NY raised its stake in shares of Charles Schwab by 0.5% during the 3rd quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after buying an additional 42,588 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Charles Schwab by 43.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock worth $30,287,000 after buying an additional 166,316 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Charles Schwab by 22.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock worth $60,776,000 after buying an additional 160,719 shares during the period. Finally, 180 Wealth Advisors LLC raised its stake in shares of Charles Schwab by 6.1% during the 3rd quarter. 180 Wealth Advisors LLC now owns 32,214 shares of the financial services provider’s stock worth $1,769,000 after buying an additional 1,843 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.