FY2024 EPS Estimates for Charles Schwab Increased by Analyst

The Charles Schwab Co. (NYSE:SCHW) – Research analysts at William Blair increased their FY2024 earnings estimates for Charles Schwab in a research report issued to clients and investors on Monday, January 13th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $3.16 per share for the year, up from their prior estimate of $3.10. The consensus estimate for Charles Schwab’s current full-year earnings is $3.13 per share. William Blair also issued estimates for Charles Schwab’s Q4 2024 earnings at $0.91 EPS, FY2025 earnings at $3.90 EPS and FY2026 earnings at $4.90 EPS.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted $0.77 EPS. The firm’s revenue was up 5.2% on a year-over-year basis.

Several other research analysts have also recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $81.63.

Charles Schwab Trading Up 2.4 %

NYSE SCHW opened at $75.40 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 52 week low of $59.67 and a 52 week high of $83.35. The stock has a market capitalization of $134.19 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.99. The firm has a 50 day moving average of $77.58 and a two-hundred day moving average of $70.60.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.33%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. This represents a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,823 shares of company stock worth $2,171,194 in the last 90 days. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Charles Schwab

Large investors have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Charles Schwab during the 3rd quarter worth $25,000. Washington Trust Advisors Inc. raised its position in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Charles Schwab during the 3rd quarter worth $31,000. Future Financial Wealth Managment LLC acquired a new position in shares of Charles Schwab during the 3rd quarter worth $32,000. Finally, Planning Capital Management Corp acquired a new position in shares of Charles Schwab during the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.