Charles Schwab FY2024 EPS Estimate Lifted by Zacks Research

The Charles Schwab Co. (NYSE:SCHW) – Investment analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of Charles Schwab in a research report issued on Thursday, December 19th. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $3.10 per share for the year, up from their previous forecast of $3.08. The consensus estimate for Charles Schwab’s current full-year earnings is $3.12 per share. Zacks Research also issued estimates for Charles Schwab’s Q4 2024 earnings at $0.86 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.93 EPS and Q1 2026 earnings at $1.09 EPS.

SCHW has been the subject of a number of other research reports. Wells Fargo & Company lifted their price target on Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Citigroup dropped their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday. JMP Securities restated a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Raymond James cut their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $80.50.

Charles Schwab Trading Up 0.5 %

NYSE:SCHW opened at $74.71 on Monday. The company has a market capitalization of $132.96 billion, a P/E ratio of 29.18, a PEG ratio of 1.76 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. Charles Schwab has a 12 month low of $59.67 and a 12 month high of $83.35. The firm has a fifty day simple moving average of $76.77 and a 200-day simple moving average of $70.54.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its position in shares of Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the last quarter. Darsana Capital Partners LP boosted its holdings in Charles Schwab by 200.0% in the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after purchasing an additional 2,000,000 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after buying an additional 1,711,312 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after buying an additional 1,644,931 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Charles Schwab during the 3rd quarter worth approximately $86,845,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares in the company, valued at approximately $39,783,900.64. The trade was a 5.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,968 shares of company stock valued at $8,842,821. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Charles Schwab’s dividend payout ratio is currently 39.06%.

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.