Q3 2024 EPS Estimates for The Charles Schwab Co. (NYSE:SCHW) Lowered by Zacks Research

The Charles Schwab Co. (NYSE:SCHW) – Stock analysts at Zacks Research reduced their Q3 2024 earnings per share estimates for shares of Charles Schwab in a report issued on Wednesday, August 7th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $0.74 per share for the quarter, down from their previous estimate of $0.76. The consensus estimate for Charles Schwab’s current full-year earnings is $3.07 per share. Zacks Research also issued estimates for Charles Schwab’s Q4 2024 earnings at $0.82 EPS, FY2024 earnings at $3.04 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $1.01 EPS, Q4 2025 earnings at $1.08 EPS, FY2025 earnings at $3.94 EPS, Q1 2026 earnings at $1.12 EPS, Q2 2026 earnings at $1.18 EPS and FY2026 earnings at $4.77 EPS.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the previous year, the business posted $0.75 earnings per share. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis.

Other equities analysts also recently issued reports about the company. JMP Securities decreased their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Morgan Stanley lowered their target price on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. UBS Group cut their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Finally, Bank of America reduced their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $74.27.

Charles Schwab Price Performance

Shares of NYSE SCHW traded down $0.12 during trading on Thursday, hitting $62.41. 4,255,160 shares of the company were exchanged, compared to its average volume of 13,392,225. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $110.92 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.18 and a beta of 0.99. The firm’s fifty day moving average price is $70.07 and its 200 day moving average price is $69.93. Charles Schwab has a 1 year low of $48.66 and a 1 year high of $79.49.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SCHW. Morningstar Investment Services LLC boosted its holdings in Charles Schwab by 98.0% in the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after acquiring an additional 2,322,156 shares during the last quarter. Brown Advisory Inc. boosted its position in Charles Schwab by 24.3% during the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after acquiring an additional 857,734 shares during the last quarter. M&G Plc acquired a new stake in Charles Schwab during the 1st quarter worth about $11,452,000. Allspring Global Investments Holdings LLC raised its position in shares of Charles Schwab by 22.2% in 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 acquiring an additional 160,719 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of Charles Schwab by 13.0% in the 4th quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after purchasing an additional 152,967 shares during the period. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 65,360 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.89, for a total transaction of $5,025,530.40. Following the sale, the chairman now directly owns 60,741,536 shares of the company’s stock, valued at $4,670,416,703.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 65,360 shares of Charles Schwab stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.89, for a total transaction of $5,025,530.40. Following the completion of the transaction, the chairman now directly owns 60,741,536 shares of the company’s stock, valued at $4,670,416,703.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the transaction, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 247,271 shares of company stock valued at $17,567,508. Insiders own 6.60% of the company’s stock.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.60%. Charles Schwab’s payout ratio is presently 41.84%.

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.