Zacks Research Boosts Earnings Estimates for Charles Schwab

The Charles Schwab Co. (NYSE:SCHW) – Equities researchers at Zacks Research boosted their FY2024 EPS estimates for shares of Charles Schwab in a report released on Thursday, December 19th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $3.10 for the year, up from their previous estimate 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.

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

A number of other analysts have also weighed in on SCHW. Cowen upped their price objective on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Citigroup reduced their price target 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. Jefferies Financial Group boosted their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $74.00 to $95.00 in a report on Monday, December 9th. Finally, JMP Securities reiterated a “market outperform” rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.50.

Charles Schwab Trading Up 0.2 %

Shares of SCHW stock opened at $74.84 on Monday. The stock has a market capitalization of $133.19 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. Charles Schwab has a fifty-two week low of $59.67 and a fifty-two week high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a 50 day moving average price of $76.91 and a 200 day moving average price of $70.55.

Institutional Investors Weigh In On Charles Schwab

Institutional investors have recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC lifted its holdings in shares of Charles Schwab by 2.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 142 shares in the last quarter. GS Investments Inc. lifted its stake in shares of Charles Schwab by 0.3% during the third quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock worth $3,722,000 after purchasing an additional 146 shares in the last quarter. Washington Trust Advisors Inc. boosted its position in shares of Charles Schwab by 62.6% in the third 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 period. Arcataur Capital Management LLC raised its holdings in shares of Charles Schwab by 2.3% during the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after buying an additional 150 shares during the period. Finally, Tandem Capital Management Corp ADV lifted its position in Charles Schwab by 0.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,968 shares of company stock valued at $8,842,821 over the last quarter. Insiders own 6.60% of the company’s stock.

Charles Schwab Announces Dividend

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

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.