The Charles Schwab Co. (NYSE:SCHW) Expected to Earn Q3 2022 Earnings of $1.03 Per Share

The Charles Schwab Co. (NYSE:SCHWGet Rating) – Stock analysts at Jefferies Financial Group raised their Q3 2022 earnings per share (EPS) estimates for Charles Schwab in a research note issued on Monday, September 19th. Jefferies Financial Group analyst D. Fannon now anticipates that the financial services provider will earn $1.03 per share for the quarter, up from their previous forecast of $0.99. Jefferies Financial Group has a “Buy” rating and a $86.00 price target on the stock. The consensus estimate for Charles Schwab’s current full-year earnings is $3.91 per share. Jefferies Financial Group also issued estimates for Charles Schwab’s Q1 2023 earnings at $1.18 EPS, Q2 2023 earnings at $1.25 EPS, Q3 2023 earnings at $1.28 EPS and Q4 2023 earnings at $1.34 EPS.

Charles Schwab (NYSE:SCHWGet Rating) last announced its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. Charles Schwab had a return on equity of 16.82% and a net margin of 33.09%. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Charles Schwab’s revenue was up 12.5% compared to the same quarter last year.

Several other brokerages have also recently issued reports on SCHW. Morgan Stanley dropped their target price on Charles Schwab from $98.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, August 1st. Barclays initiated coverage on Charles Schwab in a research report on Wednesday, August 31st. They set an “equal weight” rating and a $81.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $90.00 to $95.00 in a research report on Friday, August 19th. Redburn Partners initiated coverage on Charles Schwab in a research report on Thursday, June 23rd. They set a “neutral” rating on the stock. Finally, UBS Group increased their target price on Charles Schwab from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, September 16th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $91.46.

Charles Schwab Stock Down 0.5 %

Shares of NYSE SCHW opened at $73.35 on Wednesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $133.33 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07. The stock’s fifty day simple moving average is $69.64 and its two-hundred day simple moving average is $71.43. Charles Schwab has a 12-month low of $59.35 and a 12-month high of $96.24.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were given a $0.22 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.20%. Charles Schwab’s dividend payout ratio (DPR) is presently 28.95%.

Insider Buying and Selling

In related news, Chairman Charles R. Schwab sold 120,000 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total value of $7,524,000.00. Following the completion of the transaction, the chairman now owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jonathan M. Craig sold 8,032 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $75.00, for a total value of $602,400.00. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at approximately $301,425. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 120,000 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total value of $7,524,000.00. Following the completion of the transaction, the chairman now owns 71,083,305 shares of the company’s stock, valued at approximately $4,456,923,223.50. The disclosure for this sale can be found here. Insiders sold 277,632 shares of company stock worth $17,904,256 in the last 90 days. Insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors have recently modified their holdings of SCHW. SBK Financial Inc. purchased a new position in shares of Charles Schwab during the 4th quarter valued at about $25,000. Jones Financial Companies Lllp purchased a new position in shares of Charles Schwab during the 2nd quarter valued at about $26,000. Princeton Global Asset Management LLC raised its stake in shares of Charles Schwab by 104.5% during the 1st quarter. Princeton Global Asset Management LLC now owns 321 shares of the financial services provider’s stock valued at $27,000 after buying an additional 164 shares during the last quarter. Heritage Financial Services LLC purchased a new position in shares of Charles Schwab during the 2nd quarter valued at about $28,000. Finally, Roble Belko & Company Inc purchased a new position in shares of Charles Schwab during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Charles Schwab Company Profile

(Get Rating)

The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.

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Earnings History and Estimates for Charles Schwab (NYSE:SCHW)

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