The Charles Schwab Co. to Post Q2 2024 Earnings of $0.77 Per Share, Zacks Research Forecasts (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) – Equities research analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for Charles Schwab in a note issued to investors on Monday, May 6th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $0.77 per share for the quarter, down from their previous forecast of $0.78. The consensus estimate for Charles Schwab’s current full-year earnings is $3.42 per share. Zacks Research also issued estimates for Charles Schwab’s Q4 2024 earnings at $0.91 EPS, FY2025 earnings at $4.31 EPS, Q1 2026 earnings at $1.22 EPS and FY2026 earnings at $5.11 EPS.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.71 billion.

A number of other analysts also recently commented on SCHW. Bank of America increased their price objective on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Citigroup upped their price target on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Raymond James cut their target price on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and an average target price of $74.47.

Charles Schwab Stock Down 0.9 %

NYSE:SCHW opened at $75.44 on Thursday. The company has a market cap of $133.99 billion, a PE ratio of 31.56, a P/E/G ratio of 1.11 and a beta of 0.98. Charles Schwab has a twelve month low of $46.55 and a twelve month high of $77.05. The company’s 50 day moving average is $71.42 and its two-hundred day moving average is $65.23. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82.

Institutional Trading of Charles Schwab

Institutional investors and hedge funds have recently made changes to their positions in the company. Providence Capital Advisors LLC purchased a new position in shares of Charles Schwab during the 3rd quarter valued at $28,000. Sugarloaf Wealth Management LLC boosted its stake in Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after buying an additional 165 shares during the period. Frazier Financial Advisors LLC bought a new position in Charles Schwab in the 4th quarter worth about $30,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Charles Schwab in the 4th quarter valued at about $31,000. Finally, Tributary Capital Management LLC bought a new stake in shares of Charles Schwab during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 58,500 shares of Charles Schwab stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total value of $3,779,100.00. Following the transaction, the chairman now owns 61,192,538 shares in the company, valued at $3,953,037,954.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Charles R. Schwab sold 58,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $64.60, for a total transaction of $3,779,100.00. Following the completion of the transaction, the chairman now owns 61,192,538 shares of the company’s stock, valued at $3,953,037,954.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 71,226 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.99, for a total value of $4,628,977.74. Following the transaction, the chairman now directly owns 61,251,038 shares of the company’s stock, valued at $3,980,704,959.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 659,587 shares of company stock valued at $47,399,731. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

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.