The Charles Schwab Co. (NYSE:SCHW) to Post Q2 2024 Earnings of $0.82 Per Share, William Blair Forecasts

The Charles Schwab Co. (NYSE:SCHW) – Analysts at William Blair lifted their Q2 2024 EPS estimates for shares of Charles Schwab in a report released on Wednesday, April 10th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings per share of $0.82 for the quarter, up from their prior estimate of $0.80. The consensus estimate for Charles Schwab’s current full-year earnings is $3.40 per share. William Blair also issued estimates for Charles Schwab’s Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.91 EPS and FY2024 earnings at $3.35 EPS.

Several other brokerages also recently issued reports on SCHW. Citigroup raised their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays raised their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Piper Sandler raised their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Morgan Stanley raised their price objective on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.53.

Charles Schwab Trading Down 0.8 %

NYSE SCHW opened at $70.03 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The firm’s fifty day moving average price is $67.57 and its 200 day moving average price is $62.50. The company has a market capitalization of $124.38 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. Charles Schwab has a 12 month low of $45.65 and a 12 month high of $72.97.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The company’s revenue was down 18.9% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 annualized dividend and a yield of 1.43%. Charles Schwab’s dividend payout ratio is currently 39.37%.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Charles R. Schwab sold 71,226 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the completion of the sale, the chairman now directly owns 61,251,038 shares in the company, valued at $3,980,704,959.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following the completion of the transaction, the chief financial officer now directly owns 37,611 shares in the company, valued at $2,425,533.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 71,226 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the completion of the transaction, the chairman now 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. Insiders sold a total of 216,584 shares of company stock worth $14,200,769 over the last ninety days. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Main Street Group LTD bought a new position in Charles Schwab during the 4th quarter valued at $29,000. Sugarloaf Wealth Management LLC boosted its stake in Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 165 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Charles Schwab in the 4th quarter worth about $30,000. Wetzel Investment Advisors Inc. bought a new position in shares of Charles Schwab in the 4th quarter worth about $31,000. Finally, Hall Laurie J Trustee bought a new position in shares of Charles Schwab in the 4th quarter worth about $34,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

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.