Charles Schwab FY2024 EPS Estimate Boosted by Zacks Research

The Charles Schwab Co. (NYSE:SCHW) – Equities research analysts at Zacks Research upped their FY2024 EPS estimates for Charles Schwab in a research note issued on Thursday, December 19th. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $3.10 per share for the year, up from their prior forecast 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.

SCHW has been the topic of several other research reports. JPMorgan Chase & Co. raised their target price on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price target on shares of Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Raymond James dropped their price target on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and an average target price of $80.50.

Charles Schwab Stock Up 0.5 %

NYSE:SCHW opened at $74.71 on Monday. Charles Schwab has a 52 week low of $59.67 and a 52 week high of $83.35. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $76.77 and its two-hundred day moving average is $70.54. The stock has a market capitalization of $132.96 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96.

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

Charles Schwab Announces Dividend

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

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,968 shares of company stock valued at $8,842,821. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SCHW. Franklin Resources Inc. grew its holdings in shares of Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Darsana Capital Partners LP increased its position in Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after purchasing an additional 2,000,000 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares during the period. AustralianSuper Pty Ltd grew its holdings in shares of Charles Schwab by 2,617.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after acquiring an additional 1,644,931 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in Charles Schwab during the 3rd quarter valued at about $86,845,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.