The Charles Schwab Co. (NYSE:SCHW) Forecasted to Post Q2 2024 Earnings of $0.72 Per Share

The Charles Schwab Co. (NYSE:SCHW) – William Blair lowered their Q2 2024 earnings per share (EPS) estimates for shares of Charles Schwab in a research report issued on Wednesday, July 10th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings per share of $0.72 for the quarter, down from their previous forecast of $0.76. The consensus estimate for Charles Schwab’s current full-year earnings is $3.21 per share. William Blair also issued estimates for Charles Schwab’s Q3 2024 earnings at $0.83 EPS, Q4 2024 earnings at $0.88 EPS, FY2024 earnings at $3.18 EPS and FY2025 earnings at $4.25 EPS.

SCHW has been the subject of several other reports. Bank of America lifted their price objective on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 16th. Jefferies Financial Group upped their price objective on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 8th. TD Cowen reduced their price objective on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Keefe, Bruyette & Woods raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $76.00 to $84.00 in a research note on Monday, July 8th. Finally, Morgan Stanley cut their price target on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.75.

Charles Schwab Stock Performance

Shares of SCHW opened at $75.38 on Thursday. Charles Schwab has a 12-month low of $48.66 and a 12-month high of $79.49. The stock has a market cap of $133.97 billion, a P/E ratio of 31.54, a PEG ratio of 1.17 and a beta of 0.99. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average of $74.30 and a two-hundred day moving average of $70.18.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Buying and Selling at Charles Schwab

In related news, CFO Peter B. Crawford sold 5,481 shares of Charles Schwab stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $75.51, for a total transaction of $413,870.31. Following the sale, the chief financial officer now owns 60,567 shares of the company’s stock, valued at approximately $4,573,414.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Peter B. Crawford sold 5,481 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.51, for a total value of $413,870.31. Following the completion of the sale, the chief financial officer now owns 60,567 shares of the company’s stock, valued at approximately $4,573,414.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 10,000 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $72.40, for a total value of $724,000.00. Following the completion of the transaction, the insider now owns 71,446 shares of the company’s stock, valued at $5,172,690.40. The disclosure for this sale can be found here. Insiders sold 658,663 shares of company stock valued at $48,997,146 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after acquiring an additional 2,946,327 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Charles Schwab by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after purchasing an additional 1,219,015 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after purchasing an additional 296,317 shares during the period. Finally, Norges Bank bought a new position in Charles Schwab in the 4th quarter worth about $950,192,000. 84.38% of the stock is currently owned by institutional investors.

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.