The Charles Schwab Co. (NYSE:SCHW) Forecasted to Earn Q3 2024 Earnings of $0.73 Per Share

The Charles Schwab Co. (NYSE:SCHW) – Equities researchers at Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for Charles Schwab in a research report issued to clients and investors on Thursday, September 12th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $0.73 for the quarter, down from their previous forecast of $0.74. The consensus estimate for Charles Schwab’s current full-year earnings is $3.05 per share. Zacks Research also issued estimates for Charles Schwab’s FY2024 earnings at $3.02 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $1.07 EPS, FY2025 earnings at $3.87 EPS and Q1 2026 earnings at $1.10 EPS.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research report on Thursday, August 22nd. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $80.00 to $64.00 in a research report on Monday, July 29th. TD Cowen reissued a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Morgan Stanley reduced their price objective on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, Bank of America reduced their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.75.

Charles Schwab Price Performance

SCHW opened at $61.74 on Friday. The stock has a market cap of $109.80 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.19 and a beta of 0.97. Charles Schwab has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $65.55 and a 200 day moving average price of $70.02.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.62%. Charles Schwab’s payout ratio is presently 41.84%.

Insider Transactions at Charles Schwab

In other news, President Richard A. Wurster purchased 10,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was purchased at an average price of $62.05 per share, with a total value of $620,500.00. Following the acquisition, the president now directly owns 144,228 shares in the company, valued at approximately $8,949,347.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Richard A. Wurster bought 10,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was bought at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the acquisition, the president now owns 144,228 shares in the company, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 99,636 shares of company stock worth $6,533,064. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds have recently modified their holdings of SCHW. Price T Rowe Associates Inc. MD raised its holdings in shares of Charles Schwab by 33.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after buying an additional 17,369,091 shares in the last quarter. Norges Bank bought a new stake in Charles Schwab during the 4th quarter worth approximately $950,192,000. Morningstar Investment Services LLC grew its position in Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after acquiring an additional 2,322,156 shares during the last quarter. Darsana Capital Partners LP grew 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 acquiring an additional 2,000,000 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Charles Schwab by 19.7% during the 4th quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock worth $651,722,000 after acquiring an additional 1,558,975 shares during the last quarter. 84.38% of the stock is 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.