William Blair Brokers Decrease Earnings Estimates for The Charles Schwab Co. (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) – Stock analysts at William Blair cut their Q3 2024 earnings per share (EPS) estimates for shares of Charles Schwab in a research report issued to clients and investors on Monday, October 14th. William Blair analyst J. Schmitt now forecasts that the financial services provider will earn $0.73 per share for the quarter, down from their previous forecast of $0.76. The consensus estimate for Charles Schwab’s current full-year earnings is $3.06 per share. William Blair also issued estimates for Charles Schwab’s FY2024 earnings at $3.06 EPS, FY2025 earnings at $3.70 EPS and FY2026 earnings at $4.50 EPS.

A number of other research firms have also weighed in on SCHW. JMP Securities raised their price objective on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday. Citigroup reduced their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. TD Cowen reaffirmed 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. UBS Group reduced their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Bank of America reduced their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.59.

Charles Schwab Trading Up 0.2 %

SCHW opened at $72.08 on Wednesday. The stock has a market cap of $128.11 billion, a PE ratio of 30.16, a PEG ratio of 1.43 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average of $64.61 and a 200-day moving average of $69.51. Charles Schwab has a 52 week low of $48.66 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Buying and Selling at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the transaction, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,856 shares of company stock valued at $6,398,604. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Institutional investors and hedge funds have recently modified their holdings of the business. Nelson Capital Management LLC lifted its holdings in Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after acquiring an additional 141 shares during the last quarter. Abbrea Capital LLC lifted its stake in shares of Charles Schwab by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 142 shares during the last quarter. Alliance Wealth Advisors LLC lifted its stake in shares of Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 142 shares during the last quarter. Ironwood Financial llc lifted its stake in shares of Charles Schwab by 1.6% in the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 160 shares during the last quarter. Finally, Ascent Wealth Partners LLC lifted its stake in shares of Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.