Q3 EPS Estimates for Charles Schwab Lowered by William Blair

The Charles Schwab Co. (NYSE:SCHW) – William Blair decreased their Q3 2024 earnings per share estimates for shares of Charles Schwab in a report released on Monday, October 14th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings per share of $0.73 for the quarter, down from their previous estimate 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.

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

Several other research analysts also recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday. Raymond James decreased their target price on Charles Schwab from $76.00 to $73.00 in a report on Tuesday. Cowen boosted their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday. TD Cowen reissued a “hold” rating and issued a $71.00 target price (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, JMP Securities lifted their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research note on Wednesday. Two 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.59.

Charles Schwab Stock Down 0.2 %

SCHW stock opened at $71.90 on Wednesday. The company has a market cap of $127.87 billion, a price-to-earnings ratio of 29.83, a P/E/G ratio of 1.47 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The business’s 50-day moving average is $64.80 and its two-hundred day moving average is $69.53. Charles Schwab has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.39%. Charles Schwab’s dividend payout ratio is currently 41.49%.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now owns 61,887 shares in the company, valued at approximately $4,035,032.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the sale, the insider now owns 61,887 shares in the company, valued at approximately $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,201 shares of company stock valued at $10,362,224 over the last ninety days. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH purchased a new stake in shares of Charles Schwab in the 1st quarter worth $237,000. Rise Advisors LLC lifted its holdings in shares of Charles Schwab by 4,025.0% in the 1st quarter. Rise Advisors LLC now owns 825 shares of the financial services provider’s stock worth $60,000 after buying an additional 805 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Charles Schwab by 18.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 4,621 shares of the financial services provider’s stock worth $334,000 after buying an additional 716 shares during the period. Collective Family Office LLC lifted its holdings in shares of Charles Schwab by 29.3% in the 1st quarter. Collective Family Office LLC now owns 4,069 shares of the financial services provider’s stock worth $294,000 after buying an additional 923 shares during the period. Finally, Clearview Wealth Advisors LLC purchased a new stake in shares of Charles Schwab in the 1st quarter worth $344,000. 84.38% of the stock is currently owned by 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.