Zacks Research Weighs in on The Charles Schwab Co.’s Q2 2024 Earnings (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) – Investment analysts at Zacks Research dropped their Q2 2024 earnings per share (EPS) estimates for Charles Schwab in a research report issued to clients and investors on Monday, May 6th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $0.77 for the quarter, down from their prior estimate of $0.78. The consensus estimate for Charles Schwab’s current full-year earnings is $3.42 per share. Zacks Research also issued estimates for Charles Schwab’s Q4 2024 earnings at $0.91 EPS, FY2025 earnings at $4.31 EPS, Q1 2026 earnings at $1.22 EPS and FY2026 earnings at $5.11 EPS.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Barclays upped their target price on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley upped their price objective on shares of Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average target price of $74.47.

Charles Schwab Trading Up 1.1 %

Shares of SCHW opened at $76.40 on Thursday. Charles Schwab has a 12 month low of $46.55 and a 12 month high of $77.05. The stock’s 50-day moving average is $71.20 and its two-hundred day moving average is $65.15. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $135.68 billion, a PE ratio of 31.96, a P/E/G ratio of 1.11 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.71 billion.

Institutional Trading of Charles Schwab

A number of large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 33.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after purchasing an additional 17,369,091 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Charles Schwab by 4.1% during 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 buying an additional 1,219,015 shares during the period. Fisher Asset Management LLC raised its position in shares of 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 worth $1,281,584,000 after buying an additional 296,317 shares in the last quarter. Invesco Ltd. raised its position in shares of Charles Schwab by 3.3% during the 3rd quarter. Invesco Ltd. now owns 15,560,924 shares of the financial services provider’s stock worth $854,295,000 after buying an additional 502,304 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Charles Schwab by 2.3% in the third quarter. Northern Trust Corp now owns 15,550,474 shares of the financial services provider’s stock valued at $853,721,000 after acquiring an additional 356,112 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 24,520 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total value of $1,771,079.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the completion of the transaction, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total value of $1,771,079.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 659,587 shares of company stock valued at $47,399,731. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.25 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

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.