The Charles Schwab Co. (NYSE:SCHW - Free Report) - Investment analysts at Zacks Research increased their FY2024 EPS estimates for shares of Charles Schwab in a research report issued on Thursday, December 19th. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $3.10 per share for the year, up from their prior estimate of $3.08. The consensus estimate for Charles Schwab's current full-year earnings is $3.12 per share. Zacks Research also issued estimates for Charles Schwab's Q4 2024 earnings at $0.86 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.93 EPS and Q1 2026 earnings at $1.09 EPS.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share.
Other analysts have also issued research reports about the stock. The Goldman Sachs Group upped their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $77.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Cowen upped their target price on Charles Schwab from $69.00 to $75.00 and gave the stock a "hold" rating in a research note on Tuesday, October 15th. Citigroup cut their price objective on Charles Schwab from $75.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, September 27th. Finally, Jefferies Financial Group raised their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $80.50.
View Our Latest Research Report on SCHW
Charles Schwab Price Performance
Shares of SCHW traded up $0.40 during midday trading on Monday, hitting $74.71. 6,859,221 shares of the company traded hands, compared to its average volume of 8,081,420. The stock has a 50-day moving average of $76.77 and a 200-day moving average of $70.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. Charles Schwab has a one year low of $59.67 and a one year high of $83.35. The firm has a market cap of $132.96 billion, a P/E ratio of 29.18, a PEG ratio of 1.76 and a beta of 0.96.
Hedge Funds Weigh In On Charles Schwab
A number of hedge funds and other institutional investors have recently made changes to their positions in SCHW. Franklin Resources Inc. increased its position in Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the period. Darsana Capital Partners LP increased its position in shares of Charles Schwab by 200.0% during the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider's stock valued at $221,070,000 after buying an additional 2,000,000 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider's stock worth $1,858,706,000 after buying an additional 1,711,312 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in Charles Schwab by 2,617.6% in the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider's stock worth $110,681,000 after buying an additional 1,644,931 shares during the period. Finally, Two Sigma Advisers LP purchased a new stake in Charles Schwab in the third quarter worth about $86,845,000. Institutional investors own 84.38% of the company's stock.
Insiders Place Their Bets
In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company's stock, valued at $1,481,838.69. This represents a 11.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company's stock, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,968 shares of company stock valued at $8,842,821 in the last ninety days. Company insiders own 6.60% of the company's stock.
Charles Schwab Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.34%. Charles Schwab's payout ratio is 39.06%.
Charles Schwab Company Profile
(
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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.
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