The Charles Schwab Co. Forecasted to Earn Q3 2023 Earnings of $0.87 Per Share (NYSE:SCHW)

Posted by Defense World Staff on May 24th, 2023

The Charles Schwab Co. (NYSE:SCHW – Get Rating) – William Blair decreased their Q3 2023 EPS estimates for shares of Charles Schwab in a research note issued to investors on Tuesday, May 23rd. William Blair analyst J. Schmitt now forecasts that the financial services provider will earn $0.87 per share for the quarter, down from their previous estimate of $0.88. The consensus estimate for Charles Schwab’s current full-year earnings is $3.35 per share. William Blair also issued estimates for Charles Schwab’s Q4 2023 earnings at $0.98 EPS, FY2023 earnings at $3.63 EPS and FY2024 earnings at $4.61 EPS.

Charles Schwab (NYSE:SCHW – Get Rating) last released its quarterly earnings data on Monday, April 17th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.03. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.13 billion. Charles Schwab had a net margin of 34.82% and a return on equity of 27.83%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS.

Other research analysts have also issued research reports about the stock. Citigroup dropped their price target on shares of Charles Schwab from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 29th. The Goldman Sachs Group dropped their price target on shares of Charles Schwab from $98.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, March 14th. UBS Group dropped their price target on shares of Charles Schwab from $70.00 to $65.00 in a research note on Tuesday, April 18th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charles Schwab from $75.00 to $72.00 in a research note on Tuesday, April 18th. Finally, Bank of America dropped their price target on shares of Charles Schwab from $53.00 to $51.00 in a research note on Monday, April 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average price target of $68.73.

Charles Schwab Stock Performance

Shares of SCHW opened at $52.79 on Wednesday. The company’s fifty day moving average is $52.07 and its 200-day moving average is $69.53. Charles Schwab has a 12 month low of $45.00 and a 12 month high of $86.63. The firm has a market cap of $93.39 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 2.67 and a beta of 0.88. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.74.

Hedge Funds Weigh In On Charles Schwab

Institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in Charles Schwab by 19.1% during the 4th quarter. Fifth Third Bancorp now owns 203,986 shares of the financial services provider’s stock valued at $16,984,000 after purchasing an additional 32,653 shares during the last quarter. Weatherly Asset Management L. P. acquired a new stake in Charles Schwab in the 4th quarter valued at about $205,000. ProShare Advisors LLC increased its position in Charles Schwab by 1.7% in the 4th quarter. ProShare Advisors LLC now owns 325,162 shares of the financial services provider’s stock valued at $27,073,000 after acquiring an additional 5,432 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in Charles Schwab in the 3rd quarter valued at about $233,000. Finally, Condor Capital Management increased its position in Charles Schwab by 0.5% in the 3rd quarter. Condor Capital Management now owns 52,887 shares of the financial services provider’s stock valued at $3,801,000 after acquiring an additional 241 shares in the last quarter. 73.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Bernard J. Clark acquired 5,000 shares of Charles Schwab stock in a transaction dated Friday, March 17th. The stock was bought at an average cost of $54.83 per share, with a total value of $274,150.00. Following the acquisition, the insider now owns 120,653 shares of the company’s stock, valued at $6,615,403.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Charles Schwab news, President Richard A. Wurster acquired 2,000 shares of Charles Schwab stock in a transaction dated Friday, March 17th. The stock was bought at an average cost of $54.39 per share, with a total value of $108,780.00. Following the acquisition, the president now owns 101,391 shares of the company’s stock, valued at $5,514,656.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bernard J. Clark purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were purchased at an average cost of $54.83 per share, with a total value of $274,150.00. Following the completion of the acquisition, the insider now directly owns 120,653 shares in the company, valued at $6,615,403.99. The disclosure for this purchase can be found here. Insiders purchased a total of 81,000 shares of company stock valued at $4,706,960 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 will be paid on Friday, May 26th. Shareholders of record on Friday, May 12th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, May 11th. Charles Schwab’s dividend payout ratio (DPR) is presently 27.32%.

Charles Schwab Company Profile

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The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.