Yahoo Finance Charles Schwab Stock Soars 7.6% on Earnings Beat Expectation
Charles Schwab (NYSE:SCHW), a well-known financial services company in the United States, soars 7.6% today as it is expecting to exceed analysts' expectations for their fourth-quarter earnings. The management said track towards the upper $0.80s range for 4Q24.
Ten analysts have issued EPS forecasts for Schwab, ranging from a high of $3.24 to a low of $2.71, with a median estimate of $2.78. You can find more information about analysts' target expectations for SCHW on GuruFocus' forecast page: SCHW Forecast
Charles Schwab offers a wide range of financial products and services and divides its revenue into two segments; investor services and advisor services. The company is known for its commitment to providing low-cost, commission-free trading services to its customers.
With over $8 trillion of client assets at the end of December 2023 making Schwab one of the largest firms in the investment business in the U.S. In the company's Fall Business Update, Schwab stated NIM should continue to expand even in a lower rate environment influenced by the path of rates and interest-earning asset and liability mix; Balance sheet size will be influenced by trajectory of client cash as well as the pace of pay down of Bank Supplemental Funding.
Charles Schwab's ability to meet or exceed analyst expectations has fluctuated over time, occasionally exceeding expectations and other times falling below them:
Over the past five quarters, Schwab's revenue has beaten analyst estimates three times and missed twice.
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This article first appeared on GuruFocus.
