Charles Schwab's Near-Term Hurdles Expected To Fade, Brighter 2024/2025 Horizon Anticipated: Analysts
Portfolio Pulse from Shivani Kumaresan
Charles Schwab Corp (NYSE:SCHW) reported a Q3 net revenue decline of 16% Y/Y to $4.61 billion, missing the consensus estimate of $4.63 billion. Adjusted EPS of $0.77 beat the analyst consensus of $0.75. Analysts from JMP Securities, Keefe, Bruyette & Woods (KBW), and Raymond James gave their opinions of the results, maintaining Outperform ratings and adjusting price targets. Despite near-term challenges, analysts agree with management’s sentiment that a “higher for longer” scenario could be positive for Schwab over time.
October 17, 2023 | 4:58 pm
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Charles Schwab's Q3 results missed revenue estimates but beat EPS consensus. Analysts maintain Outperform ratings and see a brighter horizon in 2024/2025 despite near-term challenges.
Charles Schwab's Q3 results showed a decline in net revenue, which missed estimates. However, the company beat the EPS consensus. Analysts from JMP Securities, KBW, and Raymond James maintained Outperform ratings and adjusted their price targets. Despite near-term challenges, they agree with the company's management that a 'higher for longer' scenario could be positive for Schwab over time. This could potentially lead to a brighter horizon in 2024/2025.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100