Charles Schwab Analysts See 'Choppy Path' For Bank After Q2 Earnings: 'We Are Not Yet Seeing The Light At The End Of The Tunnel'
Portfolio Pulse from Adam Eckert
Charles Schwab Corp (NYSE:SCHW) reported Q2 earnings that slightly beat analyst estimates, but the company faces challenges including disappointing underlying trends and a need to become smaller to protect profitability. Analysts from JPMorgan and Goldman Sachs have cut their price targets and EPS estimates, citing concerns over net new asset growth, interest-earning assets, and elevated deposit outflows.
July 17, 2024 | 3:21 pm
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Charles Schwab reported Q2 earnings that slightly beat estimates, but underlying trends were disappointing. Analysts from JPMorgan and Goldman Sachs cut price targets and EPS estimates, citing concerns over net new asset growth, interest-earning assets, and elevated deposit outflows. Shares are down 6.20%.
Despite beating Q2 earnings estimates, Charles Schwab faces significant challenges including disappointing underlying trends and elevated deposit outflows. Analysts have cut price targets and EPS estimates, leading to a 6.20% drop in share price. The need to become smaller to protect profitability adds to investor concerns.
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IMPORTANCE 90
RELEVANCE 100