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Charles Schwab Positions For 'More Robust EPS Growth': Analysts Weigh In On Q1 Results

Charles Schwab Corporation (NYSE: SCHW) shares remained volatile in early trading on Tuesday, after the company reported its first-quarter earnings. The results came amid an exciting earnings season. Here are some key analyst takeaways. JPMorgan On Charles Schwab Analyst Kenneth Worthington reiterated an Overweight rating while raising the price target from $86 to $89. Charles Schwab reported its first-quarter earnings at 74 cents per share, “a penny ahead of our expectation, with better net interest income and better cost management,” Worthington said in a note. Expenses were lower in the first quarter, driven mainly by compensation, “as we think business efficiency efforts from late 2023 showed through,” the analyst wrote. “The final part of Ameritrade cost synergies remains on track for 2H24, setting up 2025 for another period of no- to low-expense growth,” he added. Piper Sandler On Charles Schwab Analyst Patrick Moley reiterated an Overweight rating while lifting the price target from $78 to $85. Charles Schwab reported net revenues of $4.74 billion, “with NII, Asset Management, BDA fees & Trading revenues all beating our forecast,” Moley said. The ...