These Analysts Revise Their Forecasts On Charles Schwab After Q3 Results

Charles Schwab Corp. (NYSE:SCHW) on Thursday reported mixed third-quarter results.

Adjusted earnings of $1.69 per share beat the analyst consensus estimate of $1.66. Revenue rose 17% year over year to a record $7.17 billion, versus the consensus estimate of $7.19 billion.

“During the third quarter, clients opened 1.2 million new brokerage accounts and entrusted Schwab with $190.4 billion in core net new assets – an annualized growth rate of 5.8%. We are delivering new capabilities and solutions, while our leading value proposition continues to resonate with investors and RIAs,” President & CEO Rick Wurster said.

Charles Schwab shares fell 0.8% to trade at $93.36 on Friday.

These analysts made changes to their price targets on Charles Schwab following earnings announcement.

• Truist Securities analyst David Smith maintained the stock with a Buy and lowered the price target from $125 to $112.
• Citizens analyst Devin Ryan reiterated the stock with a Market Outperform and maintained a $120 price target.
• TD Cowen analyst Bill Katz reiterated the stock with a Buy and maintained a $129 price target.

Considering buying SCHW stock? Here’s what analysts think:

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