SCHW - Charles Schwab Analysts See 'Choppy Path' For Bank After Q2 Earnings: 'We Are Not Yet Seeing The Light At The End Of The Tunnel' | Benzinga
Charles Schwab Corp (NYSE:SCHW) is under pressure Wednesday after the investing giant warned it will need to become smaller in an effort to protect profitability. Analysts are cutting estimates as a result.
What To Know: Before the market open on Tuesday, Schwab reported second-quarter revenue of $4.69 billion, beating analyst estimates of $4.68 billion. The company also turned in adjusted earnings of 73 cents per share, beating estimates of 72 cents per share, per Benzinga Pro.
Following the print, JPMorgan analyst Kenneth Worthington cut the firm’s price target from $82 to $78 on lower 2025 adjusted earnings expectations. The analyst previously forecasted full-year earnings of $4.81 per share, but now anticipates $4.57 per share.
“While the headline results were largely in line, underlying trends across net new asset growth, interest earning assets, the lack of short-term funding paydown, and ...