The Charles Schwab Corp. (NYSE:SCHW) announced its Q1 results, with net revenues of $4.7 billion, marking a decline of 7% year-over-year compared to consensus estimates of $4.74 billion.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Moreover, Schwab reported adjusted earnings of $0.74 per share, compared to $0.93 per share in the same period last year. For reference, analysts were expecting earnings of $0.75 per share.
The financial services company saw its trading volumes rise by 15% quarter-over-quarter in Q1. Additionally, the company had core net new assets worth $96 billion at the end of Q1. However, Charles Schwab’s net interest revenues declined by 19.5% year-over-year to $2.23 billion in Q1.
Is Charles Schwab a Good Stock to Buy Now?
Analysts are cautiously optimistic about SCHW stock, with a Moderate Buy consensus rating based on nine Buys, five Holds, and one Sell. Over the past year, SCHW has increased by more than 30%, and the average SCHW price target of $74.07 implies an upside potential of 5.7% from current levels. These analyst ratings are likely to change following SCHW’s Q1 earnings today.
