Charles Schwab Corporation stock’s latest quarterly earnings report for the period ending June 2023, reported an EPS of $0.75 for the period ending June 2023, beating the analysts’ estimate of $0.707 by 6.04%. The SCHW next quarter’s revenue is estimated to be $4.639 Billion and an estimated EPS of $0.741. The report will be released on October 16th, 2023.
The SCHW stock also displayed a revenue of $6.47 Billion, with a net income of $1.29 Billion, and a loss in profit margin from the last quarter of 20.00%. This quarter, the SCHW reported revenue exceeded analysts’ estimates by $45.973 Million (1.00%).
SCHW stock’s latest quarterly balance sheet for the period ending June 2023 reported its debt-to-assets ratio is at 92.74%. Also, the SCHW total assets of $511.50 Billion, and total liabilities of $474.36 Billion.
Even though investors have made a lot of profit from the SCHW stock, the dividend amount has shown that the company is financially and fundamentally healthy, as it has increased from $0.46 to $0.84 in the past five years.
The SCHW stock’s dividend yield for the TTM is 1.88% and its last dividend payment was 0.25 per share. The SCHW last ex-dividend date was August 10th, 2023 and its payout ratio is 27.31%.
SCHW’s dividend payments are covered by earnings and cash flows which is a positive sign for its dividend safety and sustainability. A low dividend payout ratio indicates that the SCHW stock is confident in its future prospects and has enough cash flow to reinvest in its business.
SCHW Stock Price Technical Analysis in 1-D Timeframe
The SCHW stock’s average volume for the last 10 days is 8.992 Million and its current volume is 12.48 Million. The SCHW stock has a CMP of $51.33 and an intraday loss of 0.35%. The SCHW stock has a float of 1.658 Billion shares and a market cap of $93.478 Billion.
At the time of publishing, the price of Charles Schwab Corporation (NYSE: SCHW) took support and approached 20 EMA. Therefore, if more buying volume assists the SCHW price in surging upwards, the stock may surpass major rejecting levels and EMA’s and may boost for making new highs.
The MACD indicates an upcoming bullish cross and shows bullishness in SCHW stock as both lines are narrowing on each other in the MACD tool. The RSI is at 29.37 and the curve approaches 14 SMA and may soon jump over 14 SMA. The indicators in the SCHW stock show bullish signs on the charts.
In addition, the stock ratings for SCHW stock are positive and highly recommended based on 22 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for SCHW stock by 18 analysts range between $52.00 to $92.00.
According to the Charles Schwab Corporation (NYSE: SCHW) stock’s price action that was displayed on its chart, the SCHW stock price started surging upwards from the $28 support level in March 2020. It reached a high of $96 in February 2020, by forming an uptrend.
However, this uptrend got disturbed and the SCHW stock price faced resistance and started to fall by making lower lows and highs as investors pulled out their profits from multiple quarterly reports and dividends, and this continuous fall from the last two years showed poor performance on the chart.
Conversely, the stock has shown recovery traits as the SCHW price took support and stopped making new lows at a vital level of around $46 on the charts in May 2023. Moreover, at the time of publishing, it is observed that SCHW has been following trendline support and rising.
Therefore, if the Charles Schwab stock manages to gain strong buying momentum and surges above the previous swing high, it can shoot a rally upwards. The probable resistance levels are between $60 and $70.
Alternatively, if the SCHW stock faces resistance again and continues to fall and breaks below $46, it could touch $37.
Summary
Charles Schwab Corporation (NYSE: SCHW) chart indicates that the traders and investors of the share price are bullish and positive on the 1-D timeframe. The price action shows a bullish outlook at the time of publishing. The technical analysis tools of the Charles Schwab Corporation stock price highlights upward signals and support bullishness.
Technical Levels
Support Levels: $46 and $37
Resistance Levels: $60 and $70
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/10/14/schw-stock-forecast-can-nyse-schw-thrust-70-before-december/