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The Charles Schwab Corporation (SCHW) Soars 7.0%: Is Further Upside Left in the Stock?
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The Charles Schwab Corporation (SCHW - Free Report) shares ended the last trading session 7% higher at $70.94. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 18.2% gain over the past four weeks.
Shares of Charles Schwab soared for the third straight day. The release of its monthly activity report for November 2023 showed robust improvement in net new assets balance for November 2023. Also, a broader market rally on the back of the Federal Reserve’s signal of rate cuts by 2024-end drove the SCHW stock higher.
This company is expected to post quarterly earnings of $0.70 per share in its upcoming report, which represents a year-over-year change of -34.6%. Revenues are expected to be $4.65 billion, down 15.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For The Charles Schwab Corporation, the consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SCHW going forward to see if this recent jump can turn into more strength down the road.
The Charles Schwab Corporation is part of the Zacks Financial - Investment Bank industry. Raymond James Financial, Inc. (RJF - Free Report) , another stock in the same industry, closed the last trading session 2.9% higher at $110.88. RJF has returned 3.6% in the past month.
Raymond James Financial, Inc.'s consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $2.23. Compared to the company's year-ago EPS, this represents a change of -2.6%. Raymond James Financial, Inc. currently boasts a Zacks Rank of #4 (Sell).
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The Charles Schwab Corporation (SCHW) Soars 7.0%: Is Further Upside Left in the Stock?
The Charles Schwab Corporation (SCHW - Free Report) shares ended the last trading session 7% higher at $70.94. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 18.2% gain over the past four weeks.
Shares of Charles Schwab soared for the third straight day. The release of its monthly activity report for November 2023 showed robust improvement in net new assets balance for November 2023. Also, a broader market rally on the back of the Federal Reserve’s signal of rate cuts by 2024-end drove the SCHW stock higher.
This company is expected to post quarterly earnings of $0.70 per share in its upcoming report, which represents a year-over-year change of -34.6%. Revenues are expected to be $4.65 billion, down 15.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For The Charles Schwab Corporation, the consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SCHW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
The Charles Schwab Corporation is part of the Zacks Financial - Investment Bank industry. Raymond James Financial, Inc. (RJF - Free Report) , another stock in the same industry, closed the last trading session 2.9% higher at $110.88. RJF has returned 3.6% in the past month.
Raymond James Financial, Inc.'s consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $2.23. Compared to the company's year-ago EPS, this represents a change of -2.6%. Raymond James Financial, Inc. currently boasts a Zacks Rank of #4 (Sell).