Shares of financial services provider The Charles Schwab Corp. (NYSE:SCHW) are sliding at the market open today after the company delivered lower-than-expected fourth-quarter numbers. While revenue jumped 16.6% year-over-year to $5.49 billion, the figure still came in lower than estimates by $60 million. Additionally, EPS at $1.07 too missed the cut by $0.02.
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Nonetheless, shares of the company have gained nearly 31% over the past six months and analysts see a further 18.62% potential upside in the stock. The upside is based on a Strong Buy consensus rating and an average price target of $95.45 for SCHW stock.
For the full year 2022, the company’s top line grew by 12% to $20.8 billion and EPS increased to $3.90. Further, SCHW added four million new customer accounts during this period. Total client assets with the company at the end of the year stood at an impressive $7.05 trillion.
Additionally, SCHW continues to create value for shareholders and bought back 47 million shares worth $3.4 billion in 2022.
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