Charles Schwab stock dropped after reporting earnings, suspending share buybacks for debt reduction

From Yahoo Finance: 2024-07-19 02:11:31

Charles Schwab stock plummeted this week after reporting earnings and suspending share buybacks to focus on debt reduction. Despite lower prices, uncertainty remains as management hopes interest rate cuts will strengthen net interest margin. Q2 results were mixed, with EPS slightly beating estimates but revenue falling short. New users were slightly below expectations, yet active users increased. Net assets rose slightly, while net interest revenue fell. Concerns arose over halted share buybacks affecting stock performance. Analysts maintain a Moderate Buy rating on the stock, with an average price target of $81.23, suggesting 30.45% upside potential.



Read more at Yahoo Finance: What’s Going on with Charles Schwab Stock? (NYSE:SCHW)