What to Watch When Morgan Stanley Reports Thursday Morning
Morgan Stanley is set to release its most recent quarterly results before the opening bell on Thursday, and analyst sentiment is somewhat muted.
Morgan Stanley (NYSE: MS | MS Price Prediction) is set to release its most recent quarterly results before the opening bell on Thursday. The consensus estimates are calling for $1.11 in earnings per share (EPS) and $9.63 billion in revenue. The third quarter of last year reportedly had $1.17 in EPS and $9.87 billion in revenue.
In the most recent quarter, management said that the company reported solid quarterly results across all its businesses. Firmwide revenues were over $10 billion, and Morgan Stanley produced a return on equity within its target range.
For the second quarter, book value per share was $44.13 and tangible book value per share was $38.44.
In terms of its business segments at that time, Morgan Stanley reported as follows:
- Investment Banking revenues decreased 11% year over year to $1.59 billion.
- Trading revenue decreased 17% to $2.73 billion.
- Investments revenue increased by 200% to $441 million.
- Commissions and Fees decreased by 6% to $979 million.
- Asset Management revenue increased 1% to $3.22 billion.
- Other revenue increased 4% to $253 million.
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Excluding Wednesday’s move, Morgan Stanley had underperformed the broad markets, with its stock up only 7% year to date. In the past 52 weeks, the stock was actually down 2%.
Ahead of the report, a few analysts weighed in on stock:
- Pritchard Capital has a Buy rating with a $48 price target.
- Sandler O’Neill has a Buy rating and a $48 price target.
- BMO Capital Markets has a Buy rating with a $69 target price.
- Oppenheimer has a Buy rating with a $65 price target.
- Citigroup’s Buy rating comes with a $52 target price.
Shares of Morgan Stanley were trading up nearly 1% at $42.85 on Wednesday, in a 52-week range of $36.74 to $48.67. The consensus price target is $52.77.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
