Banking, finance, and taxes
Morgan Stanley Posts Solid Earnings Beat in Q2
Published:
Last Updated:
Morgan Stanley (NYSE: MS) reported its second quarter financial results before the markets opened on Wednesday. The company said that it had $0.87 in earnings per share (EPS) and $9.5 billion in revenue, versus consensus estimates from Thomson Reuters that called for $0.76 in EPS and $9.09 billion in revenue. The same period from last year had $0.75 in EPS and $8.91 billion in revenue.
In terms of its business segments the investment bank reported:
Common Equity Tier 1 and Tier 1 risk-based capital ratios under Advanced Approach transitional provisions were approximately 16.6% and 18.9%, respectively.
At the same time, book value and tangible book value per common share were $38.22 and $33.24, respectively.
The bank announced a share repurchase of up to $5 billion of common stock beginning in the third quarter of 2017 through the end of the second quarter of 2018. The board of directors also declared a $0.25 quarterly dividend per share, payable on August 15, to common shareholders of record on July 31, 2017.
James P. Gorman, Chairman and CEO, commented:
Our second quarter results demonstrated the resilience of our franchise in a subdued trading environment. Our wealth management business produced a 25% margin and our strong investment banking results attest to the diversity of our global business. We continue to deliver on our strategic goals and grow shareholder returns.
Shares of Morgan Stanley closed Tuesday at $45.14, with a consensus analyst price target of $48.78 and a 52-week range of $27.79 to $47.33. Following the release, the stock was up 2.8% at $46.41 in early trading indications Wednesday.
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.