Banking, finance, and taxes
What to Watch For in Morgan Stanley's Q3
Published:
Last Updated:
Morgan Stanley (NYSE: MS) is scheduled to report its most recent quarterly results before the markets open on Tuesday. The consensus estimates from Thomson Reuters are $1.02 in earnings per share (EPS) and $9.56 billion in revenue for the third quarter. The same period of last year reportedly had EPS of $0.93 on $9.2 billion in revenue.
In the first quarter, Morgan Stanley reported a record profit, helped by a lower tax bill and a boost in revenue from the previous quarter’s volatile markets. The second quarter also posted solid numbers as well. Despite this, the stock has still managed to lag in 2018.
James P. Gorman, board chair and chief executive, commented in the previous report:
We reported robust revenue and earnings growth this quarter with strength across all businesses and geographies. The second quarter performance reflected active markets and healthy client engagement. Our strong global franchise positions us well to continue to grow organically across each of our businesses and to deliver operating leverage.
Morgan Stanley has underperformed the broad markets, with its stock down about 10% in the past 52 weeks. In just 2018 alone, the stock is down 17%.
A few analysts weighed in on Morgan Stanley ahead of the report:
Shares of Morgan Stanley were last seen trading at $43.60, in a 52-week range of $42.88 to $59.38 and with a consensus analyst price target of $59.02.
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.