Banking, finance, and taxes
What to Watch When Morgan Stanley Reports Thursday Morning
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Morgan Stanley (NYSE: MS) 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:
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:
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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