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.
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.