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Morgan Stanley (MS), headquartered in New York City, is a global leader in investment banking, securities, wealth management, and investment management services. With a market cap of $169.86 billion, Morgan Stanley serves a diverse client base, including corporations, governments, institutions, and individuals, providing innovative financial solutions and advisory services. The company is set to announce its Q3 earnings before the market opens on Thursday, Oct. 17.
Ahead of the event, analysts expect MS to report a profit of $1.63 per share, up 18.1% from $1.38 in the year-ago quarter. The company has surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $1.82 per share for the last quarter surpassed the consensus estimate by 10.3%. Morgan Stanley's quarterly outperformance was driven by solid growth in wealth management and investment banking.
For fiscal 2024, analysts expect MS to report EPS of $7.02, up 28.6% from $5.46 in fiscal 2023.
MS stock is up 12.1% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 19.7% gains and the Financial Select Sector SPDR Fund’s (XLF) 20% returns over the same time frame.
Morgan Stanley released its Q2 earnings on Jul. 16, and the stock gained marginally on the day. The company reported net revenues of $15.0 billion, up from $13.5 billion in the same quarter last year.
The consensus opinion on MS stock is moderately bullish, with an overall “Moderate Buy” rating. Of 22 analysts covering the stock, six advise a “Strong Buy,” 15 suggest a “Hold,” and one suggests a “Strong Sell.” MS' average analyst price target is $107.50, indicating a potential upside of 2.9% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
