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Morgan Stanley (MS) Beats on Q2 Earnings & Revenue Estimates
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Have you been eager to see how Morgan Stanley (MS - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based leading financial services holding company’s earnings release this morning:
An Earnings Beat
Morgan Stanley came out with earnings from continuing operations of 87 cents per share, which surpassed the Zacks Consensus Estimate of 76 cents.
Improved revenues were the main reason for earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Morgan Stanley depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has declined 10.6% over the last 30 days.
However, Morgan Stanley has a decent earnings surprise history. Before posting the earnings beat in Q2, the company delivered positive surprises in all the prior four quarters, as shown in the chart below:
Morgan Stanley posted net revenues of $9.5 billion, which compared favorably with the year-ago number of $8.9 billion. The Zacks Consensus Estimate was $9.3 billion.
Key Statistics:
Sales & Trading revenue were $3.2 billion
Fixed Income sales and trading net revenues were $1.2 billion
Repurchased $500 million worth shares during the quarter
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) for Morgan Stanley. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Following the earnings release, Morgan Stanley shares were down nearly 1.4% in the pre-trading session. This is in-line with what the stock witnessed in the last day’s session. Clearly, the initial reaction shows that the investors have not considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this Morgan Stanley earnings report!
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Morgan Stanley (MS) Beats on Q2 Earnings & Revenue Estimates
Have you been eager to see how Morgan Stanley (MS - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based leading financial services holding company’s earnings release this morning:
An Earnings Beat
Morgan Stanley came out with earnings from continuing operations of 87 cents per share, which surpassed the Zacks Consensus Estimate of 76 cents.
Improved revenues were the main reason for earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Morgan Stanley depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has declined 10.6% over the last 30 days.
However, Morgan Stanley has a decent earnings surprise history. Before posting the earnings beat in Q2, the company delivered positive surprises in all the prior four quarters, as shown in the chart below:
Morgan Stanley Price and EPS Surprise
Morgan Stanley Price and EPS Surprise | Morgan Stanley Quote
Revenues
Morgan Stanley posted net revenues of $9.5 billion, which compared favorably with the year-ago number of $8.9 billion. The Zacks Consensus Estimate was $9.3 billion.
Key Statistics:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) for Morgan Stanley. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
How the Market Reacted So Far
Following the earnings release, Morgan Stanley shares were down nearly 1.4% in the pre-trading session. This is in-line with what the stock witnessed in the last day’s session. Clearly, the initial reaction shows that the investors have not considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this Morgan Stanley earnings report!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>