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Morgan Stanley (MS) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Morgan Stanley (MS - Free Report) reported $12.9 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 1.2%. EPS of $1.13 for the same period compares to $1.31 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $12.7 billion, representing a surprise of +1.54%. The company delivered an EPS surprise of +7.62%, with the consensus EPS estimate being $1.05.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Morgan Stanley performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Book value per common share: $55.50 versus the four-analyst average estimate of $47.71.
Return on average common equity: 6.2% versus 8.5% estimated by three analysts on average.
Wealth Management - Total client assets: $5,129 billion compared to the $4,948.87 billion average estimate based on two analysts.
Total assets under management: $1,459 billion compared to the $1,468.02 billion average estimate based on two analysts.
Revenues- Investment Management - Asset management and related fees: $1.40 billion versus the three-analyst average estimate of $1.36 billion. The reported number represents a year-over-year change of +2.3%.
Revenues- Institutional securities- Investment banking: $1.32 billion versus $1.07 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.3% change.
Net revenues- Investment Management: $1.46 billion compared to the $1.43 billion average estimate based on three analysts. The reported number represents a change of +0.2% year over year.
Revenues- Asset management: $5.04 billion versus $4.89 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
Net revenues- Wealth Management: $6.65 billion compared to the $6.47 billion average estimate based on three analysts. The reported number represents a change of +0.3% year over year.
Net revenues- Institutional Securities: $4.94 billion compared to the $4.79 billion average estimate based on three analysts. The reported number represents a change of +2.9% year over year.
Revenues- Wealth Management- Net interest income: $1.85 billion versus the three-analyst average estimate of $1.92 billion. The reported number represents a year-over-year change of -13.4%.
Revenues- Commissions and fees: $1.11 billion compared to the $1.11 billion average estimate based on three analysts. The reported number represents a change of -5.1% year over year.
Shares of Morgan Stanley have returned -1.2% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Morgan Stanley (MS) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Morgan Stanley (MS - Free Report) reported $12.9 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 1.2%. EPS of $1.13 for the same period compares to $1.31 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $12.7 billion, representing a surprise of +1.54%. The company delivered an EPS surprise of +7.62%, with the consensus EPS estimate being $1.05.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Morgan Stanley performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Book value per common share: $55.50 versus the four-analyst average estimate of $47.71.
- Return on average common equity: 6.2% versus 8.5% estimated by three analysts on average.
- Wealth Management - Total client assets: $5,129 billion compared to the $4,948.87 billion average estimate based on two analysts.
- Total assets under management: $1,459 billion compared to the $1,468.02 billion average estimate based on two analysts.
- Revenues- Investment Management - Asset management and related fees: $1.40 billion versus the three-analyst average estimate of $1.36 billion. The reported number represents a year-over-year change of +2.3%.
- Revenues- Institutional securities- Investment banking: $1.32 billion versus $1.07 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.3% change.
- Net revenues- Investment Management: $1.46 billion compared to the $1.43 billion average estimate based on three analysts. The reported number represents a change of +0.2% year over year.
- Revenues- Asset management: $5.04 billion versus $4.89 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
- Net revenues- Wealth Management: $6.65 billion compared to the $6.47 billion average estimate based on three analysts. The reported number represents a change of +0.3% year over year.
- Net revenues- Institutional Securities: $4.94 billion compared to the $4.79 billion average estimate based on three analysts. The reported number represents a change of +2.9% year over year.
- Revenues- Wealth Management- Net interest income: $1.85 billion versus the three-analyst average estimate of $1.92 billion. The reported number represents a year-over-year change of -13.4%.
- Revenues- Commissions and fees: $1.11 billion compared to the $1.11 billion average estimate based on three analysts. The reported number represents a change of -5.1% year over year.
View all Key Company Metrics for Morgan Stanley here>>>Shares of Morgan Stanley have returned -1.2% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.