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Morgan Stanley (MS) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2024, Morgan Stanley (MS - Free Report) reported revenue of $15.38 billion, up 15.9% over the same period last year. EPS came in at $1.88, compared to $1.38 in the year-ago quarter.
The reported revenue represents a surprise of +7.77% over the Zacks Consensus Estimate of $14.27 billion. With the consensus EPS estimate being $1.57, the EPS surprise was +19.75%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $58.25 versus the five-analyst average estimate of $56.99.
Return on average common equity: 13.1% compared to the 10.8% average estimate based on four analysts.
Wealth Management - Total client assets: $5,974 billion compared to the $5,674.49 billion average estimate based on two analysts.
Total assets under management: $1,598 billion compared to the $1,467.17 billion average estimate based on two analysts.
Net revenues- Institutional Securities: $6.82 billion versus the four-analyst average estimate of $6.16 billion. The reported number represents a year-over-year change of +20.2%.
Revenues- Commissions and fees: $1.29 billion versus the four-analyst average estimate of $1.16 billion. The reported number represents a year-over-year change of +17.9%.
Revenues- Asset management: $5.75 billion versus $5.52 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.2% change.
Net revenues- Investment Management: $1.46 billion versus the four-analyst average estimate of $1.39 billion. The reported number represents a year-over-year change of +8.9%.
Net interest Revenue: $2.20 billion versus the four-analyst average estimate of $1.99 billion. The reported number represents a year-over-year change of +11.1%.
Revenues- Investment banking: $1.59 billion versus $1.37 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +51.7% change.
Revenues- Investments: $315 million compared to the $112.60 million average estimate based on three analysts. The reported number represents a change of +118.8% year over year.
Revenues- Trading: $4 billion versus the three-analyst average estimate of $3.36 billion. The reported number represents a year-over-year change of +8.8%.
Shares of Morgan Stanley have returned +12.4% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Morgan Stanley (MS) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2024, Morgan Stanley (MS - Free Report) reported revenue of $15.38 billion, up 15.9% over the same period last year. EPS came in at $1.88, compared to $1.38 in the year-ago quarter.
The reported revenue represents a surprise of +7.77% over the Zacks Consensus Estimate of $14.27 billion. With the consensus EPS estimate being $1.57, the EPS surprise was +19.75%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $58.25 versus the five-analyst average estimate of $56.99.
- Return on average common equity: 13.1% compared to the 10.8% average estimate based on four analysts.
- Wealth Management - Total client assets: $5,974 billion compared to the $5,674.49 billion average estimate based on two analysts.
- Total assets under management: $1,598 billion compared to the $1,467.17 billion average estimate based on two analysts.
- Net revenues- Institutional Securities: $6.82 billion versus the four-analyst average estimate of $6.16 billion. The reported number represents a year-over-year change of +20.2%.
- Revenues- Commissions and fees: $1.29 billion versus the four-analyst average estimate of $1.16 billion. The reported number represents a year-over-year change of +17.9%.
- Revenues- Asset management: $5.75 billion versus $5.52 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.2% change.
- Net revenues- Investment Management: $1.46 billion versus the four-analyst average estimate of $1.39 billion. The reported number represents a year-over-year change of +8.9%.
- Net interest Revenue: $2.20 billion versus the four-analyst average estimate of $1.99 billion. The reported number represents a year-over-year change of +11.1%.
- Revenues- Investment banking: $1.59 billion versus $1.37 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +51.7% change.
- Revenues- Investments: $315 million compared to the $112.60 million average estimate based on three analysts. The reported number represents a change of +118.8% year over year.
- Revenues- Trading: $4 billion versus the three-analyst average estimate of $3.36 billion. The reported number represents a year-over-year change of +8.8%.
View all Key Company Metrics for Morgan Stanley here>>>Shares of Morgan Stanley have returned +12.4% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.