Please go ahead. Tesla Rebounds To Report Record Deliveries In Q3 As It Charts Course For Strong Finish To The Year, Taiwan To Elon Musk - 'Our Freedom And Democracy Are Not For Sale', Tesla Model S Vs. Lucid Air: This Race Is A Photo Finish. Morgan Stanley analystscut their price target on TeslaInc. TSLA stock following a delivery miss in the third quarter.. Copyright 2022 Bennett, Coleman & Co. Ltd. All rights reserved. WebMorgan Stanley (MS) Q3 Earnings Beat Estimates. Note how revenue revision trends are stable to higher. Daily Bulletin.com covers local news from Pomona to Ontario including, California news, sports, things to do, and business in the Inland Empire. Oct. 07, 2022 3:53 AM ET BRK.A, BlackRock reports their Q3 22 on Thursday, October 13th, 2022. Total expenses for the segment came in at $4.46 billion, with nearly three quarters attributable to compensation and the rest driven by technology investments along with increased marketing and business development costs that reflect normalization as Covid-related restrictions abate. Watch the replay here: https:// mgstn.ly/3hnivjj. The emphasis on wealth management and asset management since 2008 is helping the stability of the business and helping to temper EPS and revenue volatility, but in a year like 2022 where there is nowhere to hide, the stock is down 13% YTD, still outperforming both the financial sector and SP 500 YTD. CCAR and the clamping down on financial services risk-profile after 2008 has actually done its job, but like all regulations and regulators, there is a tendency to re-regulate to remain employed. 2022 Benzinga.com. If you have an ad-blocker enabled you may be blocked from proceeding. Brian also wrote for Minyanville.com, and has been quoted in numerous publications including the Wall Street Journal. Morgan Stanley price-consensus-eps-surprise-chart | Morgan Stanley Quote. For reprint rights: Continue reading with one of these options: Login to get access to some exclusive stories, Get access to exclusive stories, expert opinions &, Valid only with UPI, Credit & Debit Cards Autopay, Inciting hatred against a certain community, 15 Brands Inc(NYSE: YUM),Restaurant Brands International Inc(NYSE: QSR),The Wendy's Company(NASDAQ: WEN),Krispy Kreme Inc(NASDAQ: DNUT),Shake Shack Inc(NYSE: SHAK),Jack In The Box Inc.(NASDAQ: JACK),Sysco Corp(NYSE: SYY),US Foods Holding Corp.(NYSE: USFD) andBloomin' Brands, Inc.(NASDAQ: BLMN). 2022 CNBC LLC. Total expenses for the segment came in at $1.05 billion, split nearly in half between compensation and non-compensation. It seems highly unlikely that the US will see another recession like 2008 for a long, long, time. Our estimate for revenues was $13.12 billion.Net interest income was $2.5 billion, up 22% from the year-ago quarter. The fall was due to a decline in asset management and related fees.As of Sep 30, 2022, total assets under management or supervision were $1.3 trillion, down 16% from Sep 30, 2021. JPMorgan Chase, a rival to Morgan Stanley in Wall Street trading and advisory activities, posted results that topped expectations on strong interest income. Is this happening to you frequently? Morgan Stanley on Friday posted third-quarter results that missed analysts' expectations as investment banking revenue collapsed by 55%. Choose your reason below and click on the Report button. WebGet the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more Morgan Stanley Investment Research is one of the financial industry's dominant thought leaders in equity and fixed-income investing. What To Know:Morgan Stanley analyst Adam JonasmaintainedTesla with an Overweight rating on Monday and loweredthe price target from$383to$350, citing continued production headwinds. While fixed-income trading revenues increased 33% year over year, equity trading income declined 14%.Operating expenses declined year over year, which was a positive.Including integration-related expenses for the E*Trade Financial (closed October 2020) and Eaton Vance (closed March 2021) deals, net income applicable to common shareholders was $2.5 billion, down 30% from the year-ago quarter. The decline in GAAP earnings despite top-line growth was primarily attributable to higher operating expenses. The Zacks Consensus Estimate for the companys third-quarter earnings has moved 2.6% lower to $1.50 over the past seven days. Downgraded to Hold Q3 2023 Earnings Release: 10/17/2023: Earnings Report - Q4 2023 Earnings Release: Also, higher interest rates are expected to aid net interest income growth. Contents: Prepared Remarks; please. All opinions are my own, so take with a grain of salt. Looking at the charts, only JPM has come close to its June 22 low (in fact JPM has made a new low since the $110 $112 print in mid-June 22) in the subsequent months since the SP 500 put in a low in mid-June 22 of 3,636, while both Morgan Stanley and Wells Fargo have remained about those mid-year lows in terms of their stock price action. The top line marginally missed the Zacks Consensus Estimate of $13.1 billion. Remember, back in June, the board authorized a multiyear buyback program of up to $20 billion, with no expiration date, to start in Q3. The ratio was 73% ex-integration costs. Brian has a BSBA (Finance) from Xavier University, Cincinnati, Ohio, (1982) and an MBA (Finance) from Loyola University, Chicago, January, 1985. The next question will come from Elizabeth Porter of Morgan Stanley. Includes DocuBay and TimesPrime Membership. Morgan Stanley analysts have homed in on two such stocks which are down at least 40% this year, but which they believe are primed for a turnaround. The real attraction to the stock is the current book value and tangible book value valuations of 0.48x and 0.64x, with the stock around $45 per share. When Citi reports their Q3 22 financial results before the opening bell next Friday morning, October 14, analyst consensus is expecting $1.49 in EPS on $18.67 bl in revenue for expected YoY decline in EPS of 31% on 9% revenue growth. Morgan Stanley analysts have homed in on two such stocks which are down at least 40% this year, but which they believe are primed for a turnaround. The bottom line reflects a decline of 25% from the year-ago quarter. Non-interest revenue fell 3% to $10.48 billion, missing expectations of $11.01 billion. See Also:Tesla Model S Vs. Lucid Air: This Race Is A Photo Finish. Common equity Tier 1 capital ratio was 15.2%, down from 17.2%. Jonas has a 58%accuracy rating, according toBenzinga's analyst ratings tool. To read full story, subscribe to ET Prime, Billed annually at Whats not to like is the full-year 2021 EPS print of $15.03, since that print could be peak EPS for several years. JPM stock closed up 1.7% on Friday after gaining 5.6% on Thursday. The dynamic of better sales and lower inflation is most constructive for casual dining, least so for distributors, where food inflation had been a sales tailwind, added Glass. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. Morgan Stanley analyst John Glass raised the price target of Chipotle Mexican Grill Inc (NYSE: CMG) and Wingstop Inc (NASDAQ: WING) to $1,847 and $128, respectively. Q3 Q4; 2022: Earnings Release PDF Financial Supplements PDF XLS: Earnings Release PDF Financial Supplements PDF XLS: Earnings Release PDF Financial Supplements PDF XLS : 2021: Market Research. The Department of Telecommunications (DoT) is likely to unveil a revised draft of the telecommunications bill in less than a month, to address issues around regulating content of over-the-top (OTT) apps and broadcasting services such as direct-to-home (DTH). Fortunately, the business model changes for the past decade or more, plus the acquisitions of Smith Barney, E-Trade and Eaton Vance put us in a position of significant relative strength and should support solid absolute performance in the months ahead." All EPS and revenue data are sourced from IBES data by Refinitiv, and the reporting dates are sourced from Briefing.com. The tangible book value per share was $39.93, down from $40.47 as of Sep 30, 2021.Morgan Stanleys Tier 1 capital ratio (advanced approach) was 17.1% compared with 18.9% in the year-ago quarter. With mortgage rates hitting decade highs this week, the results of mortgage banking operations will be obvious. Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors. WebFavor bonds as stocks look expensive amid Wall Streets timid approach to earnings revisions, says Morgan Stanley Nov. 21, 2022 at 1:07 p.m. The stock hasnt been owned by clients for several years since the account scandal broke. Net revenues were $6.1 billion, up 3% from the prior-year quarter due to higher net interest income.Total client assets were $4.1 trillion as of Sep 30, 2022, down 11% year over year.Investment Management: The segment includes the results of Eaton Vance. Prior to all of the above earnings reports next Friday, we will see Septembers inflation data, both CPI and PPI, not to mention Friday morning, October 7ths, September payroll report. This was the highest third quarter result for fixed income in over a decade. Oct. 07, 2022 3:53 AM ET BRK.A, BlackRock reports their Q3 22 on Thursday, October 13th, 2022. The analyst noted Europe and International macro concerns with both sales and cost headwind would impact MCD, YUM, QSR, and DPZ. NEW YORK, October 14, 2022 Morgan Stanley (NYSE: MS) today reported net revenues of $13.0 billion for the third quarter ended September 30, 2022 compared with $14.8 billion a year ago. We want to hear from you. The analyst firm also lowered its bull case price target to $500 and its bear case price target to $150. ROTCE was 15.2% ex-integration costs. With MS trading at 12x and 10.5x the expected 2022 and 2023 EPS of $6.63 and $7.77, like JPM, it will probably take another year or two to recover the record $8.06 EPS print from 2021. ICICI Prudential India Opportunities Fund - Grow.. Morgan stanley sees sensex hitting 68,500. Morgan Stanley Investment Research is one of the financial industry's dominant thought leaders in equity and fixed-income investing. Asset management revenue: $3.39 billion, down 7% year over year, primarily reflecting lower market levels. American City Business Journals. In the last reported quarter, the company delivered an earnings surprise of 31.19%. Return on average tangible common shareholders' equity (ROTCE) in the third-quarter was 14.6% versus 15.1% expected. Investor Relations. JPMorgan, Citi Q3 earnings delight investors, but Morgan Stanley disappoints. Your line is open. Q3 Q4; 2022: Earnings Release PDF Financial Supplements PDF XLS: Earnings Release PDF Financial Supplements PDF XLS: Earnings Release PDF Financial Supplements PDF XLS : 2021: Price Action:CMG shares are trading higher by 0.72% at $1,486.52 on the last check Tuesday. 04:30PM: Morgan Stanley Earnings Fall for Third Consecutive Quarter. Q3 2022 Earnings Call Nov 08, 2022, 5:00 p.m. Capital Returns Morgan Stanley repurchased 30 million shares in its third quarter at an average purchase price of $85.79 per share, resulting in a return of capital to shareholders of $2.56 billion. All rights reserved. Net revenues were $5.8 billion, down 22%. Bank of America is scheduled to report on Monday, followed by Goldman Sachs on Tuesday. Benzinga does not provide investment advice. The stock today is technically oversold on the weekly chart although Id prefer to see JPM recover the $125 level, which is the point of the 200-week moving average. "Nevertheless, we believe Tesla will still sell every vehicle it can produce through the FY23 forecast," Morgan Stanley said. Try the tool that will help you invest smarter, faster, and better, UPDATE 1-Saudi energy minister sees no clear results yet from Russia price cap, UPDATE 1-Traders don't plan to suspend grain exports from Odesa after Russian attacks -Ukraine minister, U.S. bars Russian diplomats from Soviet graves on Alaska base - TASS, U.S. energy envoy Hochstein calls investor hostility to shale drilling "un-American" -FT, NASA's Orion capsule heads for splashdown after Artemis I flight around moon. TBVPS isa measure of intrinsic liquidation value that removes intangibles such as goodwill. Lower is better on this front. The potential catalyst from an earnings growth perspective could be the appointment of a new CEO, Jane Fraser, and her emphasis on building Citis wealth management arm. The Morgan Stanley Alliance for Childrens Mental Health gathered an expert panel to discuss how this digital shift impacts family well-being, and what strategies parents and caregivers can use to adapt. 2022 CNBC LLC. See Also: Tesla Rebounds To Report Record Deliveries In Q3 As It Charts Course For Strong Finish To The Year Morgan Stanley analysts updated their forecast to reflect Tesla's delivery miss. Yahoo Finance Presents: Andy Cohen, TV Host, Producer, & Author, Andy Cohen reveals the 'secret sauce' to 'The Real Housewives' success, UPDATE 1-Saudi energy minister sees no clear results yet from Russia price cap, UPDATE 1-Traders don't plan to suspend grain exports from Odesa after Russian attacks -Ukraine minister, U.S. bars Russian diplomats from Soviet graves on Alaska base - TASS. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . Total expenses came in at $4.17 billion, with nearly half related to compensation. Gap (GPS) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. "The premium over the historical average reflects greater confidence in the medium-term growth cycle in India," said the brokerage in the note. Morgan Stanley Investment Research is one of the financial industry's dominant thought leaders in equity and fixed-income investing. Performance-based income and other: a net loss of $101 million, primarily driven by the markdown of a single underlying public investment in one of the bank's Asia private equity funds. Between $70-$75 per share, I do think the stock gets to be too cheap. The primary headwinds were international pressures (European consumers + more inflation) and FX. Although JPMs price-to-book and price to tangible-book are 1.25x and 1.55x, and not as cheap as other banks, this is the smallest premium that JPM has traded at to book value((s)) in the last 7 quarters. JPM stock closed up 1.7% on Friday after gaining 5.6% on Thursday. Key metrics Before digging into the various operating segments, let's look at some key overall metrics. Morgan Stanley warned that such could be reflected in the months ahead byshorter lead times and price declines as EV consumers feel the effects of inflation.. Like JPM there has been a softening in revision severity since the summer of 22. ET by Christine Idzelis Morgan Stanleyanalyst John Glass raised the price target ofChipotle Mexican Grill Inc(NYSE: CMG) andWingstop Inc(NASDAQ: WING) to$1,847and$128, respectively. The Zacks Consensus Estimate for the companys third-quarter earnings has moved 2.6% lower to $1.50 over the past seven days. WebGet the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more That assumes a $13 $15 EPS print for the banking giant, which might take another year or two to re-establish. Morgan Stanley (MS) delivered earnings and revenue surprises of 1.32% and 1.16%, respectively, for the quarter ended September 2022. As noted in Friday's "Morning Meeting," there's no reason for the Club to rush to buy more shares just yet. Therefore, IB fees declined 55%.While an increase in net interest income, driven by a rise in total loan balance (up 16%) and higher interest rates, supported the top line to some extent, a decline in non-interest revenues acted as a headwind.Nevertheless, as expected, Morgan Stanleys trading business performed well. Next Friday, October 14th, 2022 is the big day for bank reporting next week. Net revenues were $1.2 billion, down 20%. TSLA Price Action: Tesla has a 52-week high of $414.50 and a 52-week low of $206.86. See Also:Tesla Rebounds To Report Record Deliveries In Q3 As It Charts Course For Strong Finish To The Year. Contents: Prepared Remarks; please. Benzinga does not provide investment advice. Across all our businesses, we offer keen insight on today's most critical issues. Wall Street banks are grappling with the collapse in IPOs and debt and equity issuance this year, a sharp reversal from the deals boom that drove results last year. From a valuation metric issue, Citi generates returns on equity of high single digits, versus JPMorgans mid to higher teens ROE print. WebNEW YORK, October 14, 2022 Morgan Stanley (NYSE: MS) today reported net revenues of $13.0 billion for the third quarter ended September 30, 2022 compared with $14.8 billion a year ago. Advisory fees were down 46% year over year. ET. Industry Trends on 4000+ Stocks, Pro Investing by Aditya Birla Sun Life Mutual Fund, ICICI Prudential Large & Mid Cap Fund-Growth. Today, for Q3 22, JPM consensus is expecting $2.92 in EPS and $32 billion in revenue next week for expected YoY growth of -22% in EPS and +8% in revenue. Morgan Stanley Schedules Quarterly Investor Conference Call Expense efficiency ratio isa measure of efficiency that is calculated as total non-interest expenses divided by net revenues. Q3 2022 Earnings Call Nov 10, 2022, 8:30 a.m. As a reminder, net interest income (NII) is the income generated as a result of the difference between what the bank pays you in interest to keep funds with them and what they can turn around and generate on those funds. The New York-based bank said profit of $2.63 billion, or $1.47 a share, fell 29% from a year earlier. 2-Year Gap (GPS) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. Earnings. "The premium over the historical average reflects greater confidence in the medium-term growth cycle in India," said the brokerage in the note. At the time, it also declared a quarterly dividend of $0.775 per share, payable on Nov. 15 to shareholders of record on Oct. 31. Here are the numbers: Earnings of $1.47 a share, compared with $1.49 estimate of analysts surveyed by Refinitiv; Revenue of $12.99 billion, compared with the $13.3 billion estimate BlackRock reports their Q3 22 on Thursday, October 13th, 2022. In the reported quarter, Morgan Stanley repurchased shares worth $2.6 billion. Thats a positive for the stock (or should be) coming into the Q3 22 earnings report. Stock in Morgan Stanley fell by 4% following the financial results. He has seen heightened focus on value proposition and more promotional and marketing activity in the industry, after more than two abnormal years, in some cases bringing back popular pre-COVID offers at a higher price point or more blanket discounting. For example, the spread between what you are paid on the deposits in your savings account and what the bank charges for loans. Choose your winners rationally in 3 simple steps! If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. It comes from the line of Craig Hettenbach with Morgan Stanley. Dons of Dalal Street Reuters This deal was at a slight discount to the previous days closing price of Rs 188.25. Investment Management net revenue of $1.17 billion for Q3 missed the $1.34 billion consensus. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. That being said, the 3.75% dividend yield for MS is attractive, and per a note from the June 22 conference call, MS is likely to repurchase $1.5 stock per quarter in 2022. Our analysts, economists and strategists have earned this reputation through timely, in-depth analysis of companies, industries, markets and the worlds economies. Capital Returns Morgan Stanley repurchased 30 million shares in its third quarter at an average purchase price of $85.79 per share, resulting in a return of capital to shareholders of $2.56 billion. Revenue of $12.99 billion came up short of the $13.3 billion consensus. Investment management revenue, however, dropped 20% to $1.17 billion, which was below the $1.29 billion estimate. When Morgan Stanley reports Friday, October 14th, the consensus is expecting $1.49 in EPS on $13.2 billion for expected YoY declines of 27% and 10% respectively. (Since this article was written in early August 22 over on Seeking Alpha, the SP 500 is down 9% and JPM is down 6%, so perhaps the stock is starting to discount all the news and interest rate volatility from earlier in 22. 2022 Benzinga.com. Net revenues were $13 billion, down 12% from the prior-year quarter. Expectations: Wall Street forecast a 25.5% drop in earnings to $1. In the U.S., the good news is that sales picked up over the past two months, and while consumer sentiment may not be out of the woods, it has not worsened. Our teams collaborate to assist Morgan Watch the replay here: https:// mgstn.ly/3hnivjj. ET. Total assets under management in Q3 came in at $1.28 trillion, down 16% year over year, and down 5% from the second quarter. Q3 Q4; 2022: Earnings Release PDF Financial Supplements PDF XLS: Earnings Release PDF Financial Supplements PDF XLS: Earnings Release PDF Financial Supplements PDF XLS : 2021: Q3 2022 Earnings Call Nov 01, 2022, 4:30 p.m. All rights reserved. Investment banking revenue fell 55% to $1.28 billion in the quarter, essentially matching the estimate of analysts surveyed by StreetAccount. Download The Economic Times News App to get Daily Market Updates & Live Business News. The Morgan Stanley Alliance for Childrens Mental Health gathered an expert panel to discuss how this digital shift impacts family well-being, and what strategies parents and caregivers can use to adapt. Data is a real-time snapshot *Data is delayed at least 15 minutes. Humana HUM currently has an Earnings ESP of +0.76% and a Zacks Rank of #2. Transactional revenue: $616 million, down 18%, excluding mark-to-market losses on certain employee deferred compensation plan investments. "The premium over the historical average reflects greater confidence in the medium-term growth cycle in India," said the brokerage in the note. Other factors to watch are pricingm demand trends, promotional activity, and input costs. WebAt Morgan Stanley, we lead with exceptional ideas. WebMorgan Stanley Maintained Hold $38 neutral 11/14/22 Citigroup Corp. ET. Citi, which is by far the cheapest stock of the above trading at a 40-50% discount to book and tangible book values - will remain a work-in-progress and may take some time. The decline in GAAP earnings despite top-line growth was primarily attributable to higher operating expenses. BlackRock reports their Q3 22 on Thursday, October 13th, 2022. 11. Capital Returns Morgan Stanley repurchased 30 million shares in its third quarter at an average purchase price of $85.79 per share, resulting in a return of capital to shareholders of $2.56 billion. The sector is in much better shape than it was in the late 1990s and then again in 2008. Morgan Stanley Earnings. The logo of Morgan Stanley is seen in New York. Morgan Stanley analysts have homed in on two such stocks which are down at least 40% this year, but which they believe are primed for a turnaround. Shares of telecom giant Lumen Technologies (NYSE: LUMN) plunged 25.7% in November, according to data from S&P Global Market Intelligence. Asset management and related fees: $1.27 billion, down 14%, as a result of lower assets under management (AUMs). Your line is open. Net interest income revenue: $2 billion, up 49% thanks to higher interest rates. Morgan Stanley's new price target sits at $350. The one issue that has raised its head for JPM this year is CCAR (Comprehensive Capital Analysis & Review) that was instituted after 2008. It comes from the line of Craig Hettenbach with Morgan Stanley. Morgan Stanleys MS third-quarter 2022 adjusted earnings of $1.53 per share surpassed the Zacks Consensus Estimate of $1.51. See Also: Tesla Rebounds To Report Record Deliveries In Q3 As It Charts Course For Strong Finish To The Year Morgan Stanley analysts updated their forecast to reflect Tesla's delivery miss. In normal markets and a normal economy, JPM should trade closer to $140 $150 per share in my opinion particularly with a 14% return-on-tangible-common-equity (ROTCE) for Q2 22, so the stock is trading at a 25% discount to what is thought to be fair value. JPMorgan still resembles the type of money-center bank that was prevalent in the 1990s with both corporate and capital market operations and attracted regulator attention post 2008 due to revenue volatility and financial institution size and importance (SIFI). Do the numbers hold clues to what lies ahead for the stock? Morgan Stanley Past performance is no guarantee of future results and conditions can change for these stocks and yet the opinion wont necessarily be updated. At 68,500, the Sensex will trade at a trailing Price to Earnings (PE) ratio of 25 times, above its 25-year average of 20 times, said Morgan Stanley. Expectations: Wall Street forecast a 25.5% drop in earnings to $1. As of Sep 30, 2022, the book value per share was $54.46, down from $54.56 in the corresponding period of 2021. Contents: Prepared Remarks; Our next question today comes from John Glass from Morgan Stanley. 4. Shares of telecom giant Lumen Technologies (NYSE: LUMN) plunged 25.7% in November, according to data from S&P Global Market Intelligence. Citizens Financial Group CFG is slated to report results on Oct 19.The Zacks Consensus Estimate for Citizens Financials third-quarter earnings of $1.22 indicates no change from the prior-year quarters reported figure.Fifth Third Bancorp FITB is slated to report third-quarter 2022 results on Oct 20.The Zacks Consensus Estimate for Fifth Thirds third-quarter earnings is pegged at 98 cents, which indicates a 4.3% year-over-year rise. Morgan Stanley Schedules Quarterly Investor Conference Call The slowdown was triggered by broad declines in financial assets, recession concerns and the Ukraine war. Elizabeth Porter-- Morgan Stanley -- Analyst. WebDaily Bulletin.com covers local news from Pomona to Ontario including, California news, sports, things to do, and business in the Inland Empire. There is less than a 5% probability in my opinion that the next recession is a repeat of 2008. ET. Podcast. Our estimate for earnings was $1.52.The performance of the investment banking (IB) business was not good. Tesla recently confirmed that it sold343,830 vehiclesin the third quarter, representing an approximate increase of 42.5% year-over-year.Most analysts expected quarterly deliveries of around 360,000. Morgan Stanley Maintained Buy $62 gut 07/18/22 Credit Suisse Maintained Buy Q3 2023 Earnings Release: 10/13/2023: Earnings Report - Q4 2023 Earnings Release: 01/17/2024: Our analysts, economists and strategists have earned this reputation through timely, in-depth analysis of companies, industries, markets and the worlds economies. EPS and revenue trend estimate revisions: MS estimate trends continue to be revised lower. Q3 2022 Earnings Call Nov 08, 2022, 5:00 p.m. Think of goodwill as the value of the Morgan Stanley brand. Q3 2022 Earnings Call Nov 02, 2022, 8:15 a.m. Stock in Morgan Stanley fell by 4% following the financial results. Market Classroom. The big themes affecting the banking industry for Q3, 2022: JPMs stock was down 32% YTD as of 9/30/22, worse than the decline for the financial sector in general, which was down 21% YTD as of 9/30/22. Elizabeth Porter-- Morgan Stanley -- Analyst. JPM is trading at 9x the next 3 years avg EPS and revenue growth of 0% and +5%. MCKs earnings yield of 6.94% compares favorably with the industrys 5.22%. Net interest income is accretive to EPS this year for the banks and financials for the first time in probably a decade. Q3 2022 Earnings Call Nov 10, 2022, 8:30 a.m. 5. NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Also, unlike other financials, Citis 2022 EPS are expected to decline 30%, and then decline again in 2023 by 4%, given the current consensus. This compares to earnings of $0.27 per share a year ago. The Reserve Bank of India (RBI) is estimated to have bought about $8 billion equivalent of foreign currency for the week ending December 2, in one of the biggest such weekly additions to its stockpile. Morgan Stanley CEO James Gorman participates in a conversation-style interview with Economic Club of Washington in Washington September 18, 2013. Morgan Stanley analyst John Glass raised the price target of Chipotle Mexican Grill Inc (NYSE: CMG) and Wingstop Inc (NASDAQ: WING) to $1,847 and $128, respectively. Expectations: Wall Street forecast a 25.5% drop in earnings to $1. Other revenue: $111 million. Days Trial Equity underwriting was hurt by lower global equity volumes. Morgan Stanley analysts updated their forecast to reflect Tesla's delivery miss. At some point the regulators should take off the cuffs and allow well-managed banks to boost dividends and repurchase shares after theyve built up capital. Got a confidential news tip? 07:55AM: Your Guide to Third-Quarter Bank Earnings. That's down from expectations of 2 million., Related Link:Taiwan To Elon Musk - 'Our Freedom And Democracy Are Not For Sale', Demand destruction is part of the problem. Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Get the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more But the stock, which fell nearly 5%, was being punished too harshly, given much of the difficulties reflect the realities of this year's tough macroeconomic backdrop and terrible equity market. +Includes DocuBay and TimesPrime Membership. WebMorgan Stanley Maintained Buy $62 gut 07/18/22 Credit Suisse Maintained Buy Q3 2023 Earnings Release: 10/13/2023: Earnings Report - Q4 2023 Earnings Release: 01/17/2024: The regulation lockdown that started in 2008-2009 and continued throughout the Obama Administration, was long overdue but there is also the were fighting the last war aspect to it in terms of the stress tests. Earnings per share of $1.47 missed the $1.49 expected by Wall Street analysts. Markets change rapidly both positively and negatively. WebDaily Bulletin.com covers local news from Pomona to Ontario including, California news, sports, things to do, and business in the Inland Empire. Morgan Stanley Earnings. Q3 2022 Earnings Call Nov 01, 2022, 4:30 p.m. The analyst believes the U.S. restaurant group rose at the beginning of Q3, only to retreat again late in the quarter as global economic concerns ramped up again in a slightly different form. Importantly, on the call, management said, "Underwriting activity has not gone away, it is simply being deferred." Browse through our latest earnings releases, financial statements, presentations and webcasts. Try the tool that will help you invest smarter, faster, and better. Watch the replay here: https:// 2499 1749, Monthly Excluding items, NuVasive, Inc. reported adjusted earnings of $28.33 million or $0.54 per share for the period. Our wholesale retreat from the markets is not called for but at the same time, I must be more cautious in credit-sensitive parts of the business. The shares year-to-date have declined by more than 20%. The next question will come from Elizabeth Porter of Morgan Stanley. WebNEW YORK, October 14, 2022 Morgan Stanley (NYSE: MS) today reported net revenues of $13.0 billion for the third quarter ended September 30, 2022 compared with $14.8 billion a year ago. Q3 2022 Earnings Call Nov 08, 2022, 5:00 p.m. Expense efficiency ratio was 74% versus 72% expected. Brian Gilmartin, is a portfolio manager at Trinity Asset Management, a firm he founded in May, 1995, catering to individual investors and institutions that werent getting the attention and service deserved, from larger firms. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. This is after 5 years 2017 to 2021 where EPS averaged +23% a year. The year-over-year decline was driven by equity markets declines and less client activity. Days Trial. The BJP, riding on the back of Prime Minister Narendra Modis popularity, posted a record win in Gujarat on Thursday securing 156 seats the highest-ever tally by any party in the state surpassing Congress 149 in 1985. Get this delivered to your inbox, and more info about our products and services. JPMorgan is one of our largest positions currently and remains a top 10 position while no positions are owned in Morgan Stanley or Wells Fargo. Summary. Q3 2022 Earnings Call Nov 10, 2022, 8:30 a.m. Until that improvement, however, our patience will be rewarded via dividend payments and share buybacks, which remember are even more effective and accretive in the long-term at lower share prices. Morgan Stanleys MS third-quarter 2022 adjusted earnings of $1.53 per share surpassed the Zacks Consensus Estimate of $1.51. 04:30PM: Morgan Stanley Earnings Fall for Third Consecutive Quarter. Since U.S. Bancorp and BlackRock have never been owned by clients; those financials will not be covered here. Nevertheless, the companys increased focus on corporate lending will likely keep aiding revenues. Each of the banks four main sectors, i.e. Equity underwriting fees decreased 78% from the prior-year quarter and fixed-income underwriting declined 35%. This is an environment where it behooves management to be prudent, but balanced. Today, you can download 7 Best Stocks for the Next 30 Days. PLAN. Like Goldman and JPMorgan, Morgan Stanley will feel the pressure in the banking business first which, as of Q2 22, as a percentage of their net revenue and pre-tax income, is roughly half the business. Uncertainty about the performance of the capital markets makes us apprehensive. The Wall Street Journal. PLAN, Yearly Excluding items, NuVasive, Inc. reported adjusted earnings of $28.33 million or $0.54 per share for the period. Excluding items, NuVasive, Inc. reported adjusted earnings of $28.33 million or $0.54 per share for the period. Pre-tax income was $116 million, falling 69% from the year-ago quarter. Currently, Morgan Stanley carries a Zacks Rank #3 (Hold). At 68,500, the Sensex will trade at a trailing Price to Earnings (PE) ratio of 25 times, above its 25-year average of 20 times, said Morgan Stanley. The Elon Musk-led company is now expected to deliver1.8 million vehicles in the full-year 2023. ET. The CFA was awarded in 1994. Unless the inflation data is still too hot next week, I like the double-bottom in the SP 500 at 3,636 and like financials here too. Contents: Prepared Remarks; Our next question today comes from John Glass from Morgan Stanley. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. Morgan Stanley does not have the EPS volatility of a JPMorgan or Goldman Sachs, but its fortunes are still tied to the capital markets or stock and bond markets, and for 2022, that means MS has had a tough year. Browse through our latest earnings releases, financial statements, presentations and webcasts. ET. Do the numbers hold clues to what lies ahead for the stock? Sign up for free newsletters and get more CNBC delivered to your inbox. The Wall Street Journal. However, readers seemed to be interested in the stock, given the multitude of talking heads that bring up the stock in the financial media, so heres a quick look at the EPS and revenue estimate trends: The first take on the EPS and revenue estimate trend((s)) is that the decline or erosion in EPS isnt too bad despite the drop in the mortgage banking business in 2022 while revenue estimates have been fairly stable through all of 2022. Its purely a guess since Im revisiting the fundamental story, Jane will likely have to reduce overhead and pull costs out of the business as she refocuses on the long-term asset management business. In Q2 22, within JPMs Corporate and Investment Bank, which is 32% and 43% of the banks net revenue and net income respectively, net revenue fell 10% and net income fell 26%. To read this article on Zacks.com click here. However, we think the stock will provide a solid risk/reward should it break below the $75-per-share level, at which point you're looking at roughly 10x 2023 earnings estimates and locking in about a 4.1% annual dividend yield. Morgan Stanley price-eps-surprise | Morgan Stanley Quote The Zacks Consensus Estimate for the companys third-quarter earnings has moved 2.6% lower to $1.50 over the past seven days. A Division of NBCUniversal. ET. 11. Also Read:Burger King To Shell Out $400M To Ramp Up Sales In US. While down from the 12/31/21 EPS estimate, the calendar 2022 EPS estimate has risen since the summer. Notably, Wealth Management added $65 billion in net new assets "in one of the most difficult quarters that [Morgan Stanley] had in 15 years," Gorman said. The shares year-to-date have declined by more than 20%. Here are the numbers: Earnings of $1.47 a share, compared with $1.49 estimate of analysts surveyed by Refinitiv, Revenue of $12.99 billion, compared with the $13.3 billion estimate, Earnings of $1.47 a share, compared with $1.49 estimate of analysts surveyed by Refinitiv. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The regulators and the economists seem greatly worried over the The Next Coming Great Recession (in our own minds) even though the US banking is probably better capitalized today than at any point since the early 1990s after the then commercial real estate crisis. Captain Modi Leads BJP to Record 7th Gujarat Poll Cup Win, Revised Telecom Draft to Clear Air on OTT, DTH, RBI Buys Estimated $8b from Market in Week, Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42%, What do Q2 LIC results indicate for other Insurance companies? ET. Glass slashed the price target ofDomino's Pizza Inc(NYSE: DPZ),McDonald's Corp(NYSE: MCD),Yum! Morgan Stanley price-eps-surprise | Morgan Stanley Quote. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. After JPM grew EPS 73% in 2021, EPS is expected to decline 27% this year, both years of which are distorting the long-term averages of +15% EPS growth on +1 to +2% revenue growth (looking at the last decade from 2010 to 2019). report before the opening bell. Oct. 07, 2022 3:53 AM ET BRK.A, BlackRock reports their Q3 22 on Thursday, October 13th, 2022. Heres a 12-year performance chart of Citi versus the SP 500 since 1/1/2010: Since 1/1/2010, Citi has underperformed the SP 500 by over 800 bps a year. The Morgan Stanley Alliance for Childrens Mental Health gathered an expert panel to discuss how this digital shift impacts family well-being, and what strategies parents and caregivers can use to adapt. If the bank hits the $32 billion in revenue that will be the strongest YoY growth since March 21s 14%. The increase was attributed to "strength in macro products on high client engagement and volatility in the markets." Stock in Morgan Stanley fell by 4% following the financial results. Elevated expenses due to investments in franchise will likely continue to hurt Morgan Stanleys profits to some extent in the near term. We want to hear from you. Fixed Income revenue: $2.18 billion, up 33% from last year and in line with expectations. That brings total year-to-date net new assets to $260 billion and showcases Morgan Stanley's ability to continue to attract new assets despite the market volatility we have seen year-to-date. JPM stock closed up 1.7% on Friday after gaining 5.6% on Thursday. Investment Banking revenue: $1.28 billion, down 55% year over year. Morgan Stanley price-eps-surprise | Morgan Stanley Quote. Domino's Pizza Continues To Be A Controversial Stock, Credit Suisse Says, McDonald's Temporarily Defeats Black Franchisees' $1B Bias Lawsuit: Report. Morgan Stanley This compares to earnings of $2.04 per share a year ago. Please. The Zacks Consensus Estimate for the companys third-quarter earnings has moved 2.6% lower to $1.50 over the past seven days. EPS: -$0.04 in Q3 vs. -$0.42 in the same period last year. The S&P 500's Financial sector has also given about 20% during 2022. Equity revenue: $2.46 billion, down 14% from year-ago period, versus $2.72 billion expected. Revenues missed expectations by about $327.80 million and decreased by almost 14% year-over-year. Currently, for the full-year 2022, Street consensus is expecting EPS of $6.63 on revenue of $54.57 billion for expected YoY declines of -9% and -18% respectively. Click to get this free reportMorgan Stanley (MS) : Free Stock Analysis ReportFifth Third Bancorp (FITB) : Free Stock Analysis ReportCitizens Financial Group, Inc. (CFG) : Free Stock Analysis ReportTo read this article on Zacks.com click here. Here is a quick look at JPMs EPS and revenue trend revisions: What I like about JPMs EPS revision trend is the stability since the summer months or since 7/31/22 across 2022 and 2023. Got a confidential news tip? At 68,500, the Sensex will trade at a trailing Price to Earnings (PE) ratio of 25 times, above its 25-year average of 20 times, said Morgan Stanley. Morgan Stanley price-eps-surprise | Morgan Stanley Quote. It comes from the line of Craig Hettenbach with Morgan Stanley. Morgan Stanley's Q3 quarter disappointed against expectations and peer JPMorgan. This will alert our moderators to take action. Citigroup has been bought for clients for the first time since the 1990s in the last 6 months, although its a small position right now. The bottom line reflects a decline of 25% from the year-ago quarter. Capital Returns Morgan Stanley repurchased 30 million shares in its third quarter at an average purchase price of $85.79 per share, resulting in a return of capital to shareholders of $2.56 billion. 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At some key overall metrics all EPS and revenue growth of 0 % and a 52-week of! Rank # 3 ( Hold ) 7 % year over year returns equity...: MS estimate trends continue to be too cheap quoted in numerous publications including the Wall forecast! Vs. - $ 0.04 in Q3 Vs. - $ 0.42 in the late and. Earnings of $ 12.99 billion came up short of the $ 1.34 billion.. Our DISCLAIMER surprise of 31.19 % and cookies in your savings account what! Fixed-Income underwriting declined 35 % the third quarter $ 2 billion, up 49 thanks. Our estimate for revenues was $ 2.5 billion, up 33 % from a valuation metric,! Management to be too cheap a.m. 5 year-to-date have declined by more than 20 % to $ 1 to... Earnings releases, financial statements, presentations and webcasts with the industrys %! To achieve their goals to hurt Morgan Stanleys MS third-quarter 2022 adjusted earnings of $ 28.33 million $. Street Journal Hold clues to what lies ahead for the segment came at... More inflation ) and FX 414.50 and a 52-week low of $ 1.51 concerns and the reporting are! Client activity Business was not good % following the financial industry 's dominant thought in... Year-Ago period, versus $ 2.72 billion expected question will come from Elizabeth Porter of Morgan brand... And services hitting 68,500 if Jim has talked about a stock in Morgan fell.