Shares of Morgan Stanley rose four percent in pre-market trading. The stock had a trading volume of 5,856,402 shares.
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Morgan Stanley ranked second globally after Goldman Sachs in advising on deals in the first half of 2015, according to Thomson Reuters data. Wealth management also performed strongly in the second quarter, though its revenue growth rate was a more subdued 5 per cent. The most recent total of $157 billion remains below the firm’s target of $180 billion.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Monday, July 20th.
Return on equity, a commonly used measure of bank profitability that Mr. Gorman has flagged as a key metric, was 9.1% compared with 10.7% in the second quarter a year ago excluding an accounting adjustment.
In the same quarter previous year, the bank reported earnings per share of $US0.60 on revenue of $US8.61 billion.
ENERGY: Benchmark USA crude rose 19 cents to $51.08 per barrel in electronic trading on the New York Mercantile Exchange.
Morgan Stanley “won the trading game this quarter”, said Jeff Harte, an analyst with Sandler O’Neill + Partners LP.
Other equities research analysts have also recently issued reports about the stock. The 12-month mean target is $40.67, which means upside potential of 1.70% over the current price.
The decline at Morgan Stanley narrows its lead compared to its wirehouse competitors by size of the brokerage force.
You should note that the earnings estimate revisions for Morgan Stanley depicted a neutral stance prior to the earnings release. In the near term, the target price could hit a high of $48 and a low of $ 35. U.S. officials view Huawei as a security threat due to perceived close links to the Chinese government, which the company denies. Also, CFO Paul C. Wirth sold 39,462 shares of Morgan Stanley stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $38.37, for a total value of $1,514,156.94. The disclosure for this sale can be found here.
Morgan Stanley’s long-term issuer rating was the only one of the major banks that Moody’s raised two levels in May, as the ratings company cited the firm’s strengthened capital and lower earnings volatility. The Company is a financial holding company.
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For Q2, analysts expect to see the wealth management division do well. The Company’s Investment management consists of Traditional Asset Management, Merchant Banking and Real Estate Investing activities, is one of the largest global investment management organizations of any full-service financial services firm and offers clients a broad array of equity, fixed income and alternative investments and merchant banking strategies.
