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Morgan Stanley’s share price dips after earnings

18 January 2024 By Klavs Valters

Share

US financial services company, Morgan Stanley (NYSE: MS), announced Q4 2023 and full year financial results before the US open on Tuesday.

Morgan Stanley reported revenue of $12.896 billion for the previous quarter, narrowly beating analyst estimate of $12.773 billion.

Earnings per share (EPS) fell well short of Wall Street expectations at $0.85 vs. $1.074 per share expected.

The company achieved revenue for $54.1 billion in 2023. EPS reached $5.18 per share.

Company overview

  • Founded: 1935
  • Headquarters: New York, United States
  • Number of employees: 80,257 (2022)
  • Industry: Financial services
  • Key people: James P. Gorman (Executive Chairman), Ted Pick (CEO), Andy Saperstein (Co-President), Dan Simkowitz (Co-President), Sharon Yeshaya (CFO)

CEO commentary

“In 2023, the Firm reported a solid ROTCE* against a mixed market backdrop and a number of headwinds. We begin 2024 with a clear and consistent business strategy and a unified leadership team. We are focused on achieving our long-term financial goals and continuing to deliver for shareholders,” CEO of Morgan Stanley, Ted Pick, commented on the results in a statement to shareholders.

*Return on tangible equity

Stock reaction

The stock was down by over 4% after the announcement of the latest results. Shares were trading at $85.80 a share – the lowest level in over a month.

Stock performance

  • 5 day: -7.92%
  • 1 month: -5.13%
  • 3 months: +9.36%
  • Year-to-date: -7.67%
  • 1 year: -6.07%

Morgan Stanley stock price targets

  • HSBC: $96
  • JP Morgan: $94
  • UBS Group: $95
  • Bank of America: $100
  • Barclays: $116
  • Royal Bank of Canada: $85
  • Goldman Sachs: $100
  • Societe Generale: $80
  • BNP Paribas: $85
  • Oppenheimer: $103
  • Evercore: $97

Morgan Stanley is the 88th largest company in the world with a market cap of $141.14 billion.

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Why trade during extended hours?

  • Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
  • Reduce your risk and hedge your existing positions ahead of a new trading day
  • Extended trading hours on popular US stocks means extended opportunities

Sources: Morgan Stanley, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.