Home
News
- 1 MS Stock rallied 6.45% in the last session, 9.58% in a week, and 15.65% in a year.
- 2 Morgan Stanley announced its Q2 2023 earnings report on July 18, 2023.
Morgan Stanley (NYSE: MS) reported its Q2 earnings on July 18, causing MS Stock to jump by 6.45%. Additionally, the alliance with MUFJ has entered a second act. Morgan Stanley and Mitsubishi UFJ Financial, Japan’s biggest bank in terms of market value, have unveiled the next chapter of their 15 years alliance.
This collaboration would enable connection between clients and investment bankers worldwide, along with facilitating mega-deals without being exposed to the frustration and expense of going against the United States bulge-bracket players.
Morgan Stanley (MS Stock) – Financial Analysis
The U.S. giant Morgan Stanley is shifting over 200 technology developers out of China after the nation tightened its grip on access to data stored onshore. Most employees shall be moved to Singapore or Hong Kong while the bank builds a standalone China system that complies with local regulations.
James Gorman, CEO of Morgan Stanley, has been keen on the wealth management sector of the firm. This section helped the bank gain steady earnings and increased its valuation against its peers. Furthermore, the Q2 2023 management revenue gained 16% to $6.66 billion on higher interest income. It surpassed the estimated value of $6.5 billion. Moreover, the division brought in about $90 billion in net new client assets.
Its institutional securities business’ revenue fell by 8% to $5.65 billion. At the same time, equities trading generated $2.55 billion in revenue, beating the estimate of $2.37 billion. Investment banking revenue remained unchanged at $1.08 billion.
Morgan Stanley – Technical Analysis
NYSE: MS at press time is trading at $91.94, gaining 6.54%. Its previous close and open were at $86.37 to $87.54, respectively. The 52-week range is from $74.67 to $100.99, indicating that the current price is closer to the higher limits. With a volume of 21.06 million shares, the market cap is at $153.55 billion.
The trailing twelve-month (ttm) price-to-earnings (P/E) ratio is $15.77, indicating an undervalued share price. At the same time, the (ttm) earnings per share (EPS) is 5.83. Analysts placed a 2.63 rating for moderate buy and estimated a price target of $195.44 with a 3.8% upside.
Morgan Stanley announced its Q2 earnings on July 18, 2023, where the reported revenue of $13.451 billion exceeded the estimated value of $13.018 billion by 3.37%. At the same time, the reported earnings of $1.24 surpassed the expected value of $1.202 by 3.02%. The subsequent earnings will be announced on October 17, where the estimation for earnings is $1.477, and revenue is expected to be $13.45 billion.
Operating margin (ttm) gained 32.02%, revenue (ttm) stands strong at $52.93 billion, while the year-over-year (YoY) quarterly revenue growth fell by 3.10%. Total cash in hand at the end of the most recent quarter (mrq) is $573.24 billion, while the total debt comes at $363.96 billion.
Morgan Stanley (MS Stock) – Candle Exploration
MS Share price finally managed a strong breakout of the narrow range it has been consolidating in since March 2023. Although the price action tried to break out from this a couple of times, this time, it seems substantial because of a strong volume and a positive earnings report.
Although the price crosses R1 at $91.94, it still has to stabilize for confirmation. If so, the price shall consolidate and could break through R2 at $98.35. If this solid bullish candle fails, the price might drop to the stooping EMA. Furthermore, the RSI at 70.80 is entering the overbought range and hints at a slight rejection.
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets and stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
