News & Analysis

Morgan Stanley’s share price dips after earnings

18 January 2024 By Klavs Valters

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

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