Financial Performance - The firm reported net revenues of $15.4 billion for Q3 2024, a 16% increase from $13.3 billion in Q3 2023[14]. - Net income applicable to Morgan Stanley was $3.2 billion in Q3 2024, up 32% from $2.4 billion in Q3 2023[18]. - Diluted earnings per common share increased by 36% to $1.88 in Q3 2024, compared to $1.38 in Q3 2023[18]. - Net income for the nine months ended September 2024 was $4,902 million, a 50% increase compared to $3,266 million in the prior year period[43]. - Net income applicable to Morgan Stanley for the current quarter was $1,568 million, a 19% increase compared to $1,320 million in the prior year quarter[63]. Wealth Management - Wealth Management added net new assets of $64 billion in Q3 2024, with total client assets reaching $6 trillion[17]. - Wealth Management net revenues for the current quarter were $7,270 million, reflecting a 14% increase from the prior year, primarily due to higher gains on employee deferred cash-based investments[28]. - Total client assets in Wealth Management reached $7,572 billion, an increase from $6,588 billion in the prior year[32]. - Total client assets in Wealth Management reached $5,974 billion as of September 30, 2024, up from $5,129 billion at the end of 2023[64]. - Net new assets (NNA) for the three months ended September 30, 2024, were $63.9 billion, compared to $35.7 billion for the same period in 2023[65]. Institutional Securities - Institutional Securities net revenues were $6.8 billion, driven by strong performance in Equity and Fixed Income[16]. - Institutional Securities net revenues for the current quarter were $6,815 million, an increase of 20% from the prior year period, driven by higher equity results and underwriting revenues[28]. - Asia net revenues increased 31% in the current quarter compared to the prior year, driven by strong results across Institutional Securities and Investment Management[33]. Investment Management - Investment Management reported net revenues of $1.5 billion, with positive long-term net flows of $7 billion and end-of-period AUM of $1.6 trillion[18]. - Investment Management net revenues for the current quarter were $1,455 million, up 9% from the prior year, attributed to higher performance-based revenues[28]. - Total Assets under Management (AUM) increased to $1,598 billion as of September 30, 2024, up from $1,412 billion at the same time last year, representing a growth of 13.1%[95]. Expenses and Efficiency - The firm's expense efficiency ratio was 72% for both Q3 2024 and year-to-date, reflecting disciplined expense management[15]. - Compensation and benefits expenses increased by 13% to $6,733 million in Q3 2024, primarily due to higher employee compensation linked to investment performance[21]. - Non-interest expenses increased 10% to $4,836 million in the current quarter compared to the prior year quarter, driven by higher compensation and benefits expenses[61]. Credit Losses - The provision for credit losses on loans and lending commitments was $79 million in Q3 2024, down from $134 million in the prior year quarter[25]. - Provision for credit losses decreased by 67% to $124 million in the current year period from $379 million in the prior year period, indicating improved credit quality[43]. - The provision for credit losses on loans and lending commitments was $11 million in the current quarter, down from $41 million in the prior year quarter, reflecting improvements in the macroeconomic outlook[73]. Capital and Liquidity - The firm's Standardized Common Equity Tier 1 capital ratio was 15.1% as of September 30, 2024[15]. - The company maintained a Liquidity Coverage Ratio (LCR) of 134% as of September 30, 2024, up from 131% at the end of June 2024, indicating strong liquidity management[121]. - Total capital ratio at September 30, 2024, stands at 16.4%, exceeding the required ratio of 8.0%[157]. Market Environment - The economic environment showed improvement, with inflationary pressures moderating and interest rates declining, although geopolitical risks remain a concern[34]. - The company continues to operate in a market environment with lower completed M&A activity relative to longer-term averages[49]. Shareholder Returns - The company repurchased 8 million shares at an average price of $99.94 per share for a total of $750 million during the three months ended September 30, 2024[142]. - A common stock dividend of $0.925 per share was announced on October 16, 2024, to be paid on November 15, 2024[144].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, leveraging established price movements for profitable trades [1] Company Overview: Morgan Stanley (MS) - Morgan Stanley currently holds a Momentum Style Score of A, indicating strong momentum characteristics [1] - The company has a Zacks Rank of 2 (Buy), which is associated with a historical outperformance in the market [2] Performance Metrics - Over the past week, Morgan Stanley's shares have increased by 9.6%, outperforming the Zacks Financial - Investment Bank industry, which rose by 2.25% [3] - In the last month, Morgan Stanley's shares have appreciated by 15.34%, compared to the industry's 6.3% [3] - Over the past quarter, shares have risen by 14.03%, and in the last year, they have gained 65.34%, while the S&P 500 has only increased by 5.5% and 40.28%, respectively [3] Trading Volume - The average 20-day trading volume for Morgan Stanley is 6,127,828 shares, which serves as a bullish indicator when combined with rising stock prices [3] Earnings Outlook - In the last two months, 7 earnings estimates for Morgan Stanley have been revised upwards, while only 1 has been revised downwards, leading to an increase in the consensus estimate from $7.03 to $7.29 [4] - For the next fiscal year, there have also been 7 upward revisions and 1 downward revision in earnings estimates [4] Conclusion - Given the strong performance metrics and positive earnings outlook, Morgan Stanley is positioned as a solid momentum pick with a Momentum Score of A and a Zacks Rank of 2 (Buy) [4]

Morgan Stanley is the last of the major banks to report third-quarter earnings and produced results that exceeded analysts' expectations, just like all the others. (The reports on the other five "big" banks can be found in thisJohn M. Mason writes on current monetary and financial events. He is the founder and CEO of New Finance, LLC. Dr. Mason has been President and CEO of two publicly traded financial institutions and the executive vice president and CFO of a third. He has also served as a special assista ...

Morgan Stanley (NYSE:MS) Q3 2024 Earnings Conference Call October 16, 2024 8:30 AM ET Company Participants Ted Pick - Chief Executive Officer Sharon Yeshaya - Chief Financial Officer Conference Call Participants Steven Chubak - Wolfe Research Ebrahim Poonawala - Bank of America Glenn Schorr - Evercore Devin Ryan - Citizens JMP Dan Fannon - Jefferies Brennan Hawken - UBS Christian Bolu - Autonomous Gerard Cassidy - RBC Mike Mayo - Wells Fargo Saul Martinez - HSBC Operator Good morning. Welcome to Morgan Stan ...

For the quarter ended September 2024, Morgan Stanley (MS) reported revenue of $15.38 billion, up 15.9% over the same period last year. EPS came in at $1.88, compared to $1.38 in the year-ago quarter.The reported revenue represents a surprise of +7.77% over the Zacks Consensus Estimate of $14.27 billion. With the consensus EPS estimate being $1.57, the EPS surprise was +19.75%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determin ...

Group 1: Earnings Performance - Morgan Stanley reported quarterly earnings of $1.88 per share, exceeding the Zacks Consensus Estimate of $1.57 per share, and up from $1.38 per share a year ago, representing an earnings surprise of 19.75% [1] - The company posted revenues of $15.38 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 7.77%, compared to $13.27 billion in the same quarter last year [1] - Over the last four quarters, Morgan Stanley has consistently surpassed consensus EPS and revenue estimates [1] Group 2: Stock Performance and Outlook - Morgan Stanley shares have increased approximately 20.3% since the beginning of the year, while the S&P 500 has gained 21.9% [2] - The current consensus EPS estimate for the upcoming quarter is $1.49 on revenues of $14.36 billion, and for the current fiscal year, it is $6.94 on revenues of $58.78 billion [4] - The estimate revisions trend for Morgan Stanley is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [4] Group 3: Industry Context - The Financial - Investment Bank industry, to which Morgan Stanley belongs, is currently in the top 40% of over 250 Zacks industries, suggesting a favorable industry outlook [5] - Another company in the same industry, Raymond James Financial, Inc., is expected to report quarterly earnings of $2.46 per share, reflecting a year-over-year increase of 15.5% [5][6]

| --- | --- | |-----------------------------------------------------------------------------------------------------|-------------| | | | | Third Quarter 2024 Earnings Results | | | Quarterly Financial Supplement | Page | | Consolidated Financial Summary | 1 | | Consolidated Financial Metrics, Ratios and Statistical Data | 2 | | | | | Consolidated and U.S. Bank Supplemental Financial Information | 3 | | Consolidated Average Common Equity and Regulatory Capital Information | 4 | | Institutional Securities In ...

Wall Street analysts expect Morgan Stanley (MS) to post quarterly earnings of $1.57 per share in its upcoming report, which indicates a year-over-year increase of 13.8%. Revenues are expected to be $14.27 billion, up 7.5% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a company's earning ...

Morgan Stanley (MS) ended the recent trading session at $104.57, demonstrating a +0.05% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.17% loss on the day. Elsewhere, the Dow lost 0.44%, while the tech-heavy Nasdaq lost 0.04%. Heading into today, shares of the investment bank had gained 4.36% over the past month, outpacing the Finance sector's loss of 0.26% and the S&P 500's gain of 1.25% in that time. Market participants will be closely following the financial results of ...

Just three weeks ago, European Central Bank (ECB) officials believed that a rate cut at the October 17 policy meeting was unlikely. However, the situation has changed dramatically, making a 25 basis point cut almost certain.Commercial survey results have significantly worsened, inflation data has dropped below 2% for the first time in over three years, and the Federal Reserve's shift to a more accommodating stance has provided additional assurance. These factors have pushed ECB policymakers to the brink of ...