Morgan Stanley Shares Fall 1.36% Ahead of October Earnings
The stock underperformed major U.S. indexes, while Zacks estimates point to higher earnings and revenue for the coming quarter.
Morgan Stanley shares closed at $193.64, down 1.36% from the previous session. The decline was steeper than the S&P 500’s 0.77% loss.
The Dow fell 0.67%, while the Nasdaq dropped 0.92%. Over the past month, Morgan Stanley shares had lost 8.6%, while the Finance sector fell 3.48% and the S&P 500 gained 0.96%.
Morgan Stanley is scheduled to report earnings on October 14. Zacks consensus estimates project quarterly earnings of $3.06 per share, up 9.29% from the same quarter last year, and revenue of $19.88 billion, up 9.07%.
For the full fiscal year, Zacks estimates earnings of $12.82 per share and revenue of $81.87 billion. Those figures would represent increases of 25.56% and 15.89%, respectively, from the prior year.
The Zacks consensus estimate for earnings per share has risen 0.04% over the past month.
This article was produced with the help of AI technology.
Source: Yahoo Finance
