Financial Sector Earnings Next Week: JPMorgan, Morgan Stanley, Wells Fargo And Citigroup. The New York-based bank said profit of $2.63 billion, or $1.47 a share, fell 29% from a year earlier. The Wall Street Journal. WebNEW YORK, October 14, 2022 Morgan Stanley (NYSE: MS) today reported net revenues of $13.0 billion for the third quarter ended September 30, 2022 compared with $14.8 billion a year ago. Common equity Tier 1 capital ratio was 15.2%, down from 17.2%. Please. Browse through our latest earnings releases, financial statements, presentations and webcasts. 2022 Benzinga.com. Morgan Stanley analyst John Glass raised the price target of Chipotle Mexican Grill Inc (NYSE: CMG) and Wingstop Inc (NASDAQ: WING) to $1,847 and $128, respectively. EPS: -$0.04 in Q3 vs. -$0.42 in the same period last year. Financial Sector Earnings Next Week: JPMorgan, Morgan Stanley, Wells Fargo And Citigroup. Excluding items, NuVasive, Inc. reported adjusted earnings of $28.33 million or $0.54 per share for the period. The BJP, riding on the back of Prime Minister Narendra Modis popularity, posted a record win in Gujarat on Thursday securing 156 seats the highest-ever tally by any party in the state surpassing Congress 149 in 1985. Do the numbers hold clues to what lies ahead for the stock? If you have an ad-blocker enabled you may be blocked from proceeding. However, readers seemed to be interested in the stock, given the multitude of talking heads that bring up the stock in the financial media, so heres a quick look at the EPS and revenue estimate trends: The first take on the EPS and revenue estimate trend((s)) is that the decline or erosion in EPS isnt too bad despite the drop in the mortgage banking business in 2022 while revenue estimates have been fairly stable through all of 2022. Near-term pain does lead to long-term gains when you have a buyback program at work. 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The Elon Musk-led company is now expected to deliver1.8 million vehicles in the full-year 2023. We want to hear from you. Contents: Prepared Remarks; Our next question comes from Elizabeth Porter of Morgan Stanley. Investment Banking revenue: $1.28 billion, down 55% year over year. TBVPS isa measure of intrinsic liquidation value that removes intangibles such as goodwill. Full-year deliveries are now expected to come in at around 1.31 million versus previous expectations of 1.37 million. Want the latest recommendations from Zacks Investment Research? The next question will come from Elizabeth Porter of Morgan Stanley. The shares year-to-date have declined by more than 20%. Get this delivered to your inbox, and more info about our products and services. Segment results Institutional Securities net revenue of $5.82 billion for Q3 missed expectations of nearly $6 billion. Morgan Stanley Investment Research is one of the financial industry's dominant thought leaders in equity and fixed-income investing. Note how revenue revision trends are stable to higher. In normal markets and a normal economy, JPM should trade closer to $140 $150 per share in my opinion particularly with a 14% return-on-tangible-common-equity (ROTCE) for Q2 22, so the stock is trading at a 25% discount to what is thought to be fair value. This compares to earnings of $0.27 per share a year ago. WebDaily Bulletin.com covers local news from Pomona to Ontario including, California news, sports, things to do, and business in the Inland Empire. 07:55AM: Your Guide to Third-Quarter Bank Earnings. Try the tool that will help you invest smarter, faster, and better, UPDATE 1-Saudi energy minister sees no clear results yet from Russia price cap, UPDATE 1-Traders don't plan to suspend grain exports from Odesa after Russian attacks -Ukraine minister, U.S. bars Russian diplomats from Soviet graves on Alaska base - TASS, U.S. energy envoy Hochstein calls investor hostility to shale drilling "un-American" -FT, NASA's Orion capsule heads for splashdown after Artemis I flight around moon. PLAN. WebMorgan Stanley Maintained Hold $38 neutral 11/14/22 Citigroup Corp. Expense efficiency ratio isa measure of efficiency that is calculated as total non-interest expenses divided by net revenues. Tesla will sell 'every vehicle it can produce through the FY23 forecast,' Morgan Stanley predicts. Tesla Rebounds To Report Record Deliveries In Q3 As It Charts Course For Strong Finish To The Year, Taiwan To Elon Musk - 'Our Freedom And Democracy Are Not For Sale', Tesla Model S Vs. Lucid Air: This Race Is A Photo Finish. Wealth Management net revenue of $6.12 billion for Q3 came up a bit short versus expectations of $6.15 billion. To read full story, subscribe to ET Prime, Billed annually at Browse through our latest earnings releases, financial statements, presentations and webcasts. Your Reason has been Reported to the admin. Our estimate for revenues was $13.12 billion.Net interest income was $2.5 billion, up 22% from the year-ago quarter. Until that improvement, however, our patience will be rewarded via dividend payments and share buybacks, which remember are even more effective and accretive in the long-term at lower share prices. JPMorgan still resembles the type of money-center bank that was prevalent in the 1990s with both corporate and capital market operations and attracted regulator attention post 2008 due to revenue volatility and financial institution size and importance (SIFI). Days Trial At the time, it also declared a quarterly dividend of $0.775 per share, payable on Nov. 15 to shareholders of record on Oct. 31. Your line is open. Q3 2022 Earnings Call Nov 01, 2022, 4:30 p.m. It's down nearly 34.6% year-to-date. Like Goldman and JPMorgan, Morgan Stanley will feel the pressure in the banking business first which, as of Q2 22, as a percentage of their net revenue and pre-tax income, is roughly half the business. Revenues missed expectations by about $327.80 million and decreased by almost 14% year-over-year. Net revenues were $6.1 billion, up 3% from the prior-year quarter due to higher net interest income.Total client assets were $4.1 trillion as of Sep 30, 2022, down 11% year over year.Investment Management: The segment includes the results of Eaton Vance. Q3 Q4; 2022: Earnings Release PDF Financial Supplements PDF XLS: Earnings Release PDF Financial Supplements PDF XLS: Earnings Release PDF Financial Supplements PDF XLS : 2021: Global Business and Financial News, Stock Quotes, and Market Data and Analysis. WebDaily Bulletin.com covers local news from Pomona to Ontario including, California news, sports, things to do, and business in the Inland Empire. The sector is in much better shape than it was in the late 1990s and then again in 2008. At some point the regulators should take off the cuffs and allow well-managed banks to boost dividends and repurchase shares after theyve built up capital. Its purely a guess since Im revisiting the fundamental story, Jane will likely have to reduce overhead and pull costs out of the business as she refocuses on the long-term asset management business. Next Friday, October 14th, 2022 is the big day for bank reporting next week. MCKs earnings yield of 6.94% compares favorably with the industrys 5.22%. Gap (GPS) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. Q3 Q4; 2022: Earnings Release PDF Financial Supplements PDF XLS: Earnings Release PDF Financial Supplements PDF XLS: Earnings Release PDF Financial Supplements PDF XLS : 2021: 04:30PM: Morgan Stanley Earnings Fall for Third Consecutive Quarter. Nevertheless, the companys increased focus on corporate lending will likely keep aiding revenues. Investor Relations. Morgan Stanleys asset and wealth management operation is now almost 50% of the business by revenue and pre-tax income, thus MS should be inherently more stable moving forward, while JPMs asset and wealth management business is 14% and 12% of total net revenue and net income and probably needs to grow as a percentage of the business to help reduce EPS and revenue volatility. Trading at 7x forward earnings, with revenue growth in 2022, and at a steep discount to book value and tangible book, with a 4.3% dividend yield, youd think the stock would be a no-brainer, but the stock has been a perennial underperformer since the 2008 Financial Crisis, thanks to the dilution Citi underwent to boost capital. Elizabeth Porter-- Morgan Stanley -- Analyst. At 68,500, the Sensex will trade at a trailing Price to Earnings (PE) ratio of 25 times, above its 25-year average of 20 times, said Morgan Stanley. JPMorgan, Citi Q3 earnings delight investors, but Morgan Stanley disappoints. Copyright 2022 Bennett, Coleman & Co. Ltd. All rights reserved. It comes from the line of Craig Hettenbach with Morgan Stanley. Looking at the charts, only JPM has come close to its June 22 low (in fact JPM has made a new low since the $110 $112 print in mid-June 22) in the subsequent months since the SP 500 put in a low in mid-June 22 of 3,636, while both Morgan Stanley and Wells Fargo have remained about those mid-year lows in terms of their stock price action. The shares year-to-date have declined by more than 20%. Watch the replay here: https:// Captain Modi Leads BJP to Record 7th Gujarat Poll Cup Win, Revised Telecom Draft to Clear Air on OTT, DTH, RBI Buys Estimated $8b from Market in Week, Weekly Top Picks: Seven large & mid caps with consistent score improvement and upside potential of up to 42%, What do Q2 LIC results indicate for other Insurance companies? Next Friday, October 14th, 2022 is the big day for bank reporting next week as JPMorgan (JPM), Citigroup (C), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC) report before the opening bell. The decline in GAAP earnings despite top-line growth was primarily attributable to higher operating expenses. Think of goodwill as the value of the Morgan Stanley brand. Brian started in the business as a fixed-income / credit analyst, with a Chicago broker-dealer, and then worked at Stein Roe & Farnham in Chicago, from 1992 - 1995, before striking out on his own and managing equity and balanced accounts for clients. The bottom line reflects a decline of 25% from the year-ago quarter. Excluding items, NuVasive, Inc. reported adjusted earnings of $28.33 million or $0.54 per share for the period. Fair value for MS seems to be between $90 and $100 for a premium brand within both the banking business and the wealth management business, so the stock around $80 is probably not trading at enough of a discount to warrant a big position. Q3 2022 Earnings Call Nov 08, 2022, 5:00 p.m. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Today, you can download 7 Best Stocks for the Next 30 Days. The dynamic of better sales and lower inflation is most constructive for casual dining, least so for distributors, where food inflation had been a sales tailwind, added Glass. Also, unlike other financials, Citis 2022 EPS are expected to decline 30%, and then decline again in 2023 by 4%, given the current consensus. 2022 CNBC LLC. Morgan Stanley Schedules Quarterly Investor Conference Call Market Classroom. WebFavor bonds as stocks look expensive amid Wall Streets timid approach to earnings revisions, says Morgan Stanley Nov. 21, 2022 at 1:07 p.m. The CFA was awarded in 1994. Brands Inc(NYSE: YUM),Restaurant Brands International Inc(NYSE: QSR),The Wendy's Company(NASDAQ: WEN),Krispy Kreme Inc(NASDAQ: DNUT),Shake Shack Inc(NYSE: SHAK),Jack In The Box Inc.(NASDAQ: JACK),Sysco Corp(NYSE: SYY),US Foods Holding Corp.(NYSE: USFD) andBloomin' Brands, Inc.(NASDAQ: BLMN). The stability in the EPS estimate trend is probably helping.). The next question will come from Elizabeth Porter of Morgan Stanley. All EPS and revenue data are sourced from IBES data by Refinitiv, and the reporting dates are sourced from Briefing.com. TSLA Price Action: Tesla has a 52-week high of $414.50 and a 52-week low of $206.86. Investment banking revenue fell 55% to $1.28 billion in the quarter, essentially matching the estimate of analysts surveyed by StreetAccount. American City Business Journals. Personally, I think there is more reward than risk within the financial sector today (depending on the stock youre looking at) but the economy and capital market conditions can change rapidly. Currently, for the full-year 2022, Street consensus is expecting EPS of $6.63 on revenue of $54.57 billion for expected YoY declines of -9% and -18% respectively. The upside was largely driven by a 160% rise in interest income.Total non-interest revenues of $10.5 billion decreased 17% year over year.Total non-interest expenses were $9.6 billion, down 3% year over year.Provision for credit losses was $35 million, up 46% from the prior-year quarter. While down from the 12/31/21 EPS estimate, the calendar 2022 EPS estimate has risen since the summer. ET. Investment Management net revenue of $1.17 billion for Q3 missed the $1.34 billion consensus. 11. Revenue of $12.99 billion came up short of the $13.3 billion consensus. However, if you look at 2023, Citi is expected to see EPS decline again in 2023 versus the high EPS print in 2021 of $10.14 per share. Earnings. WebAt Morgan Stanley, we lead with exceptional ideas. Elizabeth Porter-- Morgan Stanley -- Analyst. Q3 2022 Earnings Call Nov 01, 2022, 4:30 p.m. EPS: -$0.04 in Q3 vs. -$0.42 in the same period last year. Morgan Stanley analysts have homed in on two such stocks which are down at least 40% this year, but which they believe are primed for a turnaround. Thats a positive for the stock (or should be) coming into the Q3 22 earnings report. My recollection is that fully diluted shares outstanding increased by a multiple of 3x, which was crushing for the name. Capital Returns Morgan Stanley repurchased 30 million shares in its third quarter at an average purchase price of $85.79 per share, resulting in a return of capital to shareholders of $2.56 billion. NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Other factors to watch are pricingm demand trends, promotional activity, and input costs. Morgan Stanleys MS third-quarter 2022 results, scheduled to be announced on Oct 14, are expected to reflect the benefits of robust trading performance. Please go ahead. Contents: Prepared Remarks; please. This was the highest third quarter result for fixed income in over a decade. Morgan Stanley analyst John Glass raised the price target of Chipotle Mexican Grill Inc (NYSE: CMG) and Wingstop Inc (NASDAQ: WING) to $1,847 and $128, respectively. Contents: Prepared Remarks; please. Is this happening to you frequently? Morgan Stanley Investment Research is one of the financial industry's dominant thought leaders in equity and fixed-income investing. Morgan Stanleys MS third-quarter 2022 adjusted earnings of $1.53 per share surpassed the Zacks Consensus Estimate of $1.51. Capital Returns Morgan Stanley repurchased 30 million shares in its third quarter at an average purchase price of $85.79 per share, resulting in a return of capital to shareholders of $2.56 billion. The Zacks Consensus Estimate for the companys third-quarter earnings has moved 2.6% lower to $1.50 over the past seven days. For reprint rights: Continue reading with one of these options: Login to get access to some exclusive stories, Get access to exclusive stories, expert opinions &, Valid only with UPI, Credit & Debit Cards Autopay, Inciting hatred against a certain community, 15 After JPM grew EPS 73% in 2021, EPS is expected to decline 27% this year, both years of which are distorting the long-term averages of +15% EPS growth on +1 to +2% revenue growth (looking at the last decade from 2010 to 2019). Bottom line It was not the best quarter. Thats a plus. Morgan Stanley on Friday posted third-quarter results that missed analysts' expectations as investment banking revenue collapsed by 55%. The stock hasnt been owned by clients for several years since the account scandal broke. The Wall Street Journal. Net interest income (NII) came in better-than-expected, while fees were worse-than-expected in the 2nd quarter, 2022. Excluding items, NuVasive, Inc. reported adjusted earnings of $28.33 million or $0.54 per share for the period. In Q2 22, Citi printed 13% in YoY revenue growth and a 23% YoY decline in EPS. With mortgage rates hitting decade highs this week, the results of mortgage banking operations will be obvious. (Jim Cramer's Charitable Trust is long MS. See here for a full list of the stocks.) Morgan Stanley warned that such could be reflected in the months ahead byshorter lead times and price declines as EV consumers feel the effects of inflation.. The primary headwinds were international pressures (European consumers + more inflation) and FX. Zacks Investment Research, Morgan Stanley (MS) : Free Stock Analysis Report, Fifth Third Bancorp (FITB) : Free Stock Analysis Report, Citizens Financial Group, Inc. (CFG) : Free Stock Analysis Report. Investment management revenue, however, dropped 20% to $1.17 billion, which was below the $1.29 billion estimate. ET. (We define the terms at the bottom of this section.) This will alert our moderators to take action. The fall was due to a decline in asset management and related fees.As of Sep 30, 2022, total assets under management or supervision were $1.3 trillion, down 16% from Sep 30, 2021. Our analysts, economists and strategists have earned this reputation through timely, in-depth analysis of companies, industries, markets and the worlds economies. The bottom line reflects a decline of 25% from the year-ago quarter. The top line marginally missed the Zacks Consensus Estimate of $13.1 billion. In the U.S., the good news is that sales picked up over the past two months, and while consumer sentiment may not be out of the woods, it has not worsened. 2-Year JPM stock closed up 1.7% on Friday after gaining 5.6% on Thursday. BlackRock reports their Q3 22 on Thursday, October 13th, 2022. Fixed Income revenue: $2.18 billion, up 33% from last year and in line with expectations. See Also:Tesla Rebounds To Report Record Deliveries In Q3 As It Charts Course For Strong Finish To The Year. Financial Sector Earnings Next Week: JPMorgan, Morgan Stanley, Wells Fargo And Citigroup. Sign up for free newsletters and get more CNBC delivered to your inbox. Q3 2022 Earnings Call Nov 02, 2022, 8:15 a.m. Price Action:CMG shares are trading higher by 0.72% at $1,486.52 on the last check Tuesday. Morgan Stanley's new price target sits at $350. Citizens Financial Group CFG is slated to report results on Oct 19.The Zacks Consensus Estimate for Citizens Financials third-quarter earnings of $1.22 indicates no change from the prior-year quarters reported figure.Fifth Third Bancorp FITB is slated to report third-quarter 2022 results on Oct 20.The Zacks Consensus Estimate for Fifth Thirds third-quarter earnings is pegged at 98 cents, which indicates a 4.3% year-over-year rise. ET. Tesla recently confirmed that it sold343,830 vehiclesin the third quarter, representing an approximate increase of 42.5% year-over-year.Most analysts expected quarterly deliveries of around 360,000. Importantly, on the call, management said, "Underwriting activity has not gone away, it is simply being deferred." We sleep easier knowing the firm is well capitalized to weather an economic downturn, as indicated by its healthy Common Equity Tier 1 ratio (CET1), a measure of bank capital versus risk-weighted assets and a sign of the bank's ability to endure financial stress. As noted in Friday's "Morning Meeting," there's no reason for the Club to rush to buy more shares just yet. Asset management revenue: $3.39 billion, down 7% year over year, primarily reflecting lower market levels. James Gorman gave an interview in the last few weeks and wasnt negative on the business in 2022 (presumably credit risk weakening) which in front of earnings in the next week is more positive than negative. Expectations: Wall Street forecast a 25.5% drop in earnings to $1. All Rights Reserved. Since U.S. Bancorp and BlackRock have never been owned by clients; those financials will not be covered here. Q3 2022 Earnings Call Nov 10, 2022, 8:30 a.m. As a reminder, net interest income (NII) is the income generated as a result of the difference between what the bank pays you in interest to keep funds with them and what they can turn around and generate on those funds. Morgan Stanley price-eps-surprise | Morgan Stanley Quote. The stock is near baseline valuation, so if you can look out 6-12 months, you should be rewarded. Elevated expenses due to investments in franchise will likely continue to hurt Morgan Stanleys profits to some extent in the near term. Dons of Dalal Street Reuters This deal was at a slight discount to the previous days closing price of Rs 188.25. ET. ET. Morgan Stanleys MS third-quarter 2022 adjusted earnings of $1.53 per share surpassed the Zacks Consensus Estimate of $1.51. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. In the last reported quarter, the company delivered an earnings surprise of 31.19%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Total assets under management in Q3 came in at $1.28 trillion, down 16% year over year, and down 5% from the second quarter. "Nevertheless, we believe Tesla will still sell every vehicle it can produce through the FY23 forecast," Morgan Stanley said. Morgan Stanley (MS) delivered earnings and revenue surprises of 1.32% and 1.16%, respectively, for the quarter ended September 2022. Capital Marketswill be a big drag for JP Morgan, Goldman Sachs, Morgan Stanley and possibly Bank of America. In Q2 22, within JPMs Corporate and Investment Bank, which is 32% and 43% of the banks net revenue and net income respectively, net revenue fell 10% and net income fell 26%. The next question will come from Elizabeth Porter of Morgan Stanley. Gap (GPS) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. Data is a real-time snapshot *Data is delayed at least 15 minutes. Stock in Morgan Stanley fell by 4% following the financial results. Data is a real-time snapshot *Data is delayed at least 15 minutes. Morgan Stanley Earnings. Choose your reason below and click on the Report button. Includes DocuBay and TimesPrime Membership. Our analysts, economists and strategists have earned this reputation through timely, in-depth analysis of companies, industries, markets and the worlds economies. All opinions are my own, so take with a grain of salt. You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here. Here is a quick look at JPMs EPS and revenue trend revisions: What I like about JPMs EPS revision trend is the stability since the summer months or since 7/31/22 across 2022 and 2023. Our analysts, economists and strategists have earned this reputation through timely, in-depth analysis of companies, industries, markets and the worlds economies. Pre-tax income totaled $1.6 billion, up 8% year over year. Key metrics Before digging into the various operating segments, let's look at some key overall metrics. At 68,500, the Sensex will trade at a trailing Price to Earnings (PE) ratio of 25 times, above its 25-year average of 20 times, said Morgan Stanley. Experience Your Economic Times Newspaper, The Digital Way! At 68,500, the Sensex will trade at a trailing Price to Earnings (PE) ratio of 25 times, above its 25-year average of 20 times, said Morgan Stanley. All Rights Reserved. WebGet the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more Shares of telecom giant Lumen Technologies (NYSE: LUMN) plunged 25.7% in November, according to data from S&P Global Market Intelligence. 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