Morgan Stanley is set to report third-quarter 2026 earnings on Oct. 14 before market open, with the Zacks Consensus Estimate for revenues at $19.63 billion, up 7.7% year over year, and earnings per share revised 4.7% lower over the past seven days to $2.83, a rise of just 1.1% from the prior-year quarter. Within the investment banking business, the consensus estimate for total underwriting fees of $1.33 billion implies a decline of 6.3%, comprising equity underwriting fees of $663.8 million, up 1.8%, and fixed-income underwriting fees of $669.8 million, down 13.2%, while advisory fees are pegged at $798 million, up 16.7%, and total IB income is estimated at $2.27 billion, flat year over year. Trading is expected to have been solid, with equity trading revenues estimated at $4.51 billion, up 9.6%, and fixed-income trading revenues at $2.16 billion, a marginal decline, while net interest revenues are seen at $2.63 billion, up 5.4%. The quantitative model does not predict an earnings beat, as Morgan Stanley carries a Zacks Rank #3 and an Earnings ESP of -0.20%. The stock trades at a forward 12-month P/E of 14.45X, above the industry's 12.61X and at a premium to JPMorgan at 13.28X and Goldman Sachs at 12.30X.
Morgan StanleyQ3 EPS estimate cut 4.7% over the past seven days to $2.83, with the model not predicting an earnings beat (ESP -0.20%).
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