Morgan Stanley’s Q4 Profit Surges 88%, Beating Estimates (MS)

Filed in ceo, dividend, Gold, lead, morgan-stanley, o, revenue, shares by on January 20, 2011 0 Comments

Financial services giant Morgan Stanley ( MS ) on Thursday said its fourth quarter profit jumped 88% from last year on higher revenue, surpassing analyst estimates. The New York-based company reported fourth quarter net income of $867 million, or 41 cents per share, compared with $460 million, or 29 cents per share, in the year-ago period. Revenue rose 14% from last year to $7.8 billion. On average, Wall Street analysts expected a slightly smaller profit of 40 cents per share, on smaller revenue of $7.4 billion. CEO James Gorman commented, “Despite this year’s challenging markets, we delivered strong results in investment banking enhancing our leadership positions in M&A, global equity and IPOs based on the strength of our banking, capital markets and equities teams.” Morgan Stanley shares rose 47 cents, or +1.7%, in premarket trading Thursday. The Bottom Line Shares of Morgan Stanley ( MS ) have a .72% dividend yield, based on last night’s closing stock price of $27.75. The stock has technical support in the $24-$25 price area. If the shares can firm up, we see overhead resistance around the $29-$30 price levels. Morgan Stanley ( MS ) is not recommended at this time, holding a DARS™ Rating of 3.2 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Morgan Stanley’s Q4 Profit Surges 88%, Beating Estimates (MS)

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