|Bid||51.51 x 100|
|Ask||52.76 x 100|
|Day's Range||51.82 - 52.87|
|52 Week Range||40.43 - 59.38|
|PE Ratio (TTM)||16.95|
|Earnings Date||Jul 17, 2018 - Jul 23, 2018|
|Forward Dividend & Yield||1.00 (1.82%)|
|1y Target Est||61.83|
Interactive Brokers Group’s (IBKR) Electronic Brokerage segment posted net revenues of $465.0 million in 1Q18, up from $314.0 million in 1Q17. The company’s net interest income was positively impacted in 1Q18 by an increase in its average customer margin loans and credit loans. The Electronic Brokerage segment’s commission revenues reported a year-over-year (or YoY) rise in 1Q18 due to upward movement in its customer volumes.
Can LyondellBasell Beat 1Q18 Earnings Estimates? The number of analysts tracking LyondellBasell (LYB) since its previous earnings has come down from 24 to 23. The analyst consensus target price for LyondellBasell is $116.82, implying a return potential of 8.5% over the closing price of $107.68 as of April 20, 2018.
Interactive Brokers Group’s (IBKR) EV-to-EBITDA ratio stood at ~19.3x on an NTM (next-12-months) basis, which indicates that the company has discounted valuations. The average of other industry players is ~35.7x.
The property was sold for $250 million to a joint venture between Blatteis & Schnur and Morgan Stanley Real Estate last year.
Morgan Stanley today announced a new commitment to provide $250Bn in low-carbon financing by 2030. Contributing to this commitment are the Firm’s activities in clean-tech and renewable energy financing, sustainable bonds and other transactions that enable low-carbon solutions.
First-quarter earnings season kicked off with the latest reports from the big banks. As you can see in the chart below, the SPDR Bank ETF (NYSEARCA:KBE) is still stuck at support near $47 per share. Often, we can attribute the lack of positive movement following an earnings surprise to a “buy the rumor, sell the news” situation, but that seems like a stretch considering that the last time investors pushed bank stocks higher was in January.
The markets haven’t been so bad lately. But it has been an entirely different story for Apple Inc. (NASDAQ:AAPL) stock. Apple stock has fallen more than 6% over the past few days thanks to renewed concerns regarding the iPhone X.
The six big US banks (XLF) (VFH)—JPMorgan Chase (JPM), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), and Bank of America (BAC)—posted record profits in 1Q18 due to tax savings under the new tax law. According to an Associated Press estimate, the six banks saved at least $3.59 billion last quarter due to the new tax law.
Charles Schwab (SCHW) has a price-to-earnings ratio of 20.80x on an NTM (next-12-month) basis, which implies a premium valuation, as the average for competitors is 11.30x. Morgan Stanley (MS), Wells Fargo (WFC), and Raymond James Financial (RJF) have price-to-earnings ratios of 11.26x, 10.55x, and 12.10x, respectively, on an NTM basis.
Charles Schwab’s (SCHW) total expenses excluding interest amounted to $1.4 billion in 1Q18, which implies a rise sequentially and YoY (year-over-year). Charles Schwab’s compensation and benefits expenses amounted to $770 million in 1Q18 compared to $711 million in 4Q17, which implies an 8% increase. Charles Schwab incurred professional services expenses amounting to $156 million in 1Q18, while in 1Q17, it incurred $133 million, a rise of 17%.
Charles Schwab (SCHW) posted earnings per share (or EPS) of $0.55 in 1Q18, which exceeded expectations by $0.02. Brokerages (XLF) have benefitted from market volatility, as it prompts customers to increase trading activity.
Morgan Stanley (MS) stock has fallen 4.6% over the past three months and risen 28.7% over the past year. In comparison, the overall sector (XLF) has fallen 6.4% and risen 19.1%, respectively. The bank’s asset management offerings, interest income, and consistent trading revenue have continued to support its strong performance.
Wall Street analysts were upbeat about investment bankers (XLF) in 1Q18 due to an expected spike in trading. Major banks managed to beat estimates and the overall forecast for 2Q18 is lower.
Morgan Stanley’s (MS) total assets under management rose 8% YoY (year-over-year) to $2.4 trillion on March 31, 2018, helped by a higher valuation of holdings and flow. Quarter-over-quarter, its total assets under management were flat, reflecting lower valuation increases and offset by new, long-term flow.
Morgan Stanley (MS) benefited from higher volatility and posted strong operating numbers. The bank’s Institutional Securities segment posted net income of $2.1 billion, compared with $1.7 billion in 1Q17. The segment’s top line rose to $6.1 billion from $5.2 billion in 1Q17, largely due to sales and trading amid higher market volatility.
The Republican tax overhaul, passed in December, has saved some of America's largest corporations billions in taxes. Financial institutions, among the first companies that typically ring in the corporate earnings season in the U.S., have historically paid some of the highest taxes due to their domestically centered business models. America's leading banks such as JPMorgan Chase & Co. ( JPM), Goldman Sachs Group Inc. ( GS) and Morgan Stanley ( MS) saw their tax rates fall below 17% and 23% for the January through March quarter.
Morgan Stanley reported its results for the first quarter earlier this week, and the investment banking giant exceeded investor expectations by a big margin as it churned out the best ever quarterly income figure in its history.
Morgan Stanley (MS) posted EPS (earnings per share) of $1.45 in 1Q18, higher than analysts’ estimate of $1.25 and its EPS of $1 in 1Q17. The investment bank benefited from market volatility and higher trading revenue across product offerings. It posted net revenue of $11.1 billion and net income of $2.6 billion, representing growth of 14% and 40%, respectively, helped by lower tax, higher trading, and improved efficiency.
Apr.25 -- Michael Kushma, Morgan Stanley Investment Management global fixed-income CIO, discusses U.S. Treasury yields, emerging-market debt and where he's seeing investment opportunities with Bloomberg's Betty Liu and Yvonne Man on "Bloomberg Daybreak: Asia."
Apr.25 -- Ellen Zentner, Morgan Stanley chief U.S. economist, discusses 3% yield and her outlook on inflation. She speaks with Bloomberg's Tom Keene on "Bloomberg Surveillance." (Corrects spelling of guest's last name in description.)
Apr.23 -- Morgan Stanley Interest-Rate Strategy Global Co-Head Matthew Hornbach and BlackRock Portfolio Manager Tony Despirito discuss the 10-year U.S. Treasury yield approaching 3 percent. They speak on "Bloomberg Markets: The Open."