Morgan Stanley (NYSE:MS) and U.S. Bancorp (NYSE:USB) are predicted to soon report for the second quarter of fiscal year 2017 (2QFY17). The two companies are expected to report before the opening bell on Wednesday, July 19. Consistent with MS and USB’s previous beat trends, analysts anticipates both companies to once again outperform Wall Street forecasts on top and bottom line this season.
Morgan Stanley (NYSE:MS)
According to FactSet data, consensus predicts Morgan Stanley to report $0.76 in earnings per share (EPS) for 2QFY17. While the estimate indicates growth of one cent on year-over-year (YoY) basis, it represents 24% quarter-over-quarter (QoQ) decline on bottom line. Nonetheless, Earningswhispers.com predicts the New York-based bank to report higher EPS of $0.78 this season.
Furthermore, the consensus also anticipates Morgan Stanley to announce $9.28 billion revenues for the season, higher than 2QFY16 net sales of $8.91 billion. However, the estimate implies that MS’s top line is likely to compress 14.83% QoQ this season. In contrast, Estimize.com projects the $84.09 billion company to announce $9.41 billion revenues for the quarter ended on June 30.
U.S. Bancorp (USB)
Wall Street analysts predict U.S. Bancorp to publish $0.84 EPS for the second quarter, higher than 2QFY16 EPS of $0.82. Interestingly, the Minnesota-based company also reported earnings of $0.82 per share for the quarter ended on March 31. In comparison, Earningswhispers.com has higher expectations and projects USB to report $0.86 in EPS this season.
According to Thomson Reuters’ data, consensus forecasts U.S. Bancorp to deliver $5.46 billion revenues for the season, slightly higher than prior year period’s net sales of $5.45 billion. However, the estimate suggests 4.23% QoQ decline on the $87.6 billion company’s top line. In contrast, Estimize.com calls for slightly higher revenues than Street expectations and has published an estimate of $5.49 billion, still underperforming UBS’s previous quarter performance.