Zacks Investment Research upgraded shares of Morgan Stanley (NYSE:MS) from a hold rating to a buy rating in a research note released on Wednesday. They currently have $36.00 price target on the financial services provider’s stock.
According to Zacks, “Earnings estimates have been rising ahead of Morgan Stanley's third-quarter 2016 results. Further, the company has a positive record of earnings surprises in recent quarters. The company’s efforts to offload its non-core assets to lower balance-sheet risks, control expenses and shift focus toward less capital-incentive businesses are commendable. In addition, the company has significantly diversified its footprints and product portfolio. Also, top line growth is likely to be driven by improvement in net interest income and steady rise in fixed income trading revenue. However, equity trading income distress may continue owing to macroeconomic headwinds and lower level of client activity. Further, concerns related to new regulatory requirements and intense pricing competition make us apprehensive.”
Several other equities research analysts also recently commented on MS. Barclays PLC reaffirmed a hold rating on shares of Morgan Stanley in a report on Saturday, July 9th. Deutsche Bank AG reaffirmed a hold rating on shares of Morgan Stanley in a report on Sunday, June 26th. Vetr raised shares of Morgan Stanley from a sell rating to a hold rating and set a $26.38 price objective on the stock in a report on Wednesday, July 13th. RBC Capital Markets set a $32.00 price objective on shares of Morgan Stanley and gave the company a buy rating in a report on Thursday, July 21st. Finally, Berenberg Bank began coverage on shares of Morgan Stanley in a report on Wednesday, July 13th. They set a hold rating and a $29.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $32.41.
Shares of Morgan Stanley (NYSE:MS) traded down 0.92% during midday trading on Wednesday, hitting $32.26. 6,238,937 shares of the company traded hands. The stock has a market capitalization of $61.67 billion, a PE ratio of 14.92 and a beta of 2.09. The stock has a 50 day moving average of $31.55 and a 200-day moving average of $27.92. Morgan Stanley has a 52 week low of $21.16 and a 52 week high of $35.74.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.16. The company earned $8.91 billion during the quarter, compared to analyst estimates of $8.30 billion. Morgan Stanley had a net margin of 13.27% and a return on equity of 6.41%. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. Equities analysts forecast that Morgan Stanley will post $2.51 earnings per share for the current fiscal year.
In other news, major shareholder Stanley Morgan sold 357 shares of Morgan Stanley stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $23,750.00, for a total value of $8,478,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donald T. Nicolaisen sold 3,302 shares of Morgan Stanley stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $27.88, for a total value of $92,059.76. Following the completion of the sale, the director now owns 91,704 shares of the company’s stock, valued at $2,556,707.52. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in MS. Virginia Retirement System acquired a new stake in Morgan Stanley during the first quarter valued at approximately $589,000. Ngam Advisors L.P. increased its stake in Morgan Stanley by 9.2% in the first quarter. Ngam Advisors L.P. now owns 254,691 shares of the financial services provider’s stock valued at $6,370,000 after buying an additional 21,376 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Morgan Stanley during the first quarter valued at approximately $284,000. Nikko Asset Management Americas Inc. increased its stake in Morgan Stanley by 115.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 20,000 shares of the financial services provider’s stock valued at $501,000 after buying an additional 10,700 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Morgan Stanley during the first quarter valued at approximately $8,571,000. Institutional investors own 83.64% of the company’s stock.
About Morgan Stanley
Morgan Stanley is a financial holding company. The Company is a global financial services firm that, through its subsidiaries and affiliates, advises, and originates, trades, manages and distributes capital for, governments, institutions and individuals. Its segments include Institutional Securities, Wealth Management and Investment Management.
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