Zacks Investment Research Upgrades Morgan Stanley (MS) to “Buy”
Zacks Investment Research upgraded shares of Morgan Stanley (NYSE:MS) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $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.”
MS has been the topic of several other reports. JPMorgan Chase & Co. set a $32.00 price objective on Morgan Stanley and gave the stock a buy rating in a report on Thursday, September 22nd. Buckingham Research reaffirmed a buy rating on shares of Morgan Stanley in a report on Tuesday, June 21st. Royal Bank Of Canada upped their price objective on Morgan Stanley from $27.00 to $32.00 and gave the stock an outperform rating in a report on Thursday, July 21st. Wells Fargo & Co. reaffirmed a hold rating on shares of Morgan Stanley in a report on Sunday, July 10th. Finally, BMO Capital Markets set a $46.00 price objective on Morgan Stanley and gave the stock a buy rating in a report on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $32.42.
Shares of Morgan Stanley (NYSE:MS) opened at 32.56 on Wednesday. Morgan Stanley has a 52 week low of $21.16 and a 52 week high of $35.74. The company has a 50-day moving average price of $31.72 and a 200-day moving average price of $28.09. The stock has a market cap of $62.25 billion, a price-to-earnings ratio of 15.06 and a beta of 2.09.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.16. Morgan Stanley had a return on equity of 6.41% and a net margin of 13.27%. The company had revenue of $8.91 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same period in the previous year, the firm earned $0.79 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year. Equities analysts anticipate that Morgan Stanley will post $2.50 EPS for the current year.
In related news, major shareholder Stanley Morgan sold 357 shares of the company’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $23,750.00, for a total transaction of $8,478,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keishi Hotsuki sold 246,452 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $30.27, for a total value of $7,460,102.04. Following the sale, the insider now owns 455,191 shares of the company’s stock, valued at $13,778,631.57. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
Several large investors have recently modified their holdings of MS. Artemis Investment Management LLP boosted its stake in shares of Morgan Stanley by 32.1% in the second quarter. Artemis Investment Management LLP now owns 700,000 shares of the financial services provider’s stock worth $18,197,000 after buying an additional 170,000 shares during the period. Legal & General Group Plc boosted its stake in shares of Morgan Stanley by 3.9% in the first quarter. Legal & General Group Plc now owns 6,209,559 shares of the financial services provider’s stock worth $155,316,000 after buying an additional 234,207 shares during the period. Boston Advisors LLC boosted its stake in shares of Morgan Stanley by 36.8% in the second quarter. Boston Advisors LLC now owns 821,395 shares of the financial services provider’s stock worth $21,340,000 after buying an additional 220,974 shares during the period. PGGM Investments boosted its stake in shares of Morgan Stanley by 3.0% in the second quarter. PGGM Investments now owns 986,220 shares of the financial services provider’s stock worth $25,622,000 after buying an additional 28,451 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Morgan Stanley during the first quarter worth $1,021,000. Hedge funds and other 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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