Morgan Stanley (MS) Receives “Hold” Rating from Berenberg Bank
Berenberg Bank restated their hold rating on shares of Morgan Stanley (NYSE:MS) in a research report released on Thursday. Berenberg Bank currently has a $40.00 price objective on the financial services provider’s stock.
A number of other research firms also recently weighed in on MS. Wells Fargo & Company began coverage on shares of Morgan Stanley in a research report on Wednesday, August 9th. They set a market perform rating and a $48.00 target price for the company. BMO Capital Markets increased their target price on shares of Morgan Stanley from $58.00 to $61.00 and gave the company an outperform rating in a research report on Thursday, July 20th. Macquarie reissued an outperform rating and set a $52.00 target price (up previously from $51.00) on shares of Morgan Stanley in a research report on Saturday, July 22nd. Credit Suisse Group reissued a neutral rating and set a $49.00 target price (up previously from $47.00) on shares of Morgan Stanley in a research report on Saturday, July 22nd. Finally, Zacks Investment Research raised shares of Morgan Stanley from a sell rating to a hold rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $48.11.
Morgan Stanley (NYSE:MS) opened at 48.22 on Thursday. Morgan Stanley has a 1-year low of $30.62 and a 1-year high of $48.90. The company has a market cap of $88.56 billion, a price-to-earnings ratio of 13.81 and a beta of 1.63. The company’s 50-day moving average is $46.13 and its 200 day moving average is $44.52.
Morgan Stanley (NYSE:MS) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The business had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $9.05 billion. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, equities analysts predict that Morgan Stanley will post $3.49 EPS for the current fiscal year.
Morgan Stanley announced that its board has approved a share buyback program on Wednesday, June 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 6.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, Chairman James P. Gorman sold 212,366 shares of Morgan Stanley stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total value of $10,036,417.16. Following the completion of the sale, the chairman now owns 1,602,609 shares of the company’s stock, valued at approximately $75,739,301.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $46.68, for a total value of $1,202,803.56. Following the completion of the sale, the chief financial officer now directly owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Davidson Investment Advisors grew its holdings in Morgan Stanley by 2.6% during the 1st quarter. Davidson Investment Advisors now owns 291,525 shares of the financial services provider’s stock valued at $12,486,000 after buying an additional 7,462 shares in the last quarter. Westpac Banking Corp boosted its position in shares of Morgan Stanley by 28.5% during the 1st quarter. Westpac Banking Corp now owns 330,925 shares of the financial services provider’s stock valued at $9,425,000 after acquiring an additional 73,424 shares during the last quarter. Davidson & Garrard Inc. boosted its position in shares of Morgan Stanley by 2.2% during the 2nd quarter. Davidson & Garrard Inc. now owns 5,525 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 120 shares during the last quarter. Calamos Wealth Management LLC bought a new stake in shares of Morgan Stanley during the 2nd quarter valued at about $1,412,000. Finally, SG Americas Securities LLC boosted its position in shares of Morgan Stanley by 113.2% during the 1st quarter. SG Americas Securities LLC now owns 206,426 shares of the financial services provider’s stock valued at $8,843,000 after acquiring an additional 1,773,467 shares during the last quarter. 85.18% of the stock is owned by institutional investors and hedge funds.
About Morgan Stanley
Morgan Stanley is a financial holding company. The Company’s segments include Institutional Securities, Wealth Management and Investment Management. The Company’s Institutional Securities business segment provides investment banking, sales and trading, and other services to corporations, governments, financial institutions and high-to-ultra high net worth clients.
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