MSCI Inc. (MSCI) Upgraded to “Buy” at Zacks Investment Research
MSCI Inc. (NYSE:MSCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $90.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.11% from the stock’s current price.
According to Zacks, “MSCI Inc. is a leading provider of investment decision support tools to investment institutions worldwide. MSCI Inc. products include indices and portfolio analytics for use in managing equity, fixed income and multi-asset class portfolios. “
Several other research firms have also recently weighed in on MSCI. Cantor Fitzgerald reiterated a “buy” rating on shares of MSCI in a report on Friday, August 19th. Credit Suisse Group AG set a $94.00 price objective on MSCI and gave the stock a “buy” rating in a report on Monday, October 3rd. Finally, Evercore ISI cut MSCI from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $81.00 to $75.00 in a report on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $82.17.
Shares of MSCI (NYSE:MSCI) opened at 80.28 on Tuesday. The company’s 50-day moving average price is $80.78 and its 200 day moving average price is $81.69. The company has a market cap of $7.56 billion, a P/E ratio of 31.56 and a beta of 1.00. MSCI has a one year low of $62.17 and a one year high of $90.79.
MSCI (NYSE:MSCI) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. MSCI had a return on equity of 43.72% and a net margin of 22.29%. The business earned $288.43 million during the quarter, compared to analysts’ expectations of $288.96 million. During the same quarter last year, the business posted $0.60 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that MSCI will post $2.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, November 14th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, November 9th. MSCI’s payout ratio is 44.09%.
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In other MSCI news, COO Cd Baer Pettit sold 2,087 shares of MSCI stock in a transaction on Monday, November 7th. The stock was sold at an average price of $80.50, for a total transaction of $168,003.50. Following the completion of the transaction, the chief operating officer now owns 201,783 shares in the company, valued at $16,243,531.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick Tierney sold 3,500 shares of MSCI stock in a transaction on Monday, October 31st. The stock was sold at an average price of $80.39, for a total value of $281,365.00. Following the completion of the sale, the director now directly owns 13,242 shares of the company’s stock, valued at approximately $1,064,524.38. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. AMP Capital Investors Ltd acquired a new stake in MSCI during the first quarter worth approximately $1,730,000. Legal & General Group Plc raised its stake in MSCI by 96.1% in the first quarter. Legal & General Group Plc now owns 64,519 shares of the company’s stock worth $4,778,000 after buying an additional 31,625 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in MSCI by 57.5% in the first quarter. Envestnet Asset Management Inc. now owns 14,860 shares of the company’s stock worth $1,101,000 after buying an additional 5,423 shares during the last quarter. LPL Financial LLC acquired a new stake in MSCI during the first quarter worth approximately $1,037,000. Finally, Arizona State Retirement System raised its stake in MSCI by 1.9% in the first quarter. Arizona State Retirement System now owns 48,814 shares of the company’s stock worth $3,616,000 after buying an additional 900 shares during the last quarter. 94.43% of the stock is owned by institutional investors and hedge funds.
MSCI Inc (MSCI), together with its subsidiaries, offers content, applications and services to support the needs of institutional investors throughout their investment processes. The Company’s operating segment includes Index, Analytics and All Other segment. All Other segment comprises ESG and Real Estate segments.
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