Morgan Stanley’s (MS) Buy Rating Reaffirmed at Buckingham Research
Morgan Stanley (NYSE:MS)‘s stock had its “buy” rating reissued by Buckingham Research in a report issued on Monday, July 10th. They currently have a $54.00 target price on the financial services provider’s stock, up from their previous target price of $51.00. Buckingham Research’s price objective points to a potential upside of 11.78% from the stock’s current price.
Several other research firms also recently commented on MS. Vetr raised Morgan Stanley from a “sell” rating to a “hold” rating and set a $41.36 target price on the stock in a research report on Tuesday, April 4th. Zacks Investment Research raised Morgan Stanley from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, June 13th. J P Morgan Chase & Co reissued a “buy” rating on shares of Morgan Stanley in a research report on Thursday, March 30th. Royal Bank Of Canada reissued a “buy” rating and set a $50.00 price target on shares of Morgan Stanley in a research report on Tuesday, June 6th. Finally, HSBC Holdings plc reissued a “neutral” rating and set a $45.00 price target on shares of Morgan Stanley in a research report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Morgan Stanley currently has a consensus rating of “Buy” and a consensus price target of $47.61.
Shares of Morgan Stanley (MS) opened at 48.31 on Monday. The firm has a market cap of $88.89 billion, a price-to-earnings ratio of 13.83 and a beta of 1.63. Morgan Stanley has a one year low of $28.59 and a one year high of $48.40. The stock’s 50 day moving average price is $45.61 and its 200 day moving average price is $44.14. Morgan Stanley also saw some unusual options trading on Monday. Traders bought 6,765 call options on the stock. This is an increase of approximately 381% compared to the typical daily volume of 1,407 call options.
Morgan Stanley (NYSE:MS) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.05 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts anticipate that Morgan Stanley will post $3.52 earnings per share for the current fiscal year.
Morgan Stanley declared that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 6.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
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In other Morgan Stanley 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 transaction of $10,036,417.16. Following the completion of the transaction, the chairman now owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan Pruzan sold 25,767 shares of Morgan Stanley stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following the transaction, the chief financial officer now directly owns 196,708 shares in the company, valued at approximately $9,182,329.44. The disclosure for this sale can be found here. Insiders have sold a total of 450,498 shares of company stock valued at $20,356,050 in the last quarter. Company insiders own 0.24% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Morgan Stanley by 2,798.9% in the first quarter. BlackRock Inc. now owns 101,168,197 shares of the financial services provider’s stock valued at $4,334,046,000 after buying an additional 97,678,337 shares in the last quarter. FMR LLC boosted its stake in Morgan Stanley by 16.9% in the first quarter. FMR LLC now owns 46,221,986 shares of the financial services provider’s stock worth $1,980,150,000 after buying an additional 6,692,676 shares during the period. Epoch Investment Partners Inc. bought a new stake in Morgan Stanley during the first quarter worth approximately $215,402,000. Massachusetts Financial Services Co. MA boosted its stake in Morgan Stanley by 64.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,162,183 shares of the financial services provider’s stock worth $478,188,000 after buying an additional 4,380,706 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Morgan Stanley by 4.9% in the first quarter. Vanguard Group Inc. now owns 92,226,969 shares of the financial services provider’s stock worth $3,951,003,000 after buying an additional 4,331,723 shares during the period. 85.67% of the stock is currently owned by hedge funds and other institutional investors.
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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