BMO Capital Markets Reiterates Top Pick Rating for Morgan Stanley (MS)
Morgan Stanley (NYSE:MS)‘s stock had its “top pick” rating restated by equities research analysts at BMO Capital Markets in a research note issued on Wednesday. They presently have a $69.00 price target on the financial services provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 38.58% from the company’s previous close.
Several other brokerages have also weighed in on MS. Citigroup Inc. reiterated a “neutral” rating and set a $50.00 price objective (up from $46.00) on shares of Morgan Stanley in a report on Monday, October 9th. Credit Suisse Group upgraded shares of Morgan Stanley from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $49.00 to $54.00 in a report on Monday, October 9th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Morgan Stanley in a report on Tuesday. Compass Point reiterated a “sell” rating and set a $38.00 price objective (up from $34.00) on shares of Morgan Stanley in a report on Monday, September 25th. Finally, Berenberg Bank reiterated a “hold” rating and set a $40.00 price objective on shares of Morgan Stanley in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $50.39.
Shares of Morgan Stanley (NYSE:MS) traded up 1.581% during trading on Wednesday, reaching $50.577. 3,009,590 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $47.67 and a 200-day moving average price of $45.20. The stock has a market capitalization of $91.65 billion, a price-to-earnings ratio of 14.045 and a beta of 1.61. Morgan Stanley has a 52 week low of $32.54 and a 52 week high of $50.58.
Morgan Stanley (NYSE:MS) last released its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.12. Morgan Stanley had a net margin of 16.76% and a return on equity of 10.11%. The company had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.05 billion. During the same period last year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts predict that Morgan Stanley will post $3.53 earnings per share for the current year.
Morgan Stanley declared that its board has approved a share repurchase program on Wednesday, June 28th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is 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 on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total value of $10,036,417.16. Following the completion of the transaction, the chairman now owns 1,602,609 shares of the company’s stock, valued at $75,739,301.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MS. Parkside Financial Bank & Trust boosted its holdings in Morgan Stanley by 9.1% in the second quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 190 shares during the period. Invictus RG bought a new stake in Morgan Stanley in the first quarter valued at $106,000. V Wealth Management LLC bought a new stake in Morgan Stanley in the second quarter valued at $106,000. Omnia Family Wealth LLC lifted its stake in Morgan Stanley by 5.8% in the second quarter. Omnia Family Wealth LLC now owns 2,429 shares of the financial services provider’s stock valued at $108,000 after buying an additional 134 shares during the last quarter. Finally, WFG Advisors LP lifted its stake in Morgan Stanley by 45.4% in the second quarter. WFG Advisors LP now owns 2,690 shares of the financial services provider’s stock valued at $120,000 after buying an additional 840 shares during the last quarter. 85.17% of the stock is owned by hedge funds and other institutional investors.
Morgan Stanley Company Profile
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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