Morgan Stanley Price Target Raised to $28.00 at Credit Suisse (MS)
Investment analysts at Credit Suisse lifted their price target on shares of Morgan Stanley (NYSE:MS) from $26.00 to $28.00 in a note issued to investors on Friday, ARN reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s price target points to a potential downside of 5.69% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “hold” rating on shares of Morgan Stanley in a research note to investors on Wednesday. Finally, analysts at ISI Group initiated coverage on shares of Morgan Stanley in a research note to investors on Tuesday, October 8th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $27.20.
Morgan Stanley (NYSE:MS) traded up 2.63% during mid-day trading on Friday, hitting $29.69. The stock had a trading volume of 32,414,104 shares. Morgan Stanley has a 52 week low of $15.95 and a 52 week high of $29.97. The stock’s 50-day moving average is $27.58 and its 200-day moving average is $25.53. The company has a market cap of $58.149 billion and a P/E ratio of 44.85. Morgan Stanley also saw unusually large options trading on Thursday. Stock investors acquired 24,415 put options on the company. This is an increase of approximately 179% compared to the typical daily volume of 8,750 put options.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter in the previous year, the company posted ($0.55) earnings per share. The company’s revenue for the quarter was up 50.0% on a year-over-year basis. Analysts expect that Morgan Stanley will post $1.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Tuesday, October 29th.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals.
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