Morgan Stanley Given Neutral Rating at Zacks (MS)
Morgan Stanley (NYSE:MS)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Monday, Stock Ratings News reports. They currently have a $31.00 target price on the stock. Zacks‘ price target would suggest a potential upside of 4.41% from the stock’s previous close.
Zacks‘ analyst wrote, “Morgan Stanley’s third-quarter 2013 earnings from continuing operations outpaced the Zacks Consensus Estimate. Results were driven by a rise in revenues and lower-than-expected expenses. Additionally, growth in net revenue across all segments and improved asset position were the tailwinds. However, lower client activity and a decline in market volumes for all products led to a fall in Fixed Income & Commodities sales and trading results. Further, deterioration in capital ratios was a dampener. After analyzing the results, we are maintaining our long-term Neutral recommendation on the stock.”
Shares of Morgan Stanley (NYSE:MS) traded down 0.89% on Monday, hitting $29.427. 7,206,396 shares of the company’s stock traded hands. Morgan Stanley has a one year low of $15.95 and a one year 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 $57.714 billion and a price-to-earnings ratio of 18.43. Morgan Stanley also saw unusually large options trading activity on Friday. Investors bought 45,700 call options on the stock. This represents an increase of 317% compared to the average daily volume of 10,956 call options.
Morgan Stanley (NYSE:MS) last released its earnings data on Friday, October 18th. The company reported $0.50 earnings per share for the quarter, beating the analysts’ 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 prior year, the company posted ($0.55) earnings per share. The company’s quarterly revenue was up 50.0% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, October 29th.
MS has been the subject of a number of other recent research reports. Analysts at UBS AG raised their price target on shares of Morgan Stanley from $33.00 to $37.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Morgan Stanley from $26.00 to $28.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Morgan Stanley in a research note to investors on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. Morgan Stanley currently has an average rating of “Hold” and an average price target of $27.89.
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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