Zacks Reaffirms “Neutral” Rating for Morgan Stanley (MS)
Morgan Stanley (NYSE:MS)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Tuesday. They currently have a $36.00 price target on the stock. Zacks‘s target price suggests a potential upside of 4.93% from the company’s current price.
Zacks’ analyst wrote, “Morgan Stanley’s second-quarter 2014 adjusted earnings from continuing operations (restated) outpaced the Zacks Consensus Estimate, primarily driven by growth in net interest income, stable fee income and marginally lower operating expenses. However, lower fixed-income, FICC trading income dented the results. We believe that the company’s restructuring initiatives as well as organic and inorganic expansion plans will continue to be significant growth drivers. Additionally, enhanced capital deployment activities reflect a solid balance sheet position. Nevertheless, there are concerns about the company’s financials being pressurized by the new capital requirements, elevated costs and an intense pricing competition.”
Morgan Stanley (NYSE:MS) traded up 0.29% on Tuesday, hitting $34.41. The stock had a trading volume of 2,003,739 shares. Morgan Stanley has a 52 week low of $25.95 and a 52 week high of $34.57. The stock’s 50-day moving average is $32.63 and its 200-day moving average is $31.39. The company has a market cap of $67.559 billion and a P/E ratio of 16.14.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings data on Thursday, July 17th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.33. The company had revenue of $8.50 million for the quarter, compared to the consensus estimate of $8.41 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts expect that Morgan Stanley will post $2.41 EPS for the current fiscal year.
In other Morgan Stanley news, CFO Paul C. Wirth sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $34.44, for a total transaction of $344,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on MS. Analysts at Argus raised their price target on shares of Morgan Stanley from $35.00 to $42.00 in a research note on Tuesday, July 22nd. They now have a “buy” rating on the stock. Separately, analysts at Nomura raised their price target on shares of Morgan Stanley from $36.00 to $37.00 in a research note on Monday, July 21st. They now have a “buy” rating on the stock. Finally, analysts at Macquarie reiterated an “outperform” rating on shares of Morgan Stanley in a research note on Friday, July 18th. They now have a $37.00 price target on the stock, up previously from $36.00. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $34.76.
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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