Morgan Stanley (MS) Given a $53.00 Price Target by J P Morgan Chase & Co Analysts
Morgan Stanley (NYSE:MS) received a $53.00 price objective from equities research analysts at J P Morgan Chase & Co in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the financial services provider’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 13.73% from the stock’s current price.
A number of other brokerages have also recently issued reports on MS. Zacks Investment Research upgraded Morgan Stanley from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, June 13th. BMO Capital Markets lifted their target price on Morgan Stanley from $58.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, July 20th. ValuEngine cut Morgan Stanley from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $50.00 target price on shares of Morgan Stanley in a research report on Tuesday, June 6th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $52.00 target price (up previously from $51.00) on shares of Morgan Stanley in a research report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $48.48.
Shares of Morgan Stanley (NYSE MS) traded up 0.39% during mid-day trading on Friday, hitting $46.60. The stock had a trading volume of 9,113,004 shares. The firm has a market cap of $85.58 billion, a P/E ratio of 13.35 and a beta of 1.63. Morgan Stanley has a 12-month low of $30.62 and a 12-month high of $48.90. The company has a 50 day moving average price of $46.10 and a 200 day moving average price of $44.53.
Morgan Stanley (NYSE:MS) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.11. The business had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. Equities analysts forecast that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
Morgan Stanley declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
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In related news, CFO Jonathan Pruzan sold 25,767 shares of the business’s stock in a transaction dated 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 $9,182,329.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman James P. Gorman sold 212,366 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 1,602,609 shares in the company, valued at $75,739,301.34. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of MS. BlackRock Inc. increased its stake in Morgan Stanley by 2,798.9% during 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 acquiring an additional 97,678,337 shares during the period. Janus Henderson Group PLC increased its stake in Morgan Stanley by 5,268.0% during the second quarter. Janus Henderson Group PLC now owns 9,590,843 shares of the financial services provider’s stock valued at $427,365,000 after acquiring an additional 9,412,177 shares during the period. FMR LLC increased its stake in Morgan Stanley by 16.9% during the first quarter. FMR LLC now owns 46,221,986 shares of the financial services provider’s stock valued at $1,980,150,000 after acquiring an additional 6,692,676 shares during the period. Epoch Investment Partners Inc. bought a new position in Morgan Stanley during the first quarter valued at about $215,402,000. Finally, Lazard Asset Management LLC increased its stake in Morgan Stanley by 801.0% during the second quarter. Lazard Asset Management LLC now owns 5,321,327 shares of the financial services provider’s stock valued at $237,117,000 after acquiring an additional 4,730,704 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.
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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