Morgan Stanley (MS) Lifted to “Buy” at HSBC Holdings plc
Morgan Stanley (NYSE:MS) was upgraded by analysts at HSBC Holdings plc from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a $53.00 price objective on the financial services provider’s stock. HSBC Holdings plc’s price objective would suggest a potential upside of 13.73% from the company’s previous close.
Other research analysts have also issued reports about the stock. BMO Capital Markets lifted their price objective on shares of Morgan Stanley from $58.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. ValuEngine lowered shares of Morgan Stanley from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Instinet reiterated a “buy” rating and issued a $50.00 price objective (down from $51.00) on shares of Morgan Stanley in a research note on Saturday, June 3rd. Buckingham Research restated a “buy” rating and set a $54.00 price target (up from $51.00) on shares of Morgan Stanley in a research report on Monday, July 10th. Finally, Zacks Investment Research lowered shares of Morgan Stanley from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.48.
Morgan Stanley (NYSE:MS) traded up 0.39% during mid-day trading on Friday, reaching $46.60. The company had a trading volume of 9,113,079 shares. Morgan Stanley has a one year low of $30.62 and a one year high of $48.90. The stock has a 50 day moving average price of $46.09 and a 200 day moving average price of $44.54. The company has a market capitalization of $85.58 billion, a P/E ratio of 13.35 and a beta of 1.63.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $9.05 billion. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. Morgan Stanley’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, equities analysts expect that Morgan Stanley will post $3.50 earnings per share for the current fiscal year.
Morgan Stanley declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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In related news, CFO Jonathan Pruzan sold 25,767 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following the completion of the transaction, the chief financial officer now directly owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman James P. Gorman sold 212,366 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the transaction, the chairman now directly owns 1,602,609 shares of the company’s stock, valued at $75,739,301.34. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
Several large investors have recently modified their holdings of MS. Parkside Financial Bank & Trust grew its stake in shares of Morgan Stanley by 9.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider’s stock worth $101,000 after buying an additional 190 shares in the last quarter. Invictus RG bought a new stake in Morgan Stanley during the 1st quarter valued at about $106,000. V Wealth Management LLC bought a new stake in Morgan Stanley during the 2nd quarter valued at about $106,000. Omnia Family Wealth LLC lifted its holdings in Morgan Stanley by 5.8% during the 2nd 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 in the last quarter. Finally, WFG Advisors LP lifted its holdings in Morgan Stanley by 45.4% during the 2nd 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 in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.
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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