Morgan Stanley (MS) Stock Rating Reaffirmed by Oppenheimer Holdings, Inc.
Morgan Stanley (NYSE:MS)‘s stock had its “hold” rating reaffirmed by equities research analysts at Oppenheimer Holdings, Inc. in a report released on Tuesday.
A number of other analysts have also commented on MS. HSBC Holdings plc set a $54.00 price objective on Morgan Stanley and gave the stock a “hold” rating in a report on Friday, August 11th. Wells Fargo & Company initiated coverage on Morgan Stanley in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $48.00 target price on the stock. Credit Suisse Group upgraded Morgan Stanley from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $49.00 to $54.00 in a research note on Monday, October 9th. Berenberg Bank restated a “hold” rating and issued a $40.00 target price on shares of Morgan Stanley in a research note on Thursday, September 21st. Finally, Compass Point restated a “sell” rating and issued a $38.00 target price (up previously from $34.00) on shares of Morgan Stanley in a research note on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $49.39.
Shares of Morgan Stanley (MS) traded up 0.37% during trading on Tuesday, hitting $49.12. The stock had a trading volume of 15,535,036 shares. The company’s 50 day moving average price is $47.26 and its 200 day moving average price is $45.05. The company has a market capitalization of $90.21 billion, a price-to-earnings ratio of 14.07 and a beta of 1.61. Morgan Stanley has a 52 week low of $31.61 and a 52 week high of $50.33.
Morgan Stanley (NYSE:MS) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.12. The firm had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.05 billion. Morgan Stanley had a return on equity of 9.83% and a net margin of 16.77%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Analysts predict that Morgan Stanley will post $3.47 earnings per share for the current year.
Morgan Stanley announced that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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In other news, CFO Jonathan Pruzan sold 25,767 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $46.68, for a total value of $1,202,803.56. Following the transaction, the chief financial officer now owns 196,708 shares of the company’s stock, valued at $9,182,329.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman James P. Gorman sold 212,366 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.26, for a total transaction of $10,036,417.16. Following the completion of the transaction, the chairman now directly owns 1,602,609 shares in the company, valued at approximately $75,739,301.34. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its holdings in shares of Morgan Stanley by 9.1% in the second quarter. Parkside Financial Bank & Trust now owns 2,275 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 190 shares during the period. Invictus RG bought a new position in shares of Morgan Stanley in the first quarter worth $106,000. V Wealth Management LLC bought a new position in shares of Morgan Stanley in the second quarter worth $106,000. Omnia Family Wealth LLC increased its holdings in shares of Morgan Stanley by 5.8% in the second quarter. Omnia Family Wealth LLC now owns 2,429 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 134 shares during the period. Finally, WFG Advisors LP increased its holdings in shares of Morgan Stanley by 45.4% in the second quarter. WFG Advisors LP now owns 2,690 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 840 shares during the period. 85.17% of the stock is currently owned by hedge funds and other institutional investors.
Morgan Stanley Company Profile
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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