Oppenheimer Holdings Equities Analysts Lift Earnings Estimates for Morgan Stanley (MS)
Morgan Stanley (NYSE:MS) – Investment analysts at Oppenheimer Holdings lifted their FY2017 earnings estimates for shares of Morgan Stanley in a report issued on Tuesday. Oppenheimer Holdings analyst C. Kotowski now expects that the financial services provider will post earnings per share of $3.65 for the year, up from their prior forecast of $3.47. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Morgan Stanley’s FY2018 earnings at $3.98 EPS.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.81 by $0.12. The business had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.05 billion. Morgan Stanley had a net margin of 16.76% and a return on equity of 10.11%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share.
A number of other research firms have also recently issued reports on MS. BMO Capital Markets increased their target price on Morgan Stanley from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. J P Morgan Chase & Co set a $53.00 price target on Morgan Stanley and gave the stock a “buy” rating in a research report on Friday, September 15th. Barclays PLC upped their price target on Morgan Stanley from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Berenberg Bank reaffirmed a “hold” rating and set a $40.00 price target on shares of Morgan Stanley in a research report on Thursday, September 21st. Finally, ValuEngine downgraded Morgan Stanley from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Morgan Stanley presently has a consensus rating of “Buy” and an average target price of $50.39.
Morgan Stanley (NYSE:MS) traded up 1.034% during mid-day trading on Friday, hitting $50.305. 1,405,955 shares of the company traded hands. The company has a market capitalization of $91.15 billion, a price-to-earnings ratio of 13.970 and a beta of 1.61. Morgan Stanley has a one year low of $32.54 and a one year high of $50.50. The company’s 50-day moving average price is $47.67 and its 200 day moving average price is $45.20.
Institutional investors have recently made changes to their positions in the business. Davidson Investment Advisors increased its position in Morgan Stanley by 2.6% during the 1st quarter. Davidson Investment Advisors now owns 291,525 shares of the financial services provider’s stock worth $12,486,000 after buying an additional 7,462 shares during the period. Westpac Banking Corp increased its position in Morgan Stanley by 28.5% during the 1st quarter. Westpac Banking Corp now owns 330,925 shares of the financial services provider’s stock worth $9,425,000 after buying an additional 73,424 shares during the period. Davidson & Garrard Inc. increased its position in Morgan Stanley by 2.2% during the 2nd quarter. Davidson & Garrard Inc. now owns 5,525 shares of the financial services provider’s stock worth $246,000 after buying an additional 120 shares during the period. Calamos Wealth Management LLC bought a new position in Morgan Stanley during the 2nd quarter worth $1,412,000. Finally, Robeco Institutional Asset Management B.V. increased its position in Morgan Stanley by 22.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 346,677 shares of the financial services provider’s stock worth $15,449,000 after buying an additional 63,755 shares during the period. 85.17% of the stock is owned by institutional investors and hedge funds.
In other Morgan Stanley news, Chairman James P. Gorman sold 212,366 shares of the firm’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 sale, the chairman now owns 1,602,609 shares of the company’s stock, valued at approximately $75,739,301.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.01%. The ex-dividend date is Monday, October 30th. Morgan Stanley’s dividend payout ratio is 27.70%.
Morgan Stanley declared that its board has authorized a stock repurchase program 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 reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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