Morgan Stanley (NYSE:MS)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Friday, AnalystRatingsNetwork reports. They currently have a $32.00 price target on the stock. Zacks‘ target price suggests a potential upside of 5.06% from the stock’s previous close.
Zacks‘ analyst wrote, “Morgan Stanley’s third-quarter 2013 earnings from continuing operations came in well ahead of the Zacks Consensus Estimate, driven by a rise in revenues and lower-than-expected expenses. However, reduced client activity and a decline in market volumes for all products led to a fall in Fixed Income & Commodities sales and trading results. Deterioration in capital ratios was also a dampener. We believe that the company’s restructuring initiatives as well as organic and inorganic expansion plans will continue to be significant growth drivers. Additionally, full control over MSWM will enable it to drive revenues further. Moreover, the approval of Morgan Stanley’s share buyback program reflects its solid capital position. However, there are concerns about the company’s financials being affected by the new capital requirements, increased costs and an intense pricing competition.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank downgraded shares of Morgan Stanley from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. They now have a $30.00 price target on the stock, down previously from $31.00. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Morgan Stanley in a research note to investors on Tuesday. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Morgan Stanley in a research note to investors on Monday, November 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Morgan Stanley currently has an average rating of “Hold” and a consensus price target of $30.32.
Morgan Stanley (NYSE:MS) traded up 0.83% during mid-day trading on Friday, hitting $30.46. 12,761,413 shares of the company’s stock traded hands. Morgan Stanley has a one year low of $16.80 and a one year high of $31.85. The stock’s 50-day moving average is $29.97 and its 200-day moving average is $27.37. The company has a market cap of $59.438 billion and a price-to-earnings ratio of 18.76. Morgan Stanley also was the recipient of some unusual options trading on Tuesday. Traders bought 18,296 put options on the stock. This represents an increase of 265% compared to the typical daily volume of 5,018 put options.
Morgan Stanley (NYSE:MS) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter in the previous year, the company posted ($0.55) earnings per share. The company’s revenue for the quarter was up 50.0% on a year-over-year basis. On average, analysts predict that Morgan Stanley will post $2.03 earnings per share for the current fiscal year.
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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