Erste Group Bank downgraded shares of Morgan Stanley (NYSE:MS – Free Report) from a buy rating to a hold rating in a research report released on Thursday morning, Marketbeat reports.
MS has been the subject of a number of other research reports. HSBC upped their price objective on shares of Morgan Stanley from $215.00 to $219.00 and gave the company a “hold” rating in a research note on Monday, September 28th. The Goldman Sachs Group lifted their target price on shares of Morgan Stanley from $211.00 to $233.00 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Weiss Ratings raised shares of Morgan Stanley from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Bank of America upped their price target on shares of Morgan Stanley from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Evercore reaffirmed an “outperform” rating on shares of Morgan Stanley in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $219.43.
Read Our Latest Stock Report on MS
Morgan Stanley Stock Performance
Morgan Stanley (NYSE:MS – Get Free Report) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.57. The business had revenue of $21.35 billion during the quarter, compared to analyst estimates of $19.67 billion. Morgan Stanley had a return on equity of 19.31% and a net margin of 15.65%. Morgan Stanley’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 earnings per share. On average, sell-side analysts predict that Morgan Stanley will post 12.66 earnings per share for the current fiscal year.
Morgan Stanley declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 24th that permits the company to buy back $20.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 5.6% of its shares through open market purchases. Share repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
Morgan Stanley Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $1.15 dividend. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Morgan Stanley’s previous quarterly dividend of $1.00. This represents a $4.60 annualized dividend and a dividend yield of 2.4%. Morgan Stanley’s payout ratio is presently 37.19%.
Institutional Investors Weigh In On Morgan Stanley
Institutional investors have recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. increased its position in shares of Morgan Stanley by 0.5% in the third quarter. Valley Wealth Managers Inc. now owns 167,020 shares of the financial services provider’s stock valued at $31,413,000 after acquiring an additional 790 shares during the period. Castleview Partners LLC raised its stake in shares of Morgan Stanley by 11.4% during the third quarter. Castleview Partners LLC now owns 4,095 shares of the financial services provider’s stock valued at $770,000 after acquiring an additional 420 shares during the last quarter. Riversedge Advisors LLC boosted its holdings in shares of Morgan Stanley by 10.3% during the third quarter. Riversedge Advisors LLC now owns 1,855 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 173 shares during the period. Wedmont Private Capital boosted its holdings in shares of Morgan Stanley by 9.5% during the third quarter. Wedmont Private Capital now owns 15,935 shares of the financial services provider’s stock worth $2,987,000 after purchasing an additional 1,384 shares during the period. Finally, Journey Retirement Planning & Investment Management LLC grew its stake in shares of Morgan Stanley by 11.4% in the third quarter. Journey Retirement Planning & Investment Management LLC now owns 1,638 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.
Morgan Stanley News Roundup
Here are the key news stories impacting Morgan Stanley this week:
- Positive Sentiment: Options traders purchased approximately 26,930 MS call contracts, well above average call volume, suggesting increased short-term bullish positioning. Morgan Stanley unusual options activity
- Positive Sentiment: Jim Cramer recently backed Morgan Stanley after its pullback, highlighting the company’s buyback authorization and long-term prospects. That commentary may be supporting investor confidence, although it is not a fundamental earnings catalyst. Jim Cramer Backs Morgan Stanley After Its Pullback
- Positive Sentiment: Morgan Stanley’s proposal to convert eight Eaton Vance municipal-bond mutual funds, representing nearly $10 billion in assets, into ETFs could support its asset-management strategy and improve product efficiency if shareholders approve the transactions. Morgan Stanley Municipal Fund ETF Conversions
- Neutral Sentiment: TD Cowen initiated coverage with a Hold rating and a $210 price target, implying potential upside from the reported trading level but signaling that the firm sees balanced risk and reward. TD Cowen Initiates Morgan Stanley Coverage
- Negative Sentiment: Pre-earnings analysis points to a challenging Q3 outlook: higher costs and muted investment-banking deal activity could pressure results, even if trading revenue remains relatively strong. Morgan Stanley Stock Ahead of Q3 Earnings
- Negative Sentiment: Erste Group downgraded Morgan Stanley from Buy to Hold, adding to a more cautious analyst tone ahead of earnings. Erste Group Morgan Stanley Downgrade
About Morgan Stanley
Morgan Stanley is a global financial services firm serving corporations, governments, financial institutions, individuals and other investors. The company provides investment banking and advisory services, including mergers and acquisitions advice, equity and debt underwriting, securities sales and trading, and corporate lending.
Through its Wealth Management business, Morgan Stanley offers financial planning, brokerage, investment advisory and banking services to individual investors, businesses and institutions.
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