MS stock is now trading for $56.70 following the release of the results. Oppenheimer has a "Outperform" rating and a $612.00 price target on the stock.
Several other research firms also recently commented on MS. BNP Paribas initiated coverage on Morgan Stanley in a research note on Tuesday, December 3rd. Sandler O'Neill upgraded shares of Morgan Stanley from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research note on Thursday, October 10th. Roth Capital reissued a "sell" rating and set a $249.00 price target on shares of Tesla in a research report on Monday, November 18th.
Morgan Stanley was able to recognize performance fees and gains in the quarter from the stake, Bloomberg reported. The company's 50 day simple moving average is $34.58 and its 200-day simple moving average is $29.77.
Advancing issues outnumbered declining ones on the NYSE by a 2.57-to-1 ratio; on Nasdaq, a 2.78-to-1 ratio favoured advancers. The firm has a market capitalization of $92.55 billion, a price-to-earnings ratio of -89.77, a PEG ratio of 4.87 and a beta of 0.64. Morgan Stanley has a 52 week low of $38.76 and a 52 week high of $57.36. Insiders have sold a total of 98,531 shares of company stock worth $33,791,753 in the last quarter.
Morgan Stanley saw topline growth of 27.0% to reach $10.86bn (consensus: $9.77bn), as revenues from fixed income trading more than doubled, from $564.0m to $1.273.0bn, reversing the end-2018 slump. Morgan Stanley had a return on equity of 10.86% and a net margin of 15.99%.
Volume on USA exchanges was 6.9 billion shares, compared with an average of 7.0 billion shares over the last 20 trading days.
That branch of the bank nearly doubled its revenue from past year to US$1.36 billion, beating the estimate of US$783.2 million by more than half. As a group, sell-side analysts expect that Morgan Stanley will post 4.75 EPS for the current fiscal year. Also, insider Jerome M. Guillen sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $49.08, for a total value of $1,227,000.00. "We have become incrementally cautious on the stock, given its huge recent surge in price", Bernstein analyst Toni Sacconaghi warned investors in a note last Thursday, despite not having issued a downgrade. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
China reports 2nd death from Wuhan pneumonia virus
There are fears the mysterious SARS-linked virus could hit Bali after a second case was reported in Thailand on Friday. Investigations are ongoing to establish whether their illnesses are linked to the Wuhan disease cluster, MOH said.