Morgan Stanley (NYSE:MS) Shares Gap Up After Better-Than-Expected Earnings

Morgan Stanley (NYSE:MS) gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $86.99, but opened at $90.71. Morgan Stanley shares last traded at $89.85, with a volume of 5,304,411 shares changing hands.

The financial services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.30. The business had revenue of $15.14 billion during the quarter, compared to analysts’ expectations of $14.42 billion. Morgan Stanley had a net margin of 9.49% and a return on equity of 10.36%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.70 EPS.

Analyst Ratings Changes

A number of research firms have weighed in on MS. HSBC boosted their target price on shares of Morgan Stanley from $96.00 to $100.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Evercore ISI boosted their target price on shares of Morgan Stanley from $97.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. BMO Capital Markets boosted their target price on shares of Morgan Stanley from $106.00 to $107.00 and gave the stock an “outperform” rating in a report on Wednesday, January 17th. Barclays boosted their target price on shares of Morgan Stanley from $102.00 to $116.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 target price on shares of Morgan Stanley in a report on Wednesday, March 27th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Morgan Stanley has a consensus rating of “Hold” and a consensus target price of $95.66.

Insider Activity at Morgan Stanley

In other Morgan Stanley news, Chairman James P. Gorman sold 50,000 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $87.93, for a total transaction of $4,396,500.00. Following the transaction, the chairman now owns 400,000 shares in the company, valued at $35,172,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Morgan Stanley news, Chairman James P. Gorman sold 50,000 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $87.93, for a total transaction of $4,396,500.00. Following the transaction, the chairman now owns 400,000 shares in the company, valued at $35,172,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Raja Akram sold 7,000 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $83.56, for a total transaction of $584,920.00. Following the transaction, the chief financial officer now owns 97,634 shares in the company, valued at approximately $8,158,297.04. The disclosure for this sale can be found here. Insiders have sold 208,155 shares of company stock worth $18,149,314 in the last quarter. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. CGC Financial Services LLC raised its holdings in shares of Morgan Stanley by 5,200.0% in the fourth quarter. CGC Financial Services LLC now owns 265 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 260 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in Morgan Stanley during the fourth quarter worth about $25,000. RVW Wealth LLC bought a new position in Morgan Stanley during the third quarter worth about $27,000. Glass Jacobson Investment Advisors llc boosted its position in Morgan Stanley by 77.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 328 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 143 shares during the period. Finally, DHJJ Financial Advisors Ltd. bought a new position in Morgan Stanley during the third quarter worth about $28,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Morgan Stanley Price Performance

The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.89. The stock has a market cap of $144.97 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43. The business’s 50-day simple moving average is $88.65 and its two-hundred day simple moving average is $84.78.

Morgan Stanley Company Profile

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. It operates through Institutional Securities, Wealth Management, and Investment Management segments.