Todays Report: Today, Morgan Stanley to Post Q3 2016 Earnings of $0.67 Per Share, Oppenheimer Holdings Forecasts (MS)

Today, Morgan Stanley to Post Q3 2016 Earnings of $0.67 Per Share, Oppenheimer Holdings Forecasts (MS)

Morgan Stanley (NYSE:MS) – Equities research analysts at Oppenheimer Holdings dropped their Q3 2016 earnings estimates for Morgan Stanley in a report issued on Monday. Oppenheimer Holdings analyst C. Kotowski now anticipates that the firm will earn $0.67 per share for the quarter, down from their prior estimate of $0.70. Oppenheimer Holdings also issued estimates for Morgan Stanley’s Q4 2016 earnings at $0.59 EPS, FY2016 earnings at $2.56 EPS and FY2017 earnings at $2.97 EPS.

Morgan Stanley (NYSE:MS) last issued its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.16. The firm earned $8.91 billion during the quarter, compared to the consensus estimate of $8.30 billion. Morgan Stanley had a return on equity of 6.41% and a net margin of 13.27%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 EPS.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. reissued a “buy” rating and set a $27.00 price objective (down previously from $29.00) on shares of Morgan Stanley in a report on Monday, June 27th. Buckingham Research reissued a “buy” rating on shares of Morgan Stanley in a report on Tuesday, June 21st. Bank of America Corp. reissued a “buy” rating and set a $27.00 price objective (down previously from $32.00) on shares of Morgan Stanley in a report on Wednesday, June 29th. Royal Bank Of Canada set a $27.00 price objective on Morgan Stanley and gave the company a “buy” rating in a report on Tuesday, June 28th. Finally, RBC Capital Markets set a $32.00 target price on Morgan Stanley and gave the company a “buy” rating in a research note on Thursday, July 21st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.41.

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Shares of Morgan Stanley (NYSE:MS) traded down 0.77% on Thursday, reaching $32.31. The company had a trading volume of 5,961,685 shares. The firm has a market capitalization of $61.77 billion, a PE ratio of 14.94 and a beta of 2.09. Morgan Stanley has a 12 month low of $21.16 and a 12 month high of $35.74. The company’s 50-day moving average is $31.55 and its 200 day moving average is $27.92.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FineMark National Bank & Trust raised its position in Morgan Stanley by 2.0% in the second quarter. FineMark National Bank & Trust now owns 4,332 shares of the financial services provider’s stock valued at $113,000 after buying an additional 84 shares in the last quarter. Assetmark Inc. raised its position in Morgan Stanley by 291.1% in the second quarter. Assetmark Inc. now owns 5,323 shares of the financial services provider’s stock valued at $138,000 after buying an additional 3,962 shares in the last quarter. Synovus Financial Corp raised its position in Morgan Stanley by 11.3% in the second quarter. Synovus Financial Corp now owns 5,418 shares of the financial services provider’s stock valued at $141,000 after buying an additional 549 shares in the last quarter. Acrospire Investment Management LLC raised its position in Morgan Stanley by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 6,200 shares of the financial services provider’s stock valued at $161,000 after buying an additional 3,100 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in Morgan Stanley during the second quarter valued at $205,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

In other Morgan Stanley news, CFO Paul C. Wirth sold 20,000 shares of Morgan Stanley stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $30.20, for a total transaction of $604,000.00. Following the transaction, the chief financial officer now directly owns 214,280 shares in the company, valued at $6,471,256. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Stanley Morgan sold 357 shares of Morgan Stanley stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $23,750.00, for a total value of $8,478,750.00. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

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