Morgan Stanley Profits Jump on a Surge in Bond Trading Revenue
- Author: Ernesto Newman Apr 20, 2017,
Apr 20, 2017, 0:08
Shares of Morgan Stanley (NYSE:MS) opened at 41.21 on Wednesday. The stock has a 50-day moving average price of $18.84 and a 200 day moving average price of $18.21.
Morgan Stanley, BlackRock, Abbott, and US Bancorp were among the companies scheduled to release earnings ahead of the opening bell. Teachers Advisors LLC owned 0.22% of Morgan Stanley worth $176,753,000 as of its most recent filing with the SEC. Vetr upgraded Morgan Stanley from a "sell" rating to a "hold" rating and set a $43.48 price target for the company in a report on Monday, March 20th. USA stocks are rebounding Wednesday morning as strong results from Morgan Stanley and rising bond yields send banks and other financial companies higher. According to tipranks.com, 8 analysts has covered the stock while recommending a "Moderate Buy". The stock was sold at an average price of $46.04, for a total transaction of $574,625.24.
Stocks mostly skidded Tuesday after weak earnings from a few key companies, especially health care products giant Johnson & Johnson and Goldman Sachs. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The disclosure for this sale can be found here.
While both men agree that stress tests should be simplified, Gorman offered up this suggestion to the Federal Reserve: the complex and burdensome review - which determines whether firms can withstand losses and still pay dividends, repurchase shares or make acquisitions - should be moved to a two-year cycle from its current annual schedule.
Morgan Stanley had a rough first quarter, but still managed to beat analysts' expectations. Finally, Daiwa Capital Markets upgraded shares of Morgan Stanley from a "hold" rating to an "outperform" rating in a research report on Tuesday, February 7th. Finally, Markston International LLC raised its position in shares of Morgan Stanley by 4.5% in the third quarter.
Another critical number in evaluating a stock is P/E or the price to earnings ratio.
MS has a 1-year high price of $ 47.33 and 1-year low price of $22.71.
Fellow Wall Street giant BlackRock - the world's largest fund management group - also posted figures on Wednesday showing better-than-expected earnings as first quarter net income rose 31% to 862 million USA dollars (£672 million). Morgan Stanley (NYSE:MS) shares have been recently spotted -12.59% away from the 52-week high, and 82.15% away from the 52-week low mark. Investment Management revenues rose to $609 million from $477 million a year ago, and Firm revenues increased to $9.7 billion from $7.8 billion last year. During the same period in the prior year, the company earned $0.43 earnings per share.
Its wealth management arm also grew profits in the quarter, with net revenues of 4.1 billion United States dollars (£3.2 billion) compared with 3.7 billion U.S. dollars (£2.9 billion) a year earlier. For the full year, analysts are looking for EPS of $3.39 and revenues of $36.71 billion.