Morgan Stanley profit rises 61.7% as trading makes comeback
- by Dan Gutierrez
- in Markets
- — Oct 21, 2016
For comparison, there was a revenue of $7.86B and EPS of $0.43 in the December 2015 period. Wells Fargo & Co, contending with a scandal in its consumer business, also beat estimates. Including today's unusual volume, Morgan Stanley Income Securities Inc.'s stock is performing at 10.27% on the year. Bank of America Corp. reissued a "buy" rating and issued a $27.00 target price (down from $32.00) on shares of Morgan Stanley in a report on Wednesday, June 29th. The stock has added about 15.4% since it reported its last earnings. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of "Hold" and a consensus target price of $32.71.
Morgan Stanley has the Market Capitalization of 62.96 Billion. The 52-week range of the share price is from $7.19 - $11.40. The company's price sits 4.84% above from its 50-day moving average of $31.92 and 20.72% above from the stock's 200-day moving average of $28.40. "We've seen earnings kind of trough, we are going to see better earnings and we are going to start to move from the negative overall into the positive this quarter and next", said Jeff Kravetz, regional investment director at the Private Client Reserve at U.S. Bank in Phoenix, Arizona. Morgan Stanley reported 81 cents per share in earnings on $8.91 billion in revenue.
Indeed, investment banking was a strong source of revenue in the quarter at $1.1 billion, in line with estimates.
Earnings per share, excluding DVA, rose to $0.81 from $0.34 in the prior year.
Adam Scott heads many chances at CIMB Classic
Of course last year's victor , Justin Thomas , will also be expected to perform well again after such an incredible week in 2015. In all, six golfers took advantage of the great conditions of the course and carded a final score of 20-under or better.
Wealth Administration net revenues were $3.9 billion and pre-tax margin was 23%.3 Fee-based asset flows for the quarter were $13.5 billion. The drug maker expects its GAAP earnings for the full year to be between 59 cents and 61 cents per share. This represents a $0.80 annualized dividend and a dividend yield of 2.43%.
On a year-to-date basis, WDAY stock has risen 12.0% as of October 18, 2016.
Morgan Stanley's solid results match a broader trend taking place across the Street. Beta factor of the stock stands at 2.09. The transaction was disclosed in a filing with the SEC, which is available through this link. Following the sale, the insider now directly owns 123,710 shares of the company's stock, valued at $3,561,610.90. The disclosure for this sale can be found here. For the current quarter, net income applicable to Morgan Stanley was $1.6 billion, or $0.81 per diluted share, compared with income of $1.0 billion, or $0.48 per diluted share, for the same period a year ago. Halliburton (HAL.N) jumped 4.2% after the world's No.2 oilfield services provider posted third-quarter results. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Morgan Stanley by 91.5% in the second quarter.
The stock has received different ratings from Financial Analysts. About 5.97 billion shares changed hands in USA exchanges, below the 6.45 billion daily average over the last 20 sessions.
