) crafted a new 52-week high, touching $30.23 in the first hour
of the trading session on Nov 12, 2013. The stock closed the
session at $29.76, registering a solid year-to-date return of
51.7%. The trading volume for the session was 14.45 million
shares, higher than the average of 13.09 million over the last 3
Despite the strong price appreciation, this Zacks Rank #3 (Hold)
stock has plenty of upside left, given its estimate revisions
over the last 30 days and expected year-over-year earnings growth
of 29.3% for 2013.
Impressive third-quarter 2013 results comprising positive
earnings surprise of 19.1% and resumption of share repurchase,
along with underlying strength in its business segments were the
primary growth drivers for Morgan Stanley.
On Oct 18, Morgan Stanley reported third-quarter results. Keeping
alive its earnings streak from the last four quarters, the
company's earnings from continuing operations of 50 cents per
share outpaced the Zacks Consensus Estimate of 43 cents.
Results benefited from top-line growth and lower-than-expected
expenses. However, a fall in client activity and market volumes
for all products led to decline in Fixed Income & Commodities
sales and trading results.
Over the last 30 days, 2 out of 11 estimates for 2013 have been
revised upward, lifting the Zacks Consensus Estimate by 2.0% to
$2.06 per share. However, for 2014, 6 out of 18 estimates moved
lower over the same time frame, causing the Zacks Consensus
Estimate to fall by 2.7% to $2.55 per share.
Better performing banks include
), all of which carry a Zacks Rank #2 (Buy).
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MORGAN STANLEY (MS): Free Stock Analysis
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