Morgan Stanley exceeds forecasts with 46% jump in fourth-quarter profits

17 Janvier, 2020, 17:16 | Auteur: Auguste Feret
  • Morgan Stanley saw stronger bond trading and underwriting business in the fourth quarter of 2019

Svb Leerink analyst G. Porges now forecasts that the company will post earnings of $0.03 per share for the year, up from their prior forecast of ($1.37). They issued an "outperform" rating on the stock. Oppenheimer also issued estimates for Tesla's FY2023 earnings at $18.87 EPS and FY2024 earnings at $23.89 EPS.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st.

The investment bank said it had made a profit of 2.24 billion U.S. dollars, or 1.30 dollars per share, against a profit of 1.53 billion dollars, or 80 cents per share, in the same period a year earlier.

Net revenues in the unit rose to $4.6 billion in the fourth quarter of 2019, compared to $4.4 billion in the third quarter and $4.1 billion in the fourth quarter of 2018, according to the report. Tesla had a negative return on equity of 13.42% and a negative net margin of 3.39%. The firm's revenue for the quarter was up 11.3% on a year-over-year basis.

Other equities research analysts also recently issued reports about the stock.

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On Thursday, Morgan Stanley downgraded Tesla to "underweight" from "equal-weight". They set a "buy" rating for the company. Finally, TheStreet upgraded Tesla from a "d+" rating to a "c-" rating in a research report on Tuesday, October 29th. Piper Sandler upped their price objective on Tesla from $423.00 to $553.00 and gave the stock an "overweight" rating in a research report on Friday, January 10th.

NASDAQ:TSLA opened at $513.49 on Wednesday. The stock has a market cap of $52.22 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 2.63 and a beta of 0.45. Tesla has a twelve month low of $176.99 and a twelve month high of $547.41. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The company's 50 day moving average price is $403.12 and its 200 day moving average price is $294.14.

Technology stocks provided the biggest boost, with Apple up more than one per cent and chipmakers gaining after a strong forecast from the world's top contract chipmaker TSMC signalled a recovery in the sector. Personal Wealth Partners grew its holdings in Tesla by 5,000.0% during the 3rd quarter. HM Payson & Co. bought a new stake in Tesla during the 2nd quarter valued at approximately $30,000. Alpha Windward LLC bought a new stake in Tesla during the 4th quarter valued at approximately $36,000. Private Capital Group LLC now owns 122 shares of the electric vehicle producer's stock valued at $42,000 after buying an additional 64 shares during the last quarter. Finally, APG Asset Management N.V. lifted its position in shares of Tesla by 198.3% in the 2nd quarter. Colony Group LLC now owns 250,811 shares of the financial services provider's stock worth $23,142,000 after buying an additional 2,923 shares during the period. Institutional investors and hedge funds own 52.58% of the company's stock. Also, Director Charles R. Crisp sold 2,908 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $94.54, for a total value of $889,905.02.

He has hit a series of financial metrics he set out for shareholders and last summer struck the largest acquisition by a major US bank since the crisis, buying Solium, which helps companies manage the stock they pay employees.

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