Msci (NYSE:MSCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports. The brokerage currently has a $238.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 4.21% from the stock’s previous close.
According to Zacks, “MSCI is benefiting from growth in equity ETF-related revenues, non-ETF passive revenues and exchange-traded futures and options products. Strong demand for custom and factor index modules and increasing adoption of the ESG solution into the investment process hold promise. Also, the company’s acquisition of Carbon Delta is a key catalyst. Strong traction in client segments like wealth management, banks and broker dealers, is a positive. Shares have outperformed the industry on a year-to-date basis. Estimates have been stable lately ahead of the company’s Q3 earnings release. The company has positive record of earnings surprises in recent quarters. However, increasing demand for lower fee products from other index providers that are targeting new inflows is an overhang. Additionally, declining asset-based fees is a concern.”
Other equities research analysts also recently issued reports about the stock. UBS Group raised their target price on shares of Msci from $235.00 to $238.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their target price on shares of Msci from $223.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Atlantic Securities assumed coverage on shares of Msci in a research note on Wednesday, September 25th. They issued a “neutral” rating and a $235.00 target price for the company. ValuEngine downgraded shares of Msci from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, TheStreet upgraded shares of Msci from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $226.00.
MSCI traded up $2.40 during trading on Thursday, hitting $228.38. The stock had a trading volume of 103,566 shares, compared to its average volume of 496,976. The company has a market capitalization of $19.39 billion, a PE ratio of 42.69, a PEG ratio of 3.57 and a beta of 1.12. Msci has a twelve month low of $134.28 and a twelve month high of $247.57. The stock has a 50 day simple moving average of $227.17 and a two-hundred day simple moving average of $227.23.
Msci (NYSE:MSCI) last announced its earnings results on Thursday, August 1st. The technology company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.03. The company had revenue of $385.56 million during the quarter, compared to the consensus estimate of $382.81 million. Msci had a net margin of 39.27% and a negative return on equity of 599.92%. Msci’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $1.30 earnings per share. On average, sell-side analysts anticipate that Msci will post 6.3 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Msci by 26.4% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 36,912 shares of the technology company’s stock worth $8,038,000 after buying an additional 7,698 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Msci by 16.0% in the third quarter. CIBC Private Wealth Group LLC now owns 82,809 shares of the technology company’s stock worth $18,032,000 after buying an additional 11,448 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Msci by 11.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,535 shares of the technology company’s stock worth $1,205,000 after buying an additional 587 shares during the last quarter. PFG Advisors raised its holdings in shares of Msci by 1.1% in the third quarter. PFG Advisors now owns 5,965 shares of the technology company’s stock worth $1,309,000 after buying an additional 65 shares during the last quarter. Finally, Intellectus Partners LLC purchased a new position in shares of Msci in the third quarter worth $336,000. 91.80% of the stock is owned by institutional investors and hedge funds.
MSCI Inc, together with its subsidiaries, provides investment decision support tools for the clients to manage their investment processes worldwide. The company operates through four segments: Index, Analytics, ESG, and Real Estate. The Index segment primarily provides equity indexes for use in various areas of the investment process, including index-linked product creation and performance benchmarking, as well as portfolio construction and rebalancing, and asset allocation.
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