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2 hours ago
- Yahoo
How to Play Morgan Stanley Stock as Global M&As Rebound?
While market uncertainties, driven by President Donald Trump's trade war, elevated interest rates and broader geopolitical tensions posed challenges, they did not fully spoil what many bankers had anticipated would be a blockbuster year for global dealmaking. The year began on an optimistic note, but market sentiment cooled after Trump's tariff policies launched on 'Liberation Day', casting a shadow over dealmaking. Yet, momentum has since rebounded, with activity picking up in recent months. This seems to be the right time to keep an eye on Morgan Stanley MS stock before it of MS, one of the most well-known global investment banks, have risen just 14.6% this year. In contrast, the company's peers, Goldman Sachs GS and JPMorgan JPM, have fared much better, with their stocks gaining 26.4% and 23.5%, respectively. YTD Price Performance Image Source: Zacks Investment Research The data available from Dealogic shows that despite an initial hiccup, the appetite for mergers and acquisitions (M&As) remains resilient in the face of market volatility, geopolitical tension and Trump's shifting tariff landscape. Many deals that were put on hold are likely to come back once there is more certainty about the direction of the economy, as capital remains available. This will act as a tailwind for investment banks such as Morgan Stanley, JPMorgan and Goldman, which generate billions in revenues from M&A advisory the first quarter of 2025, industry-wide investment banking (IB) business witnessed better-than-expected activity, and Morgan Stanley performed well. The company's total IB fees (in the Institutional Securities division) grew 7.7% year over year to $1.56 billion. MS' second-quarter IB performance is likely to be muted due to the above-mentioned headwinds. The Zacks Consensus Estimate for IB fees (in the Institutional Securities division) is expected to be $1.49 billion, marking a sequential and year-over-year the second-half prospects look encouraging, and Morgan Stanley is likely to record a solid improvement in IB fees. Morgan Stanley has lowered its reliance on capital markets for income generation. The company's focus on expanding its wealth and asset management operations and strategic acquisitions, including Eaton Vance, E*Trade Financial and Shareworks, is a step in that direction. These moves have bolstered its diversification efforts, enhanced stability and created a more balanced revenue stream across market cycles. Both businesses' aggregate contribution to net revenues jumped to more than 55% in 2024 from 26% in 2010. For the first quarter of 2025, the aggregate contribution to net revenues was 50.3%.In the first quarter, Morgan Stanley reported net outflows of $13.6 billion in the Investment Management division owing to volatile markets. On the other hand, assets under management or supervision rose 9.4% year over year to $1.6 trillion as of March 31, 2025. Further, the Wealth Management division's total client assets increased 9.5% on a year-over-year basis to $6 billion. Morgan Stanley's partnership with Mitsubishi UFJ Financial Group, Inc. MUFG is expected to continue supporting its financials. In 2023, the companies announced plans to deepen their 15-year alliance by merging certain operations within their Japanese brokerage joint new strategic alliance involves combined Japanese equity research, sales and execution services for institutional clients at Mitsubishi UFJ Morgan Stanley Securities and Morgan Stanley MUFG Securities. Also, their equity underwriting business has been rearranged between the two brokerage units. These efforts will solidify the company's position in the lucrative Japanese helped MS achieve record equity net revenues in the first quarter of 2025, particularly in Asia, through outperformance in prime brokerage and derivatives driven by solid client activity amid heightened volatility. Further, the company's Asia region revenues jumped 34.5% year over year to $2.35 billion during the quarter. As of March 31, 2025, Morgan Stanley had a long-term debt of $297 billion, with only approximately $23 billion expected to mature over the next 12 months. The company's average liquidity resources were $351.7 billion as of the same date. Moreover, the company enjoys investment-grade long-term credit ratings of A1, A- and A+ from Moody's, S&P Global Ratings and Fitch Ratings, respectively, and a stable outlook allows easy access to the debt market. Thus, a solid balance sheet position supports its enhanced capital clearing the 2025 stress test, Morgan Stanley announced plans to increase its quarterly dividend by 8% to $1 per share. Also, the company has reauthorized its share repurchase program of up to $20 billion. Over the past five years, the company has raised its dividends four times, with an annualized growth rate of 25.2%. Over the past month, the Zacks Consensus Estimate for 2025 and 2026 earnings has been revised marginally lower to $8.54 and $9.26, respectively. Estimate Revision Trend Image Source: Zacks Investment Research The Zacks Consensus Estimate for Morgan Stanley's 2025 and 2026 earnings implies year-over-year growth of 7.4% and 8.4%, respectively. From a valuation perspective, MS stock is currently trading at a forward 12-month price/earnings (P/E) of 16.19X. This is above the industry's 14.96X. Price-to-Earnings F12M Image Source: Zacks Investment Research On the other hand, JPMorgan and Goldman Sachs have a forward P/E of 15.54X and 15.31X, respectively. This reflects that Morgan Stanley is expensive compared to its Stanley's strong global presence and strategic focus on stable revenue streams provide a solid foundation for organic growth. Its diversified business model ensures resilience and growth potential, even in volatile market conditions. Resilient M&A pipelines and solid trading revenues are other the company has been witnessing a rise in expenses. Though expenses declined in 2022, the metric recorded a five-year (ending 2024) CAGR of 7.8%, with the uptrend continuing in the first quarter of 2025. Expenses are likely to remain elevated, given higher compensation costs, inflationary pressure and inorganic growth the current trend points toward a resurgence in global M&As, investors must keep a watch on the trends and macroeconomic developments before taking any investment decision. Also, the stock's premium valuation and bearish analyst sentiment warrant careful consideration. Hence, MS stock is a cautious Stanley currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Morgan Stanley (MS) : Free Stock Analysis Report Mitsubishi UFJ Financial Group, Inc. (MUFG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
3 hours ago
- Yahoo
Circle Stock Has Rallied Hard, But This Analyst Says It's Now Time to ‘Sell'
Circle Internet Group (CRCL), parent of stablecoin USDC, saw its shares skyrocket following its initial public offering. From a debut price of $31, shares have surged more than 500% to just below $190 apiece. At their peak in June, they were briefly trading for almost $290 each. The remarkable spike in the stock has become a significant point of interest for retail and institutional investors looking to place a bet stablecoins and the future of digital payments. UnitedHealth Stock Is One of the Worst-Performing S&P 500 Stocks in 2025. Should You Buy the Dip? AI Isn't Just About Nvidia: 2 Rising Stars in the Artificial Intelligence Race 'It's a Miracle': Nvidia CEO Says Their New Technology Takes 'AI Supercomputing to a Whole New Level' Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. However, the euphoria is running up against pushback from Wall Street. JPMorgan, which backed Circle during its IPO, recently downgraded the stock to an 'Underperform' rating based on a stretched valuation that is 'pushed beyond our comfort zone.' The stablecoin issuer now trades at a market capitalization of around $39 billion, a fat valuation that implies meteoric growth but raises the downside risk sharply should the momentum fade. Circle Internet Group (CRCL) is a leading fintech company that is arguably most known for the issuance of USDC, the second-largest dollar-pegged stablecoin. CRCL shares have been very volatile since their IPO, ranging from a low of $64 to a high at $298.99 in its short trading history. Valuation multiples for Circle are a reflection of its growth premium and the buzz surrounding digital assets. Its price-earnings ratio is a mind-boggling 175.03x, and its price-sales ratio is a lofty 20.96x, in both instances much higher than the fintech averages. Its current valuation suggests that investors are predicting huge future growth that may be threatened should sentiment take a turn for the worse. Circle stock earns a 'Moderate Buy' consensus rating and the current mean price target is at $194.30, indicating relatively modest upside potential of 4%. However, the spread for price targets is otherwise very wide, with the high estimate at $250.00 indicating optimism about Circle's growth runway, and a low estimate at $80.00 indicating concern about valuation risk and regulatory challenges. In particular, JPMorgan analyst Kenneth Worthington most recently rated Circle an 'Underperform' with a caution that its shares have been 'taken beyond our comfort zone.' If more analysts follow suit, the downgrades could elicit profit-taking among holders who netted early gains. On the date of publication, Yiannis Zourmpanos did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
5 hours ago
- Yahoo
Melco Resorts (MLCO) Rallies 11.5% on Higher Price Target, Rosy Macau Gaming
Melco Resorts & Entertainment Ltd. (NASDAQ:MLCO) is one of . Melco Resorts & Entertainment jumped by 11.48 percent on Tuesday to close at $8.06 apiece amid a flurry of catalysts, including a price and rating upgrade, that boosted investing appetite. In its market note, investment firm JPMorgan upgraded its rating and price target for Melco Resorts & Entertainment Ltd. (NASDAQ:MLCO) to 'overweight' from 'neutral' previously, with a higher price target of $9.5 versus $7.2 prior on expectations that the stock still has room to grow higher. The new price target marked a 17.86 percent upside from its latest closing price. Meanwhile, investor sentiment was further supported by Macau's announcement earlier in the week that gross gaming revenues across the industry surged by 19 percent to 21.06 billion patacas or $2.6 billion, partly driven by the series of concerts by Cantopop icon Jacky Cheung, which began in mid-June and will continue until early July. A bustling casino table surrounded by players, highlighting the gaming entertainment offered by the resort. Investors expected higher GGR revenues for June to reflect in Melco Resorts & Entertainment Ltd.'s (NASDAQ:MLCO) financial performance during the past quarter. While we acknowledge the potential of MLCO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
