Morgan Stanley Announces Fourth Quarter and Full Year 2019 Earnings Results

  • Morgan Stanley Announces Fourth Quarter and Full Year 2019 Earnings Results

Morgan Stanley Announces Fourth Quarter and Full Year 2019 Earnings Results

The firm's profit of $2.2 billion, or $1.30 a share, on $10.9 billion in revenue, topped expectations of analysts polled by FactSet, who had forecast earnings of $1.02 a share on $9.71 billion of revenue.

Advancing issues outnumbered decliners by a 3.48-to-1 ratio on the NYSE and a 3.55-to-1 ratio on the Nasdaq. Zacks Investment Research's earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Tesla. The electric vehicle producer reported $1.86 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.42) by $2.28. A no-nonsense Aussie - he pledged $1 million last week to aid in wildfire relief there - he has pivoted the firm away from trading and toward wealth management, a steadier business that now accounts for almost half of its revenue. Tesla's quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.90 EPS.

Several other brokerages also recently weighed in on TSLA. Compass Point set a $105.00 price target on Intercontinental Exchange and gave the company a "buy" rating in a report on Friday, November 1st.

Shares of Tesla fell as much as 4% in early trading Thursday. Nord/LB set a $195.00 price objective on Tesla and gave the stock a "sell" rating in a research report on Monday, October 7th. BidaskClub raised Tesla from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. The consensus price target is $57.35.

Responding to Morgan Stanley's downgrade, Tesla shares fell 4% on Thursday to below $500 for the first time this week, setting CEO Elon Musk a step back from claiming his huge compensation package tied to Tesla's market value.

Shares of the Company surged after the financial results were published. Also, CAO Vaibhav Taneja sold 452 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $94.54, for a total value of $889,905.02. Following the completion of the transaction, the chief accounting officer now owns 1,020 shares in the company, valued at $357,816. The disclosure for this sale can be found here.

Tesla's stock recently traded down 3% to $502 a share in NY.

A number of hedge funds have recently bought and sold shares of ICE. Personal Wealth Partners grew its holdings in Tesla by 5,000.0% during the 3rd quarter. Insiders sold 98,531 shares of company stock valued at $33,791,753 over the last quarter. HM Payson & Co. acquired a new stake in Tesla during the 2nd quarter valued at $30,000. Oppenheimer Asset Management Inc. now owns 67,911 shares of the financial services provider's stock worth $6,266,000 after buying an additional 16,967 shares during the period. Revenue rose 11% as asset-management and transactional sales increased, offsetting a 6% drop in net interest income.