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Morgan Stanley Stock Bounces Toward 2-Year High

Morgan Stanley stock

Morgan Stanley (NYSE: MS) stock price rallied to the highest level in the past two years on the back of stronger than expected financial performance in 2019. MS shares are also trading close to an all-time high of $58 that it had marked two years ago. In addition, the high double-digit growth in financial numbers is offering support to cash returns.

The company currently offers a dividend yield of 2.5%; it has raised dividends in the past six years. Along with the potential dividend increase, the prospects are also strong for Morgan Stanley’s stock price upside in 2020. This is because the big bank has raised its outlook for the next two years.

MS Morgan Stanley daily Stock Chart

Morgan Stanley Stock is Poised for Further Rally

Although MS share price soared 25% in the past three months, the shares are likely to extend momentum. Its Q4 beat and better than expected outlook for 2020 is helping in strengthening investor’s sentiments. The company generated 27% year over year revenue growth in the latest quarter.

2019 was a record-breaking year for MS. It reported record full-year revenue of $41.4 billion, up from $40.1 billion a year ago. Moreover, its earnings also increased significantly from the year-ago period. The bank’s net income came in at $9.0 billion for 2019 compared to net income of $8.7 billion a year ago.

Morgan Stanley Stock Bounces...

James P. Gorman, Chairman, and Chief Executive Officer said, “Firmwide revenues were over $10 billion for the fourth consecutive quarter, resulting in record full-year revenues and net income. This consistent performance met all of our stated performance targets.”

Expectations are High for 2020

MS increased the return on tangible common equity goal to 13%-15% for the next two years. This is up from the previous target of 11%-14.5%. The company plans to achieve a return on tangible common equity goal of 15%-17% in the long term. It raised a two-year target of efficiency ratio to 70%-72%. Overall, Morgan Stanley appears in a position to offer solid returns to investors in 2020.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.