Zacks Investment Research cut shares of Msci (NYSE:MSCI) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
According to Zacks, “MSCI is expected to hurt from increasing demand for lower fee products from other index providers that are targeting new inflows. Additionally, higher cancellations in the Index segment are a concern. Nevertheless, the company is benefiting from strong growth in asset-based fees and recurring subscriptions. Increasing new recurring subscriptions sales reflects solid demand for the company’s solutions. The company is also gaining from strong traction in client segments, like wealth management, and banks and broker dealers. Shares have outperformed the industry in the past year.”
Several other brokerages also recently weighed in on MSCI. Barclays dropped their price objective on Msci from $175.00 to $165.00 and set an overweight rating for the company in a research report on Monday. BMO Capital Markets dropped their price objective on Msci from $180.00 to $178.00 and set a buy rating for the company in a research report on Monday, November 5th. Finally, Morgan Stanley set a $172.00 price objective on Msci and gave the stock a hold rating in a research report on Monday, October 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $178.50.
Shares of MSCI traded up $0.34 during trading hours on Tuesday, hitting $154.28. 42,341 shares of the company were exchanged, compared to its average volume of 736,489. The company has a debt-to-equity ratio of 6.80, a quick ratio of 2.75 and a current ratio of 2.75. Msci has a fifty-two week low of $131.26 and a fifty-two week high of $184.22. The firm has a market cap of $13.36 billion, a P/E ratio of 38.74, a price-to-earnings-growth ratio of 2.55 and a beta of 1.05.
Msci (NYSE:MSCI) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.06. Msci had a return on equity of 121.45% and a net margin of 29.87%. The business had revenue of $357.90 million during the quarter, compared to the consensus estimate of $359.91 million. During the same period in the prior year, the company earned $1.00 EPS. Msci’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts predict that Msci will post 5.28 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its position in Msci by 4.6% in the fourth quarter. State of Alaska Department of Revenue now owns 22,371 shares of the technology company’s stock valued at $3,297,000 after purchasing an additional 977 shares during the last quarter. Retirement Systems of Alabama raised its position in Msci by 5.7% in the fourth quarter. Retirement Systems of Alabama now owns 73,955 shares of the technology company’s stock valued at $10,903,000 after purchasing an additional 4,000 shares during the last quarter. Moody National Bank Trust Division bought a new position in Msci in the fourth quarter valued at about $94,000. Marshall Wace North America L.P. raised its position in Msci by 16.8% in the third quarter. Marshall Wace North America L.P. now owns 473,708 shares of the technology company’s stock valued at $84,041,000 after purchasing an additional 68,174 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Msci by 74.4% in the third quarter. Marshall Wace LLP now owns 525,781 shares of the technology company’s stock valued at $93,279,000 after purchasing an additional 224,301 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.
Msci Company Profile
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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