Msci Inc (NYSE: MSCI) stock lost $3.86 of its trading price in the July 6 trading session. It opened trading at $466.01, dipped to $463.76, hit a high of $470.20, and closed trading at $469.46 with an intraday trading volume of 624.945k.
In the past week, MSCI prices surged over 1.02%, but prices have declined more than 1.80% in a month and 12.12% in a quarter. In 52 weeks, the stock’s highest trading price was $572.50, and its lowest was $385.00.
The annual price target of MSCI stock is $546.25, which is around 16.30% higher than the current trading prices. According to the technical indicators of TradingView, the ongoing movement of MSCI stock does not suggest buying more of the stock. Moreover, the analysts’ ratings suggest that it is the perfect time to buy and hold MSCI stock.
In Thursday’s trading session, the declining prices of MSCI stock attracted more buyers than sellers. Since the last four trading sessions, MSCI stock’s trading volume has reflected a majority of buyers.
The market capitalization of MSCI Inc (NYSE: MSCI) is $37.587 billion, and its average trading volume is 542.652k. Relevant data states that 77.623 million MSCI shares are free-floating, and the remaining 2 million are closely held by financial backers or the board of directors.
Recent News
Forsta AP Fonden revealed in a Securities and Exchange Commission (SEC) filing that it had decreased its ownership of NYSE: MSCI shares and sold off 3,400 shares, reducing its holdings to a total of 14,700. Their investment in MSCI amounted to $8,227,000 at the end of the reporting period.
Msci Inc (NYSE: MSCI) Earnings & Revenue
In Q1 2023, MSCI Inc (NYSE: MSCI) reported less revenue than the estimated figures. The company was expected to report $593.93 million, but it reported $592.22 million instead. The estimated revenue for Q2 is $602.35 million, and for Q3 it is $620.20 Million.
Apart from reporting less revenue, the earnings per share (EPS) of MSCI Inc surged over 4.65% compared to the estimated EPS. From the reported revenue of Q1 2023, the company’s net income was $238.73 million, and the profit margin was 40.31%.
In the financial year 2022, total revenue of the company was $2.25 billion, gross profit was $1.73 billion, operating income was $1.21 billion, pretax income was $1.04 billion, and net income was $870.57 million.
The revenue-to-profit conversion of the company constitutes 77% gross profit, 60% of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), 54% of Earnings before interest and taxes (EBIT) and 39% net income.
A major portion of MSCI Inc’s (NYSE: MSCI) revenue is generated from Index, Analytics, Environmental, Social, Governance, Climate and other services. It serves users from the United States, United Kingdom, Japan, Australia, Africa, and some other regions of Asia.
Disclaimer
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/07/msci-stock-loses-3-86-with-declining-prices-attracting-buyers/