Royal Bank Of Canada reissued their buy rating on shares of Mastercard Incorporated (NYSE:MA) in a report issued on Friday morning. Royal Bank Of Canada currently has a $156.00 price target on the credit services provider’s stock.
Several other research analysts have also recently issued reports on MA. Zacks Investment Research upgraded shares of Mastercard from a hold rating to a buy rating and set a $160.00 price objective for the company in a report on Thursday. Cowen and Company reiterated an outperform rating and issued a $137.00 price objective (up from $129.00) on shares of Mastercard in a report on Sunday, July 30th. BidaskClub cut shares of Mastercard from a buy rating to a hold rating in a report on Wednesday, July 5th. Loop Capital increased their price objective on shares of Mastercard from $132.00 to $144.00 and gave the company a positive rating in a report on Friday, July 28th. They noted that the move was a valuation call. Finally, Mizuho began coverage on shares of Mastercard in a report on Tuesday, June 27th. They issued a neutral rating and a $125.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $141.47.
Shares of Mastercard (NYSE MA) opened at 141.89 on Friday. The stock’s 50 day moving average is $133.90 and its 200-day moving average is $122.61. The firm has a market capitalization of $151.10 billion, a P/E ratio of 35.21 and a beta of 1.18. Mastercard has a 52-week low of $99.51 and a 52-week high of $143.59.
Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $0.96 earnings per share. On average, equities analysts forecast that Mastercard will post $4.43 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, October 6th will be paid a $0.22 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.88 annualized dividend and a yield of 0.62%. Mastercard’s dividend payout ratio is presently 21.78%.
In other Mastercard news, major shareholder Foundation Mastercard sold 87,618 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $127.98, for a total value of $11,213,351.64. Following the transaction, the insider now owns 112,649,063 shares in the company, valued at approximately $14,416,827,082.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Martina Hundmejean sold 91,107 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the completion of the transaction, the chief financial officer now owns 170,570 shares in the company, valued at approximately $22,138,280.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 850,468 shares of company stock worth $109,574,694. Company insiders own 0.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Intl Fcstone Inc. acquired a new position in Mastercard in the 2nd quarter valued at approximately $1,873,000. USA Financial Portformulas Corp increased its stake in Mastercard by 945.0% in the 2nd quarter. USA Financial Portformulas Corp now owns 26,615 shares of the credit services provider’s stock valued at $3,232,000 after buying an additional 24,068 shares during the period. Farmers National Bank increased its stake in Mastercard by 7.2% in the 2nd quarter. Farmers National Bank now owns 13,287 shares of the credit services provider’s stock valued at $1,614,000 after buying an additional 889 shares during the period. Kimelman & Baird LLC increased its stake in Mastercard by 0.7% in the 2nd quarter. Kimelman & Baird LLC now owns 109,983 shares of the credit services provider’s stock valued at $13,357,000 after buying an additional 765 shares during the period. Finally, Sentry Investment Management LLC increased its stake in Mastercard by 1.0% in the 2nd quarter. Sentry Investment Management LLC now owns 75,771 shares of the credit services provider’s stock valued at $9,202,000 after buying an additional 736 shares during the period. Hedge funds and other institutional investors own 76.04% of the company’s stock.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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