Cantor Fitzgerald Reaffirms Buy Rating for Mastercard Incorporated (MA)
Cantor Fitzgerald restated their buy rating on shares of Mastercard Incorporated (NYSE:MA) in a report issued on Tuesday. The firm currently has a $165.00 price target on the credit services provider’s stock. Cantor Fitzgerald also issued estimates for Mastercard’s FY2017 earnings at $4.57 EPS and FY2018 earnings at $5.36 EPS.
“3Q17 revenues and EPS Top Street estimates. MasterCard reported 3Q17 revenue of $3.40 bn, a 18.0% y/y increase (+17% in constant currency (cc)), above our estimate and the FactSet consensus of $3.28 bn. Adjusted EBITDA margins decreased 60 bps annually to 60.6%.”,” the firm’s analyst commented.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Mastercard from a hold rating to a buy rating and set a $136.00 price objective for the company in a research report on Wednesday, July 5th. Jefferies Group LLC reissued a buy rating and issued a $147.00 target price (up from $140.00) on shares of Mastercard in a research report on Tuesday, July 18th. BidaskClub raised Mastercard from a hold rating to a buy rating in a research report on Tuesday, August 22nd. Deutsche Bank AG reissued a buy rating and issued a $150.00 target price (up from $124.00) on shares of Mastercard in a research report on Monday, July 10th. Finally, Credit Suisse Group reissued a buy rating and issued a $125.00 target price on shares of Mastercard in a research report on Friday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $156.34.
Shares of Mastercard (NYSE:MA) traded down $0.59 during midday trading on Tuesday, reaching $148.30. The company’s stock had a trading volume of 405,377 shares, compared to its average volume of 3,524,201. The company has a market cap of $157.87 billion, a PE ratio of 34.40 and a beta of 1.21.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.11. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the prior year, the business earned $1.08 EPS. Mastercard’s revenue was up 18.1% on a year-over-year basis. sell-side analysts expect that Mastercard will post 4.52 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, October 6th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, October 5th. Mastercard’s payout ratio is 20.47%.
In other Mastercard news, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $142.51, for a total transaction of $712,550.00. Following the completion of the transaction, the director now owns 45,278 shares of the company’s stock, valued at $6,452,567.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Fraccaro sold 5,800 shares of the firm’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $147.59, for a total value of $856,022.00. The disclosure for this sale can be found here. Insiders have sold 112,623 shares of company stock valued at $14,916,143 in the last three months. 0.30% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Glassman Wealth Services boosted its holdings in shares of Mastercard by 0.3% during the first quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock worth $199,000 after purchasing an additional 6 shares during the last quarter. Norway Savings Bank boosted its holdings in shares of Mastercard by 1.1% during the second quarter. Norway Savings Bank now owns 960 shares of the credit services provider’s stock worth $117,000 after purchasing an additional 10 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Mastercard by 1.3% during the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock worth $118,000 after purchasing an additional 12 shares during the last quarter. Concert Wealth Management Inc. boosted its holdings in shares of Mastercard by 0.3% during the first quarter. Concert Wealth Management Inc. now owns 6,467 shares of the credit services provider’s stock worth $664,000 after purchasing an additional 18 shares during the last quarter. Finally, Berkshire Asset Management LLC PA boosted its holdings in shares of Mastercard by 0.3% during the second quarter. Berkshire Asset Management LLC PA now owns 6,448 shares of the credit services provider’s stock worth $783,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 76.09% of the company’s stock.
Mastercard Company Profile
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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