FY2017 Earnings Forecast for Mastercard Incorporated (MA) Issued By KeyCorp
Mastercard Incorporated (NYSE:MA) – Equities researchers at KeyCorp lifted their FY2017 EPS estimates for Mastercard in a note issued to investors on Tuesday. KeyCorp analyst J. Beck now expects that the credit services provider will post earnings per share of $4.54 for the year, up from their previous forecast of $4.40. KeyCorp has a “Overweight” rating and a $170.00 price objective on the stock. KeyCorp also issued estimates for Mastercard’s Q4 2017 earnings at $1.10 EPS, Q1 2018 earnings at $1.15 EPS, Q4 2018 earnings at $1.29 EPS, FY2018 earnings at $5.15 EPS and FY2019 earnings at $6.05 EPS.
Mastercard (NYSE:MA) last posted its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, beating the 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 business 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 earnings per share. Mastercard’s revenue for the quarter was up 18.1% on a year-over-year basis. WARNING: “FY2017 Earnings Forecast for Mastercard Incorporated (MA) Issued By KeyCorp” was originally reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/fy2017-earnings-forecast-for-mastercard-incorporated-ma-issued-by-keycorp/1674611.html.
MA has been the subject of a number of other research reports. Wedbush reaffirmed a “buy” rating and issued a $140.00 target price (up previously from $129.00) on shares of Mastercard in a research report on Wednesday, September 6th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $158.00 target price (up previously from $149.00) on shares of Mastercard in a research report on Friday, September 8th. Barclays PLC lifted their target price on shares of Mastercard from $142.00 to $148.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Citigroup Inc. lifted their target price on shares of Mastercard from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Instinet reaffirmed a “buy” rating and issued a $163.00 target price (up previously from $153.00) on shares of Mastercard in a research report on Saturday, September 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $156.34.
Institutional investors have recently bought and sold shares of the company. Boys Arnold & Co. Inc. increased its holdings in shares of Mastercard by 7.8% in the 2nd quarter. Boys Arnold & Co. Inc. now owns 5,006 shares of the credit services provider’s stock worth $608,000 after buying an additional 363 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Mastercard in the 2nd quarter worth about $2,351,000. Baldwin Investment Management LLC increased its holdings in shares of Mastercard by 5.9% in the 2nd quarter. Baldwin Investment Management LLC now owns 3,600 shares of the credit services provider’s stock worth $437,000 after buying an additional 200 shares during the last quarter. Personal Capital Advisors Corp increased its holdings in shares of Mastercard by 3.3% in the 2nd quarter. Personal Capital Advisors Corp now owns 270,438 shares of the credit services provider’s stock worth $32,845,000 after buying an additional 8,670 shares during the last quarter. Finally, IBM Retirement Fund increased its holdings in shares of Mastercard by 68.8% in the 2nd quarter. IBM Retirement Fund now owns 23,051 shares of the credit services provider’s stock worth $3,128,000 after buying an additional 9,397 shares during the last quarter. Hedge funds and other institutional investors own 76.09% of the company’s stock.
In other news, insider Craig Vosburg sold 14,200 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $141.86, for a total value of $2,014,412.00. Following the sale, the insider now directly owns 40,646 shares in the company, valued at approximately $5,766,041.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Foundation Mastercard sold 87,623 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $129.34, for a total transaction of $11,333,158.82. Following the completion of the sale, the insider now owns 112,240,179 shares in the company, valued at $14,517,144,751.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,623 shares of company stock worth $14,916,143. Corporate insiders own 0.30% of the company’s stock.
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 paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.59%. The ex-dividend date is Thursday, October 5th. Mastercard’s payout ratio is currently 20.47%.
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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