Mastercard Incorporated (MA) Coverage Initiated at Buckingham Research
Equities researchers at Buckingham Research started coverage on shares of Mastercard Incorporated (NYSE:MA) in a research note issued on Monday. The firm set a “buy” rating and a $163.00 price target on the credit services provider’s stock. Buckingham Research’s target price indicates a potential upside of 15.44% from the company’s previous close.
Several other analysts have also weighed in on MA. Zacks Investment Research raised 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, September 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $156.00 target price on shares of Mastercard in a research note on Friday, September 22nd. Morgan Stanley reissued an “overweight” rating and issued a $160.00 target price (up from $138.00) on shares of Mastercard in a report on Tuesday, September 19th. Cantor Fitzgerald assumed coverage on Mastercard in a report on Thursday. They issued an “overweight” rating and a $165.00 target price on the stock. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $150.00 price target (up from $143.00) on shares of Mastercard in a research report on Friday, September 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Mastercard presently has an average rating of “Buy” and an average price target of $143.08.
Mastercard (NYSE MA) opened at 141.20 on Monday. The stock’s 50 day moving average price is $133.90 and its 200 day moving average price is $122.61. The firm has a market capitalization of $150.36 billion, a P/E ratio of 35.04 and a beta of 1.18. Mastercard has a 12 month low of $99.51 and a 12 month high of $143.59.
Mastercard (NYSE:MA) last posted its earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.06. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. On average, analysts forecast that Mastercard will post $4.43 earnings per share for the current year.
In other news, major shareholder Foundation Mastercard sold 87,618 shares of Mastercard stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $126.60, for a total transaction of $11,092,438.80. Following the transaction, the insider now owns 112,736,681 shares in the company, valued at approximately $14,272,463,814.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Vosburg sold 14,200 shares of Mastercard 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 transaction, the insider now owns 40,646 shares in the company, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. Insiders sold a total of 864,668 shares of company stock valued at $111,589,106 in the last three months. 0.30% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its holdings in shares of Mastercard by 784.3% in the second quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock valued at $2,048,899,000 after buying an additional 14,962,583 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Mastercard by 289.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,570,551 shares of the credit services provider’s stock worth $433,643,000 after acquiring an additional 2,654,308 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Mastercard by 2.9% during the first quarter. Vanguard Group Inc. now owns 63,807,040 shares of the credit services provider’s stock worth $7,176,378,000 after acquiring an additional 1,814,116 shares in the last quarter. Capital Research Global Investors increased its position in shares of Mastercard by 15.8% during the second quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock worth $1,540,665,000 after acquiring an additional 1,729,179 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Mastercard by 22,644.6% during the first quarter. Clearbridge Investments LLC now owns 1,685,146 shares of the credit services provider’s stock worth $189,528,000 after acquiring an additional 1,677,737 shares in the last quarter. Hedge funds and other institutional investors own 76.05% 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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