Mastercard Incorporated (MA) Rating Reiterated by BMO Capital Markets
Mastercard Incorporated (NYSE:MA)‘s stock had its “outperform” rating reaffirmed by investment analysts at BMO Capital Markets in a report issued on Wednesday. They presently have a $174.00 price objective on the credit services provider’s stock, up from their prior price objective of $157.00. BMO Capital Markets’ price objective suggests a potential upside of 17.32% from the stock’s current price.
Several other analysts also recently weighed in on MA. Piper Jaffray Companies reissued an “overweight” rating and issued a $150.00 target price (up from $143.00) on shares of Mastercard in a report on Friday, September 8th. Oppenheimer Holdings, Inc. boosted their target price on Mastercard and gave the company an “outperform” rating in a report on Tuesday, July 18th. BidaskClub raised Mastercard from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Mastercard from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a report on Wednesday, July 5th. Finally, Cowen and Company reissued an “outperform” rating and issued a $137.00 target price (up from $129.00) on shares of Mastercard in a report on Sunday, July 30th. 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 company. The company currently has a consensus rating of “Buy” and a consensus price target of $156.34.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.11. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.28 billion. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. Mastercard’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 EPS.
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In related news, Director Richard Haythornthwaite sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $142.51, for a total value of $712,550.00. Following the sale, the director now owns 45,278 shares in the company, valued at approximately $6,452,567.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 87,623 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $129.34, for a total value of $11,333,158.82. Following the completion of the sale, the insider now directly owns 112,240,179 shares in the company, valued at approximately $14,517,144,751.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,623 shares of company stock worth $14,916,143. Insiders own 0.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Bank of Hawaii lifted its stake in Mastercard by 4.1% in the 3rd quarter. Bank of Hawaii now owns 28,290 shares of the credit services provider’s stock valued at $3,995,000 after buying an additional 1,105 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Mastercard by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,239,603 shares of the credit services provider’s stock valued at $316,232,000 after buying an additional 54,301 shares in the last quarter. Smith Asset Management Group LP purchased a new stake in Mastercard in the 3rd quarter valued at approximately $8,948,000. Smith Salley & Associates lifted its stake in Mastercard by 1.1% in the 3rd quarter. Smith Salley & Associates now owns 71,094 shares of the credit services provider’s stock valued at $10,038,000 after buying an additional 807 shares in the last quarter. Finally, Blackhill Capital Inc. purchased a new stake in Mastercard in the 3rd quarter valued at approximately $2,824,000. 76.09% of the stock is currently owned by hedge funds and other institutional investors.
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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