Mastercard’s (MA) “Buy” Rating Reaffirmed at Credit Suisse Group
Mastercard Incorporated (NYSE:MA)‘s stock had its “buy” rating restated by equities research analysts at Credit Suisse Group in a research report issued on Friday. They currently have a $125.00 target price on the credit services provider’s stock. Credit Suisse Group’s target price indicates a potential upside of 2.29% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a report on Wednesday. Mizuho initiated coverage on shares of Mastercard in a report on Tuesday, June 27th. They issued a “neutral” rating and a $125.00 target price on the stock. Citigroup Inc. upped their target price on shares of Mastercard from $123.00 to $140.00 and gave the company a “buy” rating in a report on Monday, June 19th. Finally, Royal Bank Of Canada reaffirmed a “top pick” rating and issued a $130.00 target price on shares of Mastercard in a report on Friday, June 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Mastercard currently has an average rating of “Buy” and an average target price of $123.01.
Mastercard (NYSE MA) traded up 1.16% during trading on Friday, reaching $122.20. 2,119,025 shares of the company’s stock traded hands. Mastercard has a 12 month low of $86.65 and a 12 month high of $126.19. The firm has a market cap of $130.98 billion, a PE ratio of 31.91 and a beta of 1.17. The firm has a 50 day moving average price of $121.69 and a 200-day moving average price of $113.06.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Tuesday, May 2nd. The credit services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.94 by $0.07. Mastercard had a net margin of 37.79% and a return on equity of 72.95%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts forecast that Mastercard will post $4.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 9th. Investors of record on Friday, July 7th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.72%. The ex-dividend date is Wednesday, July 5th. Mastercard’s payout ratio is 22.98%.
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In related news, CEO Ajay Banga sold 161,742 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $117.27, for a total value of $18,967,484.34. Following the completion of the transaction, the chief executive officer now owns 333,495 shares of the company’s stock, valued at approximately $39,108,958.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gary J. Flood sold 83,959 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $115.43, for a total transaction of $9,691,387.37. Following the completion of the transaction, the insider now directly owns 78,819 shares of the company’s stock, valued at approximately $9,098,077.17. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of MA. Temasek Holdings Private Ltd acquired a new position in Mastercard during the fourth quarter valued at about $27,568,000. Cim Investment Mangement Inc. increased its position in Mastercard by 1.1% in the fourth quarter. Cim Investment Mangement Inc. now owns 13,105 shares of the credit services provider’s stock valued at $1,353,000 after buying an additional 147 shares during the last quarter. Pennsylvania Trust Co increased its position in Mastercard by 1.6% in the first quarter. Pennsylvania Trust Co now owns 20,733 shares of the credit services provider’s stock valued at $2,332,000 after buying an additional 335 shares during the last quarter. Guggenheim Capital LLC increased its position in Mastercard by 0.3% in the fourth quarter. Guggenheim Capital LLC now owns 764,012 shares of the credit services provider’s stock valued at $78,885,000 after buying an additional 2,504 shares during the last quarter. Finally, SRS Capital Advisors Inc. acquired a new position in Mastercard during the fourth quarter valued at about $231,000. 77.36% of the stock is owned by institutional investors and hedge funds.
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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