Mastercard Incorporated (MA) Expected to Earn FY2017 Earnings of $4.57 Per Share
Mastercard Incorporated (NYSE:MA) – Equities researchers at Cantor Fitzgerald boosted their FY2017 earnings estimates for Mastercard in a research report issued to clients and investors on Wednesday. Cantor Fitzgerald analyst J. Foresi now forecasts that the credit services provider will post earnings of $4.57 per share for the year, up from their previous estimate of $4.44. Cantor Fitzgerald has a “Buy” rating and a $165.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Mastercard’s FY2018 earnings at $5.36 EPS.
A number of other research firms have also commented on MA. BMO Capital Markets reiterated an “outperform” rating and issued a $174.00 price target (up previously from $157.00) on shares of Mastercard in a research report on Wednesday. J P Morgan Chase & Co upped their price target on Mastercard from $152.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday. SunTrust Banks, Inc. upped their price target on Mastercard to $180.00 and gave the company a “buy” rating in a research report on Wednesday. KeyCorp reiterated an “overweight” rating and issued a $170.00 price target (up previously from $165.00) on shares of Mastercard in a research report on Wednesday. Finally, Nomura upped their price target on Mastercard from $163.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $156.34.
TRADEMARK VIOLATION WARNING: This story was posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2017/11/02/mastercard-incorporated-ma-expected-to-earn-fy2017-earnings-of-4-57-per-share.html. Mastercard (NYSE:MA) last released its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.11. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.28 billion. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. Mastercard’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, October 6th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, October 5th. Mastercard’s dividend payout ratio (DPR) is presently 20.47%.
In other 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 completion of the transaction, the director now directly owns 45,278 shares of the company’s stock, valued at $6,452,567.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 58,412 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $129.87, for a total value of $7,585,966.44. Following the completion of the transaction, the insider now directly owns 112,298,591 shares of the company’s stock, valued at $14,584,218,013.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 171,035 shares of company stock valued at $22,502,109. Company insiders own 0.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Glassman Wealth Services grew its holdings in shares of Mastercard by 0.3% in the first quarter. Glassman Wealth Services now owns 1,769 shares of the credit services provider’s stock valued at $199,000 after acquiring an additional 6 shares in the last quarter. Norway Savings Bank grew its holdings in Mastercard by 1.1% during the second quarter. Norway Savings Bank now owns 960 shares of the credit services provider’s stock valued at $117,000 after purchasing an additional 10 shares during the period. Proficio Capital Partners LLC grew its holdings in Mastercard by 1.3% during the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock valued at $118,000 after purchasing an additional 12 shares during the period. Concert Wealth Management Inc. grew its holdings in Mastercard by 0.3% during the first quarter. Concert Wealth Management Inc. now owns 6,467 shares of the credit services provider’s stock valued at $664,000 after purchasing an additional 18 shares during the period. Finally, Berkshire Asset Management LLC PA grew its holdings in 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 valued at $783,000 after purchasing an additional 18 shares during the period. 76.09% of the stock is owned by institutional investors.
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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