Mastercard Incorporated (MA) to Post FY2017 Earnings of $4.54 Per Share, KeyCorp Forecasts
Mastercard Incorporated (NYSE:MA) – Equities researchers at KeyCorp increased their FY2017 earnings estimates for shares of Mastercard in a report issued on Tuesday. KeyCorp analyst J. Beck now anticipates that the credit services provider will post earnings of $4.54 per share 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.
Several other equities analysts have also issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $174.00 target price (up from $157.00) on shares of Mastercard in a report on Wednesday. J P Morgan Chase & Co lifted their target price on shares of Mastercard from $152.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday. SunTrust Banks, Inc. lifted their target price on shares of Mastercard to $180.00 and gave the company a “buy” rating in a report on Wednesday. Nomura lifted their target price on shares of Mastercard from $163.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Loop Capital lifted their target price on shares of Mastercard to $167.00 and gave the company a “buy” rating in a report on Wednesday. They noted that the move was a valuation call. One equities 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’s stock. Mastercard currently has an average rating of “Buy” and an average price target of $156.34.
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Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $3.40 billion during 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%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, October 6th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, October 5th. Mastercard’s dividend payout ratio (DPR) is 20.47%.
In related news, insider Michael Fraccaro sold 5,800 shares of Mastercard stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $147.59, for a total transaction of $856,022.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Foundation Mastercard sold 87,623 shares of Mastercard stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $129.34, for a total transaction of $11,333,158.82. Following the transaction, the insider now 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 have sold 171,035 shares of company stock worth $22,502,109. 0.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boys Arnold & Co. Inc. lifted its stake in shares of Mastercard by 7.8% during the 2nd quarter. Boys Arnold & Co. Inc. now owns 5,006 shares of the credit services provider’s stock valued at $608,000 after buying an additional 363 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Mastercard during the 2nd quarter valued at $2,351,000. Baldwin Investment Management LLC lifted its stake in shares of Mastercard by 5.9% during the 2nd quarter. Baldwin Investment Management LLC now owns 3,600 shares of the credit services provider’s stock valued at $437,000 after buying an additional 200 shares in the last quarter. Personal Capital Advisors Corp lifted its stake in shares of Mastercard by 3.3% during the 2nd quarter. Personal Capital Advisors Corp now owns 270,438 shares of the credit services provider’s stock valued at $32,845,000 after buying an additional 8,670 shares in the last quarter. Finally, IBM Retirement Fund lifted its stake in shares of Mastercard by 68.8% during the 2nd quarter. IBM Retirement Fund now owns 23,051 shares of the credit services provider’s stock valued at $3,128,000 after buying an additional 9,397 shares in the last quarter. Institutional investors own 76.09% 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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