Oppenheimer Holdings Research Analysts Lift Earnings Estimates for Mastercard Incorporated (MA)
Mastercard Incorporated (NYSE:MA) – Equities research analysts at Oppenheimer Holdings lifted their FY2017 earnings per share (EPS) estimates for Mastercard in a note issued to investors on Tuesday. Oppenheimer Holdings analyst G. Greene now forecasts that the credit services provider will post earnings per share of $4.57 for the year, up from their previous forecast of $4.50. Oppenheimer Holdings has a “Buy” rating and a $145.00 price target on the stock. Oppenheimer Holdings also issued estimates for Mastercard’s Q3 2018 earnings at $1.50 EPS, Q4 2018 earnings at $1.36 EPS, FY2018 earnings at $5.32 EPS and FY2019 earnings at $6.18 EPS.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The firm had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year.
Other analysts have also issued reports about the company. BMO Capital Markets reissued an “outperform” rating and set a $174.00 price objective (up from $157.00) on shares of Mastercard in a report on Wednesday. J P Morgan Chase & Co boosted their price objective on Mastercard from $152.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday. SunTrust Banks, Inc. boosted their price objective on Mastercard to $180.00 and gave the stock a “buy” rating in a report on Wednesday. KeyCorp reaffirmed an “overweight” rating and issued a $170.00 target price (up from $165.00) on shares of Mastercard in a report on Wednesday. Finally, Nomura upped their target price on Mastercard from $163.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $156.34.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, October 6th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.88 annualized dividend and a yield of 0.59%. Mastercard’s dividend payout ratio (DPR) is presently 20.47%.
In other Mastercard news, major shareholder Foundation Mastercard sold 87,623 shares of the firm’s stock in a transaction dated 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 $14,517,144,751.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Haythornthwaite sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $142.51, for a total transaction of $712,550.00. Following the completion of the sale, the director now owns 45,278 shares of the company’s stock, valued at $6,452,567.78. The disclosure for this sale can be found here. Insiders sold 171,035 shares of company stock valued at $22,502,109 over the last 90 days. 0.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Karp Capital Management Corp purchased a new position in shares of Mastercard during the first quarter valued at approximately $52,728,000. First Foundation Advisors purchased a new position in shares of Mastercard during the first quarter valued at approximately $324,000. Sei Investments Co. lifted its holdings in shares of Mastercard by 2.6% during the first quarter. Sei Investments Co. now owns 1,199,546 shares of the credit services provider’s stock valued at $134,913,000 after purchasing an additional 29,924 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Mastercard by 1.6% during the first quarter. First Eagle Investment Management LLC now owns 1,718,197 shares of the credit services provider’s stock valued at $193,246,000 after purchasing an additional 26,269 shares during the last quarter. Finally, Baker Chad R lifted its holdings in shares of Mastercard by 2.7% during the first quarter. Baker Chad R now owns 55,815 shares of the credit services provider’s stock valued at $6,277,000 after purchasing an additional 1,475 shares during the last quarter. Institutional investors and hedge funds own 76.09% of the company’s stock.
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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