Mastercard Incorporated (NYSE:MA) had its target price increased by Citigroup Inc. from $157.00 to $167.00 in a report released on Wednesday, October 18th. The firm currently has a “buy” rating on the credit services provider’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 13.92% from the company’s previous close.
A number of other research firms also recently commented on MA. Instinet reaffirmed a “buy” rating and set a $163.00 target price (up previously from $153.00) on shares of Mastercard in a report on Saturday, September 9th. Deutsche Bank AG reaffirmed a “buy” rating and set a $150.00 target price (up previously from $124.00) on shares of Mastercard in a report on Monday, July 10th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $161.00 target price on shares of Mastercard in a report on Friday, October 13th. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $158.00 price target (up previously from $149.00) on shares of Mastercard in a report on Friday, September 8th. Finally, Zacks Investment Research raised Mastercard from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $148.54.
Shares of Mastercard (NYSE MA) traded up 0.52% during midday trading on Wednesday, reaching $147.35. 1,177,647 shares of the company traded hands. The firm has a market capitalization of $156.91 billion, a PE ratio of 36.56 and a beta of 1.18. The stock has a 50 day moving average price of $142.60 and a 200 day moving average price of $128.49. Mastercard has a 1-year low of $99.51 and a 1-year high of $148.45.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the firm earned $0.96 EPS. Mastercard’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts expect that Mastercard will post $4.44 earnings per share for the current fiscal year.
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In related news, major shareholder Foundation Mastercard sold 29,206 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $127.97, for a total transaction of $3,737,491.82. Following the transaction, the insider now directly owns 112,386,209 shares in the company, valued at $14,382,063,165.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martina Hundmejean sold 91,107 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total value of $11,824,777.53. Following the transaction, the chief financial officer now owns 170,570 shares in the company, valued at $22,138,280.30. The disclosure for this sale can be found here. Insiders have sold 408,172 shares of company stock worth $53,121,532 over the last 90 days. Corporate insiders own 0.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. bought a new stake in shares of Mastercard in the 3rd quarter valued at approximately $12,094,000. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of Mastercard by 42.6% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 575,528 shares of the credit services provider’s stock valued at $81,264,000 after purchasing an additional 171,873 shares during the period. Gardiner Nancy B grew its stake in shares of Mastercard by 4.4% in the 3rd quarter. Gardiner Nancy B now owns 13,651 shares of the credit services provider’s stock valued at $1,928,000 after purchasing an additional 575 shares during the period. Penserra Capital Management LLC bought a new stake in shares of Mastercard in the 3rd quarter valued at approximately $413,000. Finally, Glenview State Bank Trust DEPT. grew its stake in shares of Mastercard by 14.3% in the 3rd quarter. Glenview State Bank Trust DEPT. now owns 5,600 shares of the credit services provider’s stock valued at $790,000 after purchasing an additional 700 shares during the period. Institutional investors own 75.98% 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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