Q3 2017 EPS Estimates for Mastercard Incorporated Cut by Analyst (MA)
Mastercard Incorporated (NYSE:MA) – Stock analysts at SunTrust Banks cut their Q3 2017 earnings estimates for shares of Mastercard in a research note issued to investors on Thursday. SunTrust Banks analyst A. Jeffrey now anticipates that the credit services provider will post earnings of $1.16 per share for the quarter, down from their previous estimate of $1.20. SunTrust Banks also issued estimates for Mastercard’s FY2017 earnings at $4.37 EPS and FY2018 earnings at $5.04 EPS.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.06. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.98 billion. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. COPYRIGHT VIOLATION NOTICE: “Q3 2017 EPS Estimates for Mastercard Incorporated Cut by Analyst (MA)” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/08/10/q3-2017-eps-estimates-for-mastercard-incorporated-cut-by-analyst-ma-updated.html.
A number of other research firms have also recently issued reports on MA. Loop Capital raised their price objective on Mastercard from $132.00 to $144.00 and gave the company a “positive” rating in a research report on Friday. They noted that the move was a valuation call. BMO Capital Markets raised their price objective on Mastercard from $126.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday. Cowen and Company reaffirmed an “outperform” rating and issued a $137.00 price objective (up from $129.00) on shares of Mastercard in a research report on Sunday. Oppenheimer Holdings, Inc. raised their price objective on Mastercard and gave the company an “outperform” rating in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $147.00 price objective (up from $140.00) on shares of Mastercard in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-one have given 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 $128.20.
Mastercard (NYSE:MA) opened at 127.91 on Monday. The firm has a 50-day moving average price of $124.61 and a 200 day moving average price of $116.07. The company has a market capitalization of $136.21 billion, a P/E ratio of 31.74 and a beta of 1.17. Mastercard has a 12 month low of $94.41 and a 12 month high of $132.20.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Shareholders of record on Friday, July 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Wednesday, July 5th. Mastercard’s dividend payout ratio is presently 21.78%.
In other Mastercard news, CEO Ajay Banga sold 161,742 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $117.27, for a total value of $18,967,484.34. Following the sale, 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 document filed with the SEC, which is available at the SEC website. Also, major shareholder Foundation Mastercard sold 87,618 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $127.98, for a total value of $11,213,351.64. Following the completion of the sale, the insider now directly owns 112,649,063 shares in the company, valued at approximately $14,416,827,082.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 629,038 shares of company stock worth $79,003,630. Company insiders own 0.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MA. Vanguard Group Inc. increased its stake in Mastercard by 2.9% in the first quarter. Vanguard Group Inc. now owns 63,807,040 shares of the credit services provider’s stock valued at $7,176,378,000 after buying an additional 1,814,116 shares during the period. State Street Corp increased its stake in Mastercard by 0.4% in the first quarter. State Street Corp now owns 37,454,824 shares of the credit services provider’s stock valued at $4,212,546,000 after buying an additional 140,515 shares during the period. Ameriprise Financial Inc. increased its stake in Mastercard by 6.2% in the first quarter. Ameriprise Financial Inc. now owns 10,168,300 shares of the credit services provider’s stock valued at $1,143,636,000 after buying an additional 591,427 shares during the period. Canada Pension Plan Investment Board increased its stake in Mastercard by 1.4% in the first quarter. Canada Pension Plan Investment Board now owns 8,409,658 shares of the credit services provider’s stock valued at $945,834,000 after buying an additional 114,900 shares during the period. Finally, Norges Bank purchased a new stake in Mastercard during the fourth quarter valued at $857,217,000. 75.83% of the stock is currently owned by institutional investors.
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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