Mastercard’s (MA) “Buy” Rating Reiterated at Wedbush
Wedbush reissued their buy rating on shares of Mastercard Incorporated (NYSE:MA) in a research note issued to investors on Wednesday morning. They currently have a $140.00 target price on the credit services provider’s stock, up from their previous target price of $129.00. Wedbush also issued estimates for Mastercard’s Q4 2017 earnings at $1.07 EPS, FY2017 earnings at $4.37 EPS, Q1 2018 earnings at $1.15 EPS, Q2 2018 earnings at $1.28 EPS, Q3 2018 earnings at $1.38 EPS, Q4 2018 earnings at $1.31 EPS and FY2018 earnings at $5.11 EPS.
A number of other brokerages also recently weighed in on MA. Vetr downgraded Mastercard from a hold rating to a sell rating and set a $115.30 price objective on the stock. in a research report on Monday, May 22nd. Deutsche Bank AG reaffirmed a buy rating and set a $124.00 price objective on shares of Mastercard in a research report on Thursday, May 25th. Morgan Stanley raised their price objective on Mastercard from $124.00 to $131.00 and gave the company an overweight rating in a research report on Tuesday, May 30th. BidaskClub downgraded Mastercard from a strong-buy rating to a buy rating in a research report on Saturday, June 10th. Finally, Royal Bank Of Canada reaffirmed a top pick rating and set a $130.00 price objective on shares of Mastercard in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $136.78.
Shares of Mastercard (MA) opened at 137.22 on Wednesday. The stock’s 50 day moving average is $131.41 and its 200-day moving average is $120.91. Mastercard has a one year low of $97.49 and a one year high of $138.64. The company has a market cap of $146.13 billion, a PE ratio of 34.05 and a beta of 1.18.
Mastercard (NYSE:MA) last announced its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.98 billion. Mastercard had a return on equity of 74.92% and a net margin of 38.30%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 earnings per share. Equities research analysts expect that Mastercard will post $4.40 earnings per share for the current year.
In related news, CFO Martina Hundmejean sold 91,107 shares of Mastercard stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the completion of the transaction, the chief financial officer now directly owns 170,570 shares in the company, valued at $22,138,280.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Foundation Mastercard sold 87,618 shares of Mastercard stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $126.60, for a total value of $11,092,438.80. Following the transaction, the insider now owns 112,736,681 shares of the company’s stock, valued at $14,272,463,814.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 850,468 shares of company stock valued at $109,574,694. 0.30% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. American Beacon Advisors Inc. purchased a new position in Mastercard during the first quarter valued at approximately $100,000. Lipe & Dalton purchased a new position in Mastercard during the first quarter valued at approximately $101,000. Chicago Partners Investment Group LLC raised its position in Mastercard by 1,365.6% during the second quarter. Chicago Partners Investment Group LLC now owns 938 shares of the credit services provider’s stock valued at $105,000 after acquiring an additional 874 shares in the last quarter. Thompson Davis & CO. Inc. raised its position in Mastercard by 170.1% during the second quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock valued at $105,000 after acquiring an additional 546 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in Mastercard by 108.2% during the first quarter. Proficio Capital Partners LLC now owns 893 shares of the credit services provider’s stock valued at $108,000 after acquiring an additional 464 shares in the last quarter. Institutional investors own 76.10% 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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