Mastercard Incorporated (MA) Upgraded to Outperform by Wells Fargo & Company
Mastercard Incorporated (NYSE:MA) was upgraded by analysts at Wells Fargo & Company from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday.
Several other research analysts have also recently weighed in on MA. Royal Bank Of Canada reiterated a “top pick” rating and issued a $130.00 price target on shares of Mastercard in a report on Friday, June 16th. Citigroup Inc. upped their price target on shares of Mastercard from $123.00 to $140.00 and gave the company a “buy” rating in a report on Monday, June 19th. Mizuho initiated coverage on shares of Mastercard in a report on Tuesday, June 27th. They issued a “neutral” rating and a $125.00 price target for the company. Zacks Investment Research upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a report on Wednesday, July 5th. Finally, BidaskClub cut shares of Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $143.08.
Shares of Mastercard (NYSE MA) opened at 145.65 on Wednesday. Mastercard has a 52-week low of $99.51 and a 52-week high of $146.37. The firm has a 50-day moving average of $138.85 and a 200-day moving average of $125.91. The stock has a market cap of $155.10 billion, a P/E ratio of 36.14 and a beta of 1.18.
Mastercard (NYSE:MA) last released its quarterly earnings results on Thursday, July 27th. The credit services provider reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.06. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.96 earnings per share. On average, equities analysts expect that Mastercard will post $4.44 EPS for the current fiscal year.
In other news, CFO Martina Hundmejean sold 91,107 shares of the 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 directly owns 170,570 shares of the company’s stock, valued at $22,138,280.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $142.51, for a total transaction of $712,550.00. Following the completion of the transaction, the director now directly owns 45,278 shares in the company, valued at $6,452,567.78. The disclosure for this sale can be found here. Insiders sold 869,668 shares of company stock worth $112,301,656 over the last three months. Insiders own 0.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of MA. Waldron LP bought a new position in Mastercard during the first quarter worth about $823,000. Trust Investment Advisors increased its position in Mastercard by 9.3% during the first quarter. Trust Investment Advisors now owns 5,895 shares of the credit services provider’s stock worth $663,000 after acquiring an additional 500 shares during the period. Wrapmanager Inc. increased its position in Mastercard by 5.8% during the first quarter. Wrapmanager Inc. now owns 6,617 shares of the credit services provider’s stock worth $744,000 after acquiring an additional 362 shares during the period. Signature Estate & Investment Advisors LLC increased its position in Mastercard by 2.1% during the first quarter. Signature Estate & Investment Advisors LLC now owns 142,159 shares of the credit services provider’s stock worth $15,989,000 after acquiring an additional 2,982 shares during the period. Finally, Wealth Architects LLC bought a new position in Mastercard during the first quarter worth about $209,000. 76.05% 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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