Mastercard Incorporated (NYSE:MA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, November 8th.
According to Zacks, “Mastercard’s stock has outperformed the industry year to date. Its third-quarter 2017 earnings surpassed the Zacks Consensus Estimate, mainly driven by strong transaction, higher cross border volumes and gains from acquisitions. Mastercard is well positioned for growth given its solid market position, ongoing expansion and digital initiatives, and significant opportunities from the secular shift toward electronic payments. The acquisitions of VocaLink and NuData Security complement the company’s efforts to participate in new payment flows and enhance its safety and security offerings. It, however, continues to face increasing costs, a volatile forex environment and legal issues. Also, higher incentives and rewards will put pressure on the bottom line.”
Several other analysts have also issued reports on MA. Cowen and Company restated an “outperform” rating and issued a $137.00 price objective (up from $129.00) on shares of Mastercard in a report on Sunday, July 30th. Cantor Fitzgerald began coverage on shares of Mastercard in a research note on Thursday, September 28th. They set an “overweight” rating and a $165.00 price target on the stock. BidaskClub upgraded shares of Mastercard from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Loop Capital boosted their price target on shares of Mastercard from $132.00 to $144.00 and gave the stock a “positive” rating in a research note on Friday, July 28th. They noted that the move was a valuation call. Finally, Mizuho reiterated a “hold” rating and set a $140.00 price target on shares of Mastercard in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $157.68.
Shares of Mastercard (MA) traded up $2.88 on Wednesday, reaching $152.44. 2,000,465 shares of the company’s stock traded hands, compared to its average volume of 3,148,049. Mastercard has a 52 week low of $99.51 and a 52 week high of $152.00. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $158,330.00, a PE ratio of 34.58, a PEG ratio of 1.99 and a beta of 1.22.
Mastercard (NYSE:MA) last posted its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.28 billion. Mastercard had a return on equity of 78.38% and a net margin of 38.70%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. sell-side analysts predict that Mastercard will post 4.54 EPS for the current year.
In other Mastercard news, Director Richard Haythornthwaite sold 5,000 shares of Mastercard stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $142.51, for a total transaction of $712,550.00. Following the sale, the director now directly owns 45,278 shares in the company, valued at approximately $6,452,567.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Vosburg sold 14,200 shares of Mastercard stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $141.86, for a total value of $2,014,412.00. Following the completion of the transaction, the insider now owns 40,646 shares of the company’s stock, valued at approximately $5,766,041.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,000 shares of company stock worth $3,582,984. Company insiders own 0.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of MA. Pioneer Investment Management Inc. boosted its position in Mastercard by 2.5% during the 1st quarter. Pioneer Investment Management Inc. now owns 4,128,538 shares of the credit services provider’s stock valued at $464,336,000 after purchasing an additional 99,565 shares during the period. Holderness Investments Co. acquired a new stake in shares of Mastercard during the first quarter worth $802,000. State of Wisconsin Investment Board raised its position in shares of Mastercard by 14.5% during the first quarter. State of Wisconsin Investment Board now owns 930,648 shares of the credit services provider’s stock worth $104,670,000 after purchasing an additional 118,208 shares during the period. Jackson Wealth Management LLC raised its position in shares of Mastercard by 3.1% during the first quarter. Jackson Wealth Management LLC now owns 17,548 shares of the credit services provider’s stock worth $1,970,000 after purchasing an additional 527 shares during the period. Finally, Lipe & Dalton acquired a new stake in shares of Mastercard during the first quarter worth $101,000. Institutional investors own 75.71% 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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