Mastercard (NYSE:MA) Hits New 1-Year High After Analyst Upgrade
Mastercard Inc (NYSE:MA)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Nomura raised their price target on the stock from $324.00 to $354.00. Nomura currently has a buy rating on the stock. Mastercard traded as high as $316.70 and last traded at $314.12, with a volume of 534407 shares. The stock had previously closed at $315.21.
A number of other brokerages have also recently issued reports on MA. ValuEngine cut Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Guggenheim set a $305.00 target price on Mastercard and gave the stock a “buy” rating in a report on Friday, November 1st. Compass Point began coverage on Mastercard in a report on Thursday, December 5th. They set a “buy” rating and a $330.00 target price for the company. Moffett Nathanson boosted their target price on Mastercard from to and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, SunTrust Banks boosted their target price on Mastercard from $325.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $313.73.
In other Mastercard news, major shareholder Foundation Mastercard sold 7,542 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $271.96, for a total value of $2,051,122.32. Following the transaction, the insider now directly owns 111,992,604 shares of the company’s stock, valued at approximately $30,457,508,583.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Miebach sold 4,205 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $315.00, for a total value of $1,324,575.00. Following the completion of the transaction, the insider now directly owns 16,983 shares in the company, valued at $5,349,645. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,108 shares of company stock valued at $36,637,812. 3.70% of the stock is owned by company insiders.
The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $313.93 billion, a price-to-earnings ratio of 48.24, a price-to-earnings-growth ratio of 2.16 and a beta of 1.03. The company has a 50-day moving average of $296.91 and a 200-day moving average of $280.46.
Mastercard (NYSE:MA) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.14. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.41 billion. Mastercard had a return on equity of 146.92% and a net margin of 42.50%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 EPS. On average, research analysts forecast that Mastercard Inc will post 7.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be given a dividend of $0.40 per share. This is a positive change from Mastercard’s previous quarterly dividend of $0.33. This represents a $1.60 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, January 8th. Mastercard’s dividend payout ratio is currently 24.65%.
Mastercard announced that its board has initiated a stock buyback plan on Tuesday, December 3rd that permits the company to buyback $8.00 billion in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
Mastercard Company Profile (NYSE:MA)
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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