Mastercard (NYSE:MA) had its price objective lowered by Barclays from $370.00 to $335.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the credit services provider’s stock. Barclays‘s price target points to a potential upside of 29.79% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank increased their price target on Mastercard from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. SunTrust Banks dropped their price target on Mastercard from $380.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday. Compass Point initiated coverage on Mastercard in a research note on Thursday, December 5th. They issued a “buy” rating and a $330.00 price target on the stock. Tigress Financial restated a “buy” rating on shares of Mastercard in a research note on Wednesday, March 18th. Finally, Macquarie initiated coverage on Mastercard in a research note on Tuesday, January 21st. They issued an “outperform” rating and a $365.00 price target on the stock. Three analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $322.00.
Shares of Mastercard stock traded up $1.62 on Thursday, reaching $258.10. 577,453 shares of the company were exchanged, compared to its average volume of 10,147,128. Mastercard has a one year low of $199.99 and a one year high of $347.25. The company has a market capitalization of $238.28 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 1.79 and a beta of 1.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average of $294.04 and a 200 day moving average of $290.15.
Mastercard (NYSE:MA) last posted its quarterly earnings results on Wednesday, January 29th. The credit services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.09. Mastercard had a return on equity of 150.46% and a net margin of 48.08%. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the prior year, the business earned $1.55 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts predict that Mastercard will post 8.74 earnings per share for the current year.
Mastercard announced that its board has initiated a stock repurchase program on Tuesday, December 3rd that authorizes the company to buyback $8.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
In related news, Director Lance Darrell Gordon Uggla bought 1,000 shares of Mastercard stock in a transaction dated Wednesday, March 11th. The shares were bought at an average cost of $265.00 per share, with a total value of $265,000.00. Following the acquisition, the director now owns 5,691 shares in the company, valued at approximately $1,508,115. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Grunde Mclaughlin sold 28,526 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $302.16, for a total value of $8,619,416.16. Following the sale, the insider now directly owns 43,215 shares in the company, valued at $13,057,844.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 425,819 shares of company stock worth $135,948,244. 3.70% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Pantheon Investment Group LLC acquired a new position in Mastercard during the fourth quarter worth about $861,000. HighMark Wealth Management LLC acquired a new position in Mastercard during the fourth quarter worth about $59,000. Quadrant Capital Group LLC raised its position in Mastercard by 7.3% during the fourth quarter. Quadrant Capital Group LLC now owns 16,422 shares of the credit services provider’s stock worth $4,876,000 after acquiring an additional 1,114 shares during the last quarter. Macquarie Group Ltd. raised its position in Mastercard by 4.0% during the fourth quarter. Macquarie Group Ltd. now owns 709,496 shares of the credit services provider’s stock worth $211,848,000 after acquiring an additional 27,092 shares during the last quarter. Finally, Wealth Advisors Inc. acquired a new position in Mastercard during the fourth quarter worth about $12,736,000. 75.61% of the stock is currently owned by institutional investors and hedge funds.
Mastercard Company Profile
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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