MasterCard Inc. (NYSE:MA) – Investment analysts at William Blair raised their Q3 2016 earnings estimates for MasterCard in a note issued to investors on Thursday. William Blair analyst R. Napoli now forecasts that the brokerage will post earnings of $0.94 per share for the quarter, up from their prior forecast of $0.89. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for MasterCard’s FY2016 earnings at $3.60 EPS.
MasterCard (NYSE:MA) last released its earnings results on Thursday, July 28th. The company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.06. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.59 billion. MasterCard had a return on equity of 66.32% and a net margin of 37.39%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS.
Several other brokerages have also commented on MA. Jefferies Group reissued a “buy” rating on shares of MasterCard in a report on Friday, August 12th. Nomura raised their price objective on MasterCard from $109.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, September 8th. Barclays PLC raised their price objective on MasterCard from $107.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, September 8th. Vetr raised MasterCard from a “hold” rating to a “buy” rating and set a $111.32 price objective on the stock in a report on Tuesday, October 11th. Finally, Pacific Crest set a $110.00 price objective on MasterCard and gave the company a “buy” rating in a report on Wednesday, September 14th. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. MasterCard has a consensus rating of “Buy” and an average price target of $109.90.
MasterCard (NYSE:MA) opened at 100.88 on Friday. The company has a market cap of $110.74 billion, a P/E ratio of 29.59 and a beta of 1.19. MasterCard has a 52-week low of $78.52 and a 52-week high of $103.49. The stock’s 50 day moving average price is $100.15 and its 200 day moving average price is $96.07.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 9th. Stockholders of record on Monday, October 10th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Wednesday, October 5th. MasterCard’s payout ratio is currently 22.35%.
In other MasterCard news, Director Richard Haythornthwaite sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $101.78, for a total transaction of $508,900.00. Following the completion of the sale, the director now directly owns 52,423 shares of the company’s stock, valued at approximately $5,335,612.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Reeg sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $94.79, for a total value of $568,740.00. Following the sale, the insider now directly owns 53,501 shares of the company’s stock, valued at $5,071,359.79. The disclosure for this sale can be found here. 3.14% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc increased its stake in MasterCard by 2.2% in the first quarter. Legal & General Group Plc now owns 4,178,642 shares of the company’s stock valued at $394,829,000 after buying an additional 88,996 shares in the last quarter. First Quadrant L P CA boosted its position in MasterCard by 4.5% in the second quarter. First Quadrant L P CA now owns 128,980 shares of the company’s stock valued at $11,358,000 after buying an additional 5,600 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in MasterCard by 8.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,485,510 shares of the company’s stock valued at $140,381,000 after buying an additional 115,900 shares during the last quarter. Atwood & Palmer Inc. boosted its position in MasterCard by 1.3% in the second quarter. Atwood & Palmer Inc. now owns 191,251 shares of the company’s stock valued at $16,842,000 after buying an additional 2,389 shares during the last quarter. Finally, Gluskin Sheff & Assoc Inc. boosted its position in MasterCard by 15.6% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 403,288 shares of the company’s stock valued at $35,514,000 after buying an additional 54,375 shares during the last quarter. 75.13% of the stock is owned by hedge funds and other institutional investors.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world. The Company operates through payment solutions segment. The Company allows user to make payments by a range of payment solutions and services using various brands, which include MasterCard, Maestro and Cirrus.
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