Mastercard (NYSE:MA) Price Target Increased to $340.00 by Analysts at SunTrust Banks

Mastercard (NYSE:MA) had its price target lifted by SunTrust Banks from $325.00 to $340.00 in a report published on Wednesday, The Fly reports. SunTrust Banks currently has a buy rating on the credit services provider’s stock.

MA has been the topic of a number of other reports. ValuEngine cut shares of Mastercard from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Citigroup raised their price target on shares of Mastercard from $288.00 to $317.00 and gave the stock a buy rating in a report on Monday, September 9th. BMO Capital Markets raised their price target on shares of Mastercard to $348.00 and gave the stock an outperform rating in a report on Thursday, October 31st. They noted that the move was a valuation call. Morgan Stanley lifted their price target on shares of Mastercard from $291.00 to $315.00 and gave the company an overweight rating in a research note on Monday, September 16th. Finally, Tigress Financial reiterated a buy rating on shares of Mastercard in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $305.13.

MA traded down $0.17 on Wednesday, hitting $289.88. 839,535 shares of the stock were exchanged, compared to its average volume of 2,701,523. The firm has a market capitalization of $291.62 billion, a price-to-earnings ratio of 44.67, a PEG ratio of 2.35 and a beta of 1.04. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. Mastercard has a 12 month low of $171.89 and a 12 month high of $293.69. The business has a 50-day moving average of $280.72 and a two-hundred day moving average of $273.49.

Mastercard (NYSE:MA) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.01 by $0.14. Mastercard had a net margin of 42.50% and a return on equity of 146.92%. The company had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same period in the previous year, the company earned $1.78 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities research analysts expect that Mastercard will post 7.69 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.60 annualized dividend and a yield of 0.55%. This is a positive change from Mastercard’s previous quarterly dividend of $0.33. Mastercard’s dividend payout ratio (DPR) is 20.34%.

Mastercard declared that its board has approved a stock buyback program on Tuesday, December 3rd that allows the company to repurchase $8.00 billion in shares. This repurchase authorization allows the credit services provider to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other Mastercard news, major shareholder Foundation Mastercard sold 7,542 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $278.16, for a total transaction of $2,097,882.72. Following the sale, the insider now owns 112,015,230 shares of the company’s stock, valued at approximately $31,158,156,376.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Haythornthwaite sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $280.00, for a total transaction of $1,400,000.00. Following the transaction, the director now owns 32,119 shares in the company, valued at approximately $8,993,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,509 shares of company stock valued at $26,273,562. 3.70% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of MA. Nuveen Asset Management LLC lifted its position in shares of Mastercard by 2,608.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,177,186 shares of the credit services provider’s stock worth $2,427,641,000 after purchasing an additional 8,838,385 shares during the last quarter. Polen Capital Management LLC lifted its position in Mastercard by 65.9% in the 2nd quarter. Polen Capital Management LLC now owns 4,392,067 shares of the credit services provider’s stock worth $1,161,833,000 after buying an additional 1,744,262 shares in the last quarter. Invesco Ltd. lifted its position in Mastercard by 50.9% in the 2nd quarter. Invesco Ltd. now owns 5,016,084 shares of the credit services provider’s stock worth $1,326,906,000 after buying an additional 1,691,911 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Mastercard by 12.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,943,219 shares of the credit services provider’s stock worth $3,640,576,000 after buying an additional 1,548,776 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in Mastercard by 1,440.8% in the 2nd quarter. Putnam Investments LLC now owns 955,348 shares of the credit services provider’s stock worth $252,719,000 after buying an additional 893,346 shares in the last quarter. Institutional investors and hedge funds own 73.87% of the company’s stock.

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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