Mastercard (NYSE:MA) Price Target Raised to $351.00 at Raymond James

Mastercard (NYSE:MA) had its target price raised by Raymond James from $301.00 to $351.00 in a research report released on Friday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the credit services provider’s stock.

MA has been the topic of a number of other research reports. Goldman Sachs Group initiated coverage on shares of Mastercard in a research report on Tuesday, July 14th. They issued a buy rating and a $364.00 price target on the stock. Citigroup lifted their target price on shares of Mastercard from $317.00 to $344.00 and gave the stock a buy rating in a report on Wednesday, June 17th. Stephens upped their price target on shares of Mastercard from $286.00 to $304.00 and gave the company an overweight rating in a report on Wednesday, May 6th. Susquehanna Bancshares dropped their price objective on Mastercard from $355.00 to $330.00 and set a positive rating on the stock in a research note on Thursday, April 30th. Finally, Wells Fargo & Co increased their target price on Mastercard from $325.00 to $335.00 and gave the company an overweight rating in a research note on Monday, July 13th. Five research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $331.97.

NYSE MA traded down $0.47 during trading on Friday, hitting $308.53. 4,684,553 shares of the company traded hands, compared to its average volume of 3,495,101. Mastercard has a 12 month low of $199.99 and a 12 month high of $347.25. The business has a fifty day simple moving average of $301.05 and a 200 day simple moving average of $291.69. The company has a market capitalization of $310.16 billion, a P/E ratio of 42.67, a PEG ratio of 3.82 and a beta of 1.08. The company has a current ratio of 1.95, a quick ratio of 1.87 and a debt-to-equity ratio of 1.92.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, July 30th. The credit services provider reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.21. Mastercard had a return on equity of 129.52% and a net margin of 45.12%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. The firm’s revenue for the quarter was down 19.8% on a year-over-year basis. Equities research analysts predict that Mastercard will post 6.49 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, July 8th. Mastercard’s dividend payout ratio is 20.59%.

In other news, Vice Chairman Ann Cairns sold 40,115 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $302.58, for a total transaction of $12,137,996.70. Following the completion of the sale, the insider now owns 107,377 shares of the company’s stock, valued at $32,490,132.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ajay Banga sold 61,067 shares of Mastercard stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $315.89, for a total transaction of $19,290,454.63. Following the completion of the transaction, the chief executive officer now owns 384,371 shares of the company’s stock, valued at approximately $121,418,955.19. The disclosure for this sale can be found here. Insiders sold 1,005,122 shares of company stock worth $304,245,598 over the last quarter. Company insiders own 3.79% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of MA. Pacific Center for Financial Services grew its holdings in shares of Mastercard by 582.4% during the first quarter. Pacific Center for Financial Services now owns 116 shares of the credit services provider’s stock worth $28,000 after purchasing an additional 99 shares during the last quarter. 1776 Wealth LLC acquired a new stake in Mastercard in the 1st quarter valued at about $28,000. Sound Income Strategies LLC increased its position in Mastercard by 70.5% in the 1st quarter. Sound Income Strategies LLC now owns 133 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 55 shares in the last quarter. Evolution Wealth Advisors LLC raised its stake in shares of Mastercard by 530.4% in the second quarter. Evolution Wealth Advisors LLC now owns 145 shares of the credit services provider’s stock worth $43,000 after acquiring an additional 122 shares during the last quarter. Finally, Lion Street Advisors LLC acquired a new position in shares of Mastercard during the first quarter worth approximately $39,000. Hedge funds and other institutional investors 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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Analyst Recommendations for Mastercard (NYSE:MA)

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