Seaport Res Ptn Comments on Mastercard Incorporated’s Q3 2024 Earnings (NYSE:MA)

Mastercard Incorporated (NYSE:MA) – Stock analysts at Seaport Res Ptn dropped their Q3 2024 earnings per share estimates for shares of Mastercard in a research note issued on Wednesday, May 1st. Seaport Res Ptn analyst J. Cantwell now forecasts that the credit services provider will earn $3.81 per share for the quarter, down from their previous estimate of $3.86. The consensus estimate for Mastercard’s current full-year earnings is $14.32 per share.

A number of other brokerages also recently issued reports on MA. TD Cowen began coverage on shares of Mastercard in a research report on Thursday, April 11th. They set a “buy” rating and a $545.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on Mastercard from $520.00 to $510.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley lowered their price objective on Mastercard from $536.00 to $524.00 and set an “overweight” rating on the stock in a research report on Thursday. Robert W. Baird boosted their price objective on Mastercard from $525.00 to $545.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $510.00 price target on shares of Mastercard in a report on Thursday, February 1st. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $493.55.

Mastercard Price Performance

NYSE MA opened at $443.58 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.09 and a debt-to-equity ratio of 1.86. Mastercard has a 52 week low of $357.85 and a 52 week high of $490.00. The firm has a market capitalization of $413.81 billion, a P/E ratio of 35.26, a PEG ratio of 1.71 and a beta of 1.08. The company has a 50-day moving average price of $469.57 and a 200-day moving average price of $437.74.

Mastercard (NYSE:MA) last released its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, beating the consensus estimate of $3.22 by $0.09. Mastercard had a return on equity of 183.70% and a net margin of 46.09%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same period last year, the firm posted $2.80 earnings per share. Mastercard’s revenue was up 10.4% compared to the same quarter last year.

Hedge Funds Weigh In On Mastercard

Large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Mastercard in the fourth quarter valued at approximately $4,595,559,000. International Assets Investment Management LLC raised its position in Mastercard by 43,445.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,936,684 shares of the credit services provider’s stock valued at $1,252,525,000 after purchasing an additional 2,929,940 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Mastercard by 3,339.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 815,506 shares of the credit services provider’s stock worth $322,867,000 after buying an additional 791,799 shares during the period. Vanguard Group Inc. grew its position in shares of Mastercard by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock worth $32,096,470,000 after buying an additional 742,076 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of Mastercard by 3.3% during the fourth quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after buying an additional 676,452 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Insider Activity at Mastercard

In other news, CEO Michael Miebach sold 7,851 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $475.92, for a total transaction of $3,736,447.92. Following the transaction, the chief executive officer now owns 47,640 shares of the company’s stock, valued at approximately $22,672,828.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Michael Miebach sold 7,851 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $475.92, for a total transaction of $3,736,447.92. Following the transaction, the chief executive officer now directly owns 47,640 shares in the company, valued at approximately $22,672,828.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foundation Mastercard sold 116,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $445.04, for a total transaction of $51,624,640.00. Following the completion of the sale, the insider now directly owns 96,651,308 shares in the company, valued at $43,013,698,112.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 583,088 shares of company stock valued at $266,873,978. Insiders own 0.13% of the company’s stock.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Tuesday, April 9th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Monday, April 8th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.60%. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.