Royal Bank of Canada Raises Mastercard (MA) Price Target to $232.00

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Mastercard (NYSE:MA) had its price objective lifted by Royal Bank of Canada from $223.00 to $232.00 in a report released on Tuesday morning, The Fly reports. They currently have an outperform rating on the credit services provider’s stock. The analysts noted that the move was a valuation call.

MA has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Mastercard from a buy rating to a hold rating in a research report on Wednesday, July 11th. Oppenheimer upped their price target on shares of Mastercard from $197.00 to $215.00 and gave the stock an outperform rating in a research note on Tuesday, July 17th. Morgan Stanley upped their price target on shares of Mastercard from $224.00 to $228.00 and gave the stock an overweight rating in a research note on Friday, July 27th. KeyCorp reiterated an overweight rating and issued a $230.00 price target (up previously from $200.00) on shares of Mastercard in a research note on Thursday, July 26th. Finally, Sandler O’Neill reiterated a hold rating and issued a $209.00 price target on shares of Mastercard in a research note on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $208.56.

Shares of Mastercard stock opened at $217.22 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.11. The firm has a market cap of $222.26 billion, a price-to-earnings ratio of 47.43, a P/E/G ratio of 1.76 and a beta of 1.19. Mastercard has a 12-month low of $137.75 and a 12-month high of $218.69.

Mastercard (NYSE:MA) last released its earnings results on Thursday, July 26th. The credit services provider reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.13. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. Mastercard had a net margin of 33.81% and a return on equity of 103.82%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. analysts forecast that Mastercard will post 6.41 earnings per share for the current year.

In other Mastercard news, CFO Martina Hundmejean sold 69,817 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $200.35, for a total transaction of $13,987,835.95. Following the transaction, the chief financial officer now owns 128,905 shares in the company, valued at approximately $25,826,116.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Mastercard in the 2nd quarter worth approximately $109,000. Fort L.P. purchased a new stake in Mastercard in the 2nd quarter worth approximately $120,000. Carroll Financial Associates Inc. increased its holdings in Mastercard by 87.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 644 shares of the credit services provider’s stock worth $126,000 after acquiring an additional 300 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Mastercard in the 2nd quarter worth approximately $131,000. Finally, Financial Gravity Wealth Inc. purchased a new stake in Mastercard in the 1st quarter worth approximately $133,000. Hedge funds and other institutional investors own 74.43% 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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