FY2024 Earnings Estimate for Mastercard Issued By KeyCorp

Mastercard Incorporated (NYSE:MA) – Equities research analysts at KeyCorp issued their FY2024 earnings per share (EPS) estimates for shares of Mastercard in a report issued on Wednesday, December 18th. KeyCorp analyst A. Markgraff forecasts that the credit services provider will post earnings per share of $14.47 for the year. KeyCorp currently has a “Overweight” rating and a $580.00 target price on the stock. The consensus estimate for Mastercard’s current full-year earnings is $14.47 per share. KeyCorp also issued estimates for Mastercard’s Q4 2024 earnings at $3.69 EPS.

Mastercard (NYSE:MA) last announced its earnings results on Thursday, October 31st. The credit services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter in the previous year, the business posted $3.39 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis.

Other analysts have also recently issued reports about the company. Macquarie boosted their price target on Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley increased their target price on Mastercard from $564.00 to $654.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup lifted their price target on Mastercard from $566.00 to $572.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Royal Bank of Canada reissued an “outperform” rating and set a $572.00 price objective on shares of Mastercard in a research report on Thursday, November 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Mastercard in a report on Monday, November 25th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $562.76.

Mastercard Price Performance

Shares of MA opened at $528.03 on Friday. Mastercard has a fifty-two week low of $416.53 and a fifty-two week high of $537.13. The firm’s 50-day simple moving average is $520.12 and its two-hundred day simple moving average is $484.29. The stock has a market cap of $484.64 billion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29.

Institutional Investors Weigh In On Mastercard

Several hedge funds and other institutional investors have recently modified their holdings of MA. Diversified LLC boosted its position in shares of Mastercard by 60.9% in the second quarter. Diversified LLC now owns 713 shares of the credit services provider’s stock worth $315,000 after purchasing an additional 270 shares during the period. Traynor Capital Management Inc. raised its holdings in Mastercard by 8.1% during the second quarter. Traynor Capital Management Inc. now owns 453 shares of the credit services provider’s stock valued at $200,000 after acquiring an additional 34 shares during the period. Family Firm Inc. purchased a new position in shares of Mastercard in the second quarter valued at about $78,000. LRI Investments LLC boosted its stake in shares of Mastercard by 1,086.8% in the second quarter. LRI Investments LLC now owns 2,243 shares of the credit services provider’s stock worth $990,000 after acquiring an additional 2,054 shares during the period. Finally, McAdam LLC grew its position in shares of Mastercard by 17.6% during the second quarter. McAdam LLC now owns 982 shares of the credit services provider’s stock worth $433,000 after purchasing an additional 147 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Mastercard declared that its board has authorized a stock buyback program on Tuesday, December 17th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the credit services provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Mastercard Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, January 9th. This is a boost from Mastercard’s previous quarterly dividend of $0.66. Mastercard’s dividend payout ratio (DPR) is currently 23.00%.

About Mastercard

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.