Mastercard (NYSE:MA) Given New $591.00 Price Target at Piper Sandler

Mastercard (NYSE:MA) had its target price raised by Piper Sandler from $575.00 to $591.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Mastercard from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays increased their price target on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Macquarie boosted their price objective on Mastercard from $505.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. William Blair restated an “outperform” rating on shares of Mastercard in a research note on Monday, November 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $572.00 target price on shares of Mastercard in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $567.29.

Mastercard Stock Down 0.1 %

Shares of NYSE:MA opened at $533.50 on Friday. The business’s 50 day moving average is $524.77 and its 200 day moving average is $497.46. Mastercard has a 12-month low of $428.86 and a 12-month high of $537.70. The stock has a market cap of $489.66 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 2.10 and a beta of 1.10. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.36.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. The firm had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.27 billion. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.39 EPS. On average, sell-side analysts forecast that Mastercard will post 14.47 earnings per share for the current fiscal year.

Mastercard declared that its board has authorized a share buyback plan on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Mastercard Increases Dividend

The business 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 dividend of $0.76 per share. This is a boost from Mastercard’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, January 10th. This represents a $3.04 dividend on an annualized basis and a yield of 0.57%. Mastercard’s dividend payout ratio is 23.00%.

Institutional Investors Weigh In On Mastercard

A number of institutional investors and hedge funds have recently modified their holdings of MA. Capital Investment Advisory Services LLC grew its position in Mastercard by 0.6% during the fourth quarter. Capital Investment Advisory Services LLC now owns 3,135 shares of the credit services provider’s stock worth $1,651,000 after buying an additional 19 shares in the last quarter. Goldstein Advisors LLC boosted its position in shares of Mastercard by 1.3% during the 3rd quarter. Goldstein Advisors LLC now owns 1,516 shares of the credit services provider’s stock valued at $749,000 after acquiring an additional 20 shares during the last quarter. Community Bank N.A. grew its holdings in shares of Mastercard by 0.9% during the third quarter. Community Bank N.A. now owns 2,190 shares of the credit services provider’s stock worth $1,081,000 after purchasing an additional 20 shares in the last quarter. Raab & Moskowitz Asset Management LLC increased its position in shares of Mastercard by 1.5% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,398 shares of the credit services provider’s stock worth $690,000 after purchasing an additional 20 shares during the last quarter. Finally, Boltwood Capital Management raised its stake in Mastercard by 1.0% in the fourth quarter. Boltwood Capital Management now owns 2,055 shares of the credit services provider’s stock valued at $1,082,000 after purchasing an additional 20 shares in the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

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.