FY2024 Earnings Forecast for Mastercard Issued By KeyCorp

Mastercard Incorporated (NYSE:MA) – Analysts at KeyCorp issued their FY2024 earnings estimates for shares of Mastercard in a report issued on Wednesday, December 18th. KeyCorp analyst A. Markgraff expects 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.

Several other brokerages also recently commented on MA. William Blair restated an “outperform” rating on shares of Mastercard in a research report on Monday, November 25th. Barclays increased their target price on Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley lifted their price target on Mastercard from $564.00 to $654.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen increased their price objective on Mastercard from $533.00 to $567.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Susquehanna lifted their target price on Mastercard from $540.00 to $605.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mastercard currently has a consensus rating of “Moderate Buy” and an average target price of $562.76.

Mastercard Price Performance

MA stock opened at $528.03 on Friday. The firm has a 50-day moving average of $520.12 and a two-hundred day moving average of $484.02. The firm has a market capitalization of $484.64 billion, a PE ratio of 39.94, a P/E/G ratio of 2.38 and a beta of 1.10. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. Mastercard has a one year low of $416.53 and a one year high of $537.13.

Mastercard (NYSE:MA) last issued its earnings results 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. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the previous year, the firm posted $3.39 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis.

Mastercard Increases Dividend

The company 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 an increase from Mastercard’s previous quarterly dividend of $0.66. This represents a $3.04 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, January 9th. Mastercard’s dividend payout ratio is currently 19.97%.

Mastercard announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 17th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the credit services provider to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Mastercard

Hedge funds have recently bought and sold shares of the company. Goldstein Advisors LLC lifted 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 worth $749,000 after buying an additional 20 shares during the period. Community Bank N.A. raised its stake in 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 acquiring an additional 20 shares in the last quarter. Raab & Moskowitz Asset Management LLC raised its stake in Mastercard by 1.5% during the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,398 shares of the credit services provider’s stock worth $690,000 after acquiring an additional 20 shares in the last quarter. McLean Asset Management Corp lifted its holdings in shares of Mastercard by 1.3% during the third quarter. McLean Asset Management Corp now owns 1,677 shares of the credit services provider’s stock valued at $834,000 after acquiring an additional 21 shares during the period. Finally, Oldfather Financial Services LLC boosted its stake in shares of Mastercard by 2.6% in the 3rd quarter. Oldfather Financial Services LLC now owns 827 shares of the credit services provider’s stock valued at $408,000 after purchasing an additional 21 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors.

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.