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Mastercard (MA) Opens Office in Mauritius to Expand Nationwide
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Mastercard Incorporated (MA - Free Report) recently inaugurated its first office in Mauritius. Located in the capital city of the country, Port Louis, the office is likely to provide an opportunity for the tech giant to strengthen its footprint in East Africa and Indian Ocean Islands.
One of the most longstanding endeavors of Mastercard has been to infuse digitization across every corner of the globe and opening a new office across a country that serves as a hub for innovation and digital transformation seems a well-timed move.
MA embarked on an active expansion spree in Mauritius, under which it has entered into some successful collaborations with the country’s financial service providers. Such tie-ups intend to expand the reach of Mastercard’s cutting-edge card offerings across different parts of the country and boost nationwide customer experiences.
Therefore, the latest announcement is yet another part of the expansion strategy that it follows in Mauritius. Having a formal presence in the country in the form of the newly inaugurated office may enable Mastercard to work closely with its partners and gain an in-depth understanding of the unique needs of Mauritius’ customers. Consequent to this, the tech giant can utilize its global and local expertise as well as proven capabilities to introduce innovative payment technologies throughout the region.
This, in turn, aims to enable businesses and consumers of Mauritius to seamlessly engage in digital payments. Apart from looking after its interests in the form of a growing presence, the tech giant also remains committed to contributing to the nation’s economy and technological landscape by hiring and training some expert professionals at the newly established office.
Quite obviously, the recent move is expected to result in a growing customer base for Mastercard and lead to the increased utilization of its product and services suite. This, in turn, may fetch higher revenues to MA. A solid digital suite built through several collaborations with renowned financial service providers and substantial investments has always positioned the tech giant well in harnessing booming digital growth prospects in various regions of the world.
Additionally, the new office in Mauritius bears testament to Mastercard’s broader motive of bolstering its geographical footprint across Africa. The continent remains a favorite pick for MA, owing to its increased Internet adoption, a rapidly growing young population and higher usage of smartphones. In addition to Port Louis, the other prime African locations wherein Mastercard has set up offices are in Cairo, Casablanca, Johannesburg, Lagos and Nairobi.
Last year, the panel of experts at the Advisors Client Services Hub located in Cairo was increased. The hub was set up in 2019 and commenced operations with a skeletal staff of six very able employees and gradually absorbed more than 60 experts in three years. It was also able to complete 200 plus engagements within a short span of less than two years.
Shares of Mastercard have gained 16.4% in the past year compared with the industry’s 14.5% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Limbach outpaced estimates in each of the last four quarters, the average surprise being 92.10%. The Zacks Consensus Estimate for LMB’s 2023 earnings is pegged at $1.75 per share, which indicates an increase of nearly three-fold from the year-ago reported figure. The consensus mark for revenues suggests growth of 1.6% from the year-ago reported number. The consensus mark for LMB’s 2023 earnings has moved 28.7% north in the past 60 days.
Brink’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 3.63%. The Zacks Consensus Estimate for BCO’s 2023 earnings suggests an improvement of 13.7% from the year-ago reported figure. The consensus mark for revenues suggests growth of 7.5% from the year-ago reported number. The consensus mark for BCO’s 2023 earnings has moved 0.1% north in the past 60 days.
The bottom line of FTI Consulting outpaced estimates in three of the last four quarters and missed the mark once, the average surprise being 8.47%. The Zacks Consensus Estimate for FCN’s 2023 earnings suggests an improvement of 3.4% from the year-ago reported figure. The consensus mark for revenues suggests growth of 12.1% from the year-ago actual. The consensus mark for FCN’s 2023 earnings has moved 3.9% north in the past 60 days.
Shares of Limbach, Brink’s and FTI Consulting have gained 244.7%, 46.2% and 39.8%, respectively, in the past year.
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Mastercard (MA) Opens Office in Mauritius to Expand Nationwide
Mastercard Incorporated (MA - Free Report) recently inaugurated its first office in Mauritius. Located in the capital city of the country, Port Louis, the office is likely to provide an opportunity for the tech giant to strengthen its footprint in East Africa and Indian Ocean Islands.
One of the most longstanding endeavors of Mastercard has been to infuse digitization across every corner of the globe and opening a new office across a country that serves as a hub for innovation and digital transformation seems a well-timed move.
MA embarked on an active expansion spree in Mauritius, under which it has entered into some successful collaborations with the country’s financial service providers. Such tie-ups intend to expand the reach of Mastercard’s cutting-edge card offerings across different parts of the country and boost nationwide customer experiences.
Therefore, the latest announcement is yet another part of the expansion strategy that it follows in Mauritius. Having a formal presence in the country in the form of the newly inaugurated office may enable Mastercard to work closely with its partners and gain an in-depth understanding of the unique needs of Mauritius’ customers. Consequent to this, the tech giant can utilize its global and local expertise as well as proven capabilities to introduce innovative payment technologies throughout the region.
This, in turn, aims to enable businesses and consumers of Mauritius to seamlessly engage in digital payments. Apart from looking after its interests in the form of a growing presence, the tech giant also remains committed to contributing to the nation’s economy and technological landscape by hiring and training some expert professionals at the newly established office.
Quite obviously, the recent move is expected to result in a growing customer base for Mastercard and lead to the increased utilization of its product and services suite. This, in turn, may fetch higher revenues to MA. A solid digital suite built through several collaborations with renowned financial service providers and substantial investments has always positioned the tech giant well in harnessing booming digital growth prospects in various regions of the world.
Additionally, the new office in Mauritius bears testament to Mastercard’s broader motive of bolstering its geographical footprint across Africa. The continent remains a favorite pick for MA, owing to its increased Internet adoption, a rapidly growing young population and higher usage of smartphones. In addition to Port Louis, the other prime African locations wherein Mastercard has set up offices are in Cairo, Casablanca, Johannesburg, Lagos and Nairobi.
Last year, the panel of experts at the Advisors Client Services Hub located in Cairo was increased. The hub was set up in 2019 and commenced operations with a skeletal staff of six very able employees and gradually absorbed more than 60 experts in three years. It was also able to complete 200 plus engagements within a short span of less than two years.
Shares of Mastercard have gained 16.4% in the past year compared with the industry’s 14.5% growth. MA currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Business Services space are Limbach Holdings, Inc. (LMB - Free Report) , The Brink's Company (BCO - Free Report) and FTI Consulting, Inc. (FCN - Free Report) . While Limbach sports a Zacks Rank #1 (Strong Buy), Brink’s and FTI Consulting carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Limbach outpaced estimates in each of the last four quarters, the average surprise being 92.10%. The Zacks Consensus Estimate for LMB’s 2023 earnings is pegged at $1.75 per share, which indicates an increase of nearly three-fold from the year-ago reported figure. The consensus mark for revenues suggests growth of 1.6% from the year-ago reported number. The consensus mark for LMB’s 2023 earnings has moved 28.7% north in the past 60 days.
Brink’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 3.63%. The Zacks Consensus Estimate for BCO’s 2023 earnings suggests an improvement of 13.7% from the year-ago reported figure. The consensus mark for revenues suggests growth of 7.5% from the year-ago reported number. The consensus mark for BCO’s 2023 earnings has moved 0.1% north in the past 60 days.
The bottom line of FTI Consulting outpaced estimates in three of the last four quarters and missed the mark once, the average surprise being 8.47%. The Zacks Consensus Estimate for FCN’s 2023 earnings suggests an improvement of 3.4% from the year-ago reported figure. The consensus mark for revenues suggests growth of 12.1% from the year-ago actual. The consensus mark for FCN’s 2023 earnings has moved 3.9% north in the past 60 days.
Shares of Limbach, Brink’s and FTI Consulting have gained 244.7%, 46.2% and 39.8%, respectively, in the past year.