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Mastercard (MA) Enhances Offerings With Cost-Effective Rewards
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Mastercard Incorporated (MA - Free Report) recently partnered with Instacart and Peacock to add on-demand access to online shopping and streaming service subscription offerings for its credit cardholders. This move adds to Mastercard’s existing card benefits, awarding more than $60 billion in rewards.
Measures like these are becoming increasingly important for Mastercard as rising costs of everyday necessities are attracting consumers more toward credit cards, which offer cost-effective rewards and benefits. According to recent polls, 95% of consumers owning a rewards credit card choose a credit card based on rewards and points. The company has strategically partnered with Instacart and Peacock as consumers spend more on streaming services and online groceries.
Mastercard will be providing memberships for Instacart+ to eligible World Mastercard and World Elite Mastercard cardholders. Members new to the membership will get a two-month free trial and a discount of $10 dollars on their second eligible purchase from Instacart each month. Customers will also get no delivery fees, lower service fees and credit back benefits. These benefits will increase the customer retention rate for Mastercard and improve its existing offerings.
Customers new to Peacock Premium will get a $3 statement credit on a monthly streaming subscription. Moreover, cardholders will get access to NBCUniversal’s iconic studios and parks, BravoCon etc. Partnership with Peacock is a strategic fit given its shared ideals of a consumer-first approach with Mastercard. These collaborations will help Mastercard increase its top line as payment volumes increase in the future.
Shares of Mastercard have gained 33.6% in the past year compared with the industry’s 20.2% growth. MA currently carries a Zacks Rank #3 (Hold).
The bottom line of Huron Consulting outpaced estimates in each of the last four quarters, the average surprise being 21.8%. The Zacks Consensus Estimate for HURN’s 2023 earnings suggests an improvement of 31.8% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 17% from the year-ago reported number.
FirstCash’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 7.3%. The Zacks Consensus Estimate for FCFS’s 2023 earnings suggests an improvement of 7.5% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 15.5% from the year-ago reported number. The consensus mark for FCFS’s 2023 earnings has moved 0.7% north in the past 30 days.
The bottom line of Visa outpaced estimates in each of the last four quarters, the average surprise being 5.2%. The Zacks Consensus Estimate for V’s fiscal 2023 earnings suggests an improvement of 15.3% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 11.2% from the year-ago actual.
Shares of Huron Consulting, FirstCash and Visa have gained 47.3%, 29.9% and 27%, respectively, in the past year.
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Mastercard (MA) Enhances Offerings With Cost-Effective Rewards
Mastercard Incorporated (MA - Free Report) recently partnered with Instacart and Peacock to add on-demand access to online shopping and streaming service subscription offerings for its credit cardholders. This move adds to Mastercard’s existing card benefits, awarding more than $60 billion in rewards.
Measures like these are becoming increasingly important for Mastercard as rising costs of everyday necessities are attracting consumers more toward credit cards, which offer cost-effective rewards and benefits. According to recent polls, 95% of consumers owning a rewards credit card choose a credit card based on rewards and points. The company has strategically partnered with Instacart and Peacock as consumers spend more on streaming services and online groceries.
Mastercard will be providing memberships for Instacart+ to eligible World Mastercard and World Elite Mastercard cardholders. Members new to the membership will get a two-month free trial and a discount of $10 dollars on their second eligible purchase from Instacart each month. Customers will also get no delivery fees, lower service fees and credit back benefits. These benefits will increase the customer retention rate for Mastercard and improve its existing offerings.
Customers new to Peacock Premium will get a $3 statement credit on a monthly streaming subscription. Moreover, cardholders will get access to NBCUniversal’s iconic studios and parks, BravoCon etc. Partnership with Peacock is a strategic fit given its shared ideals of a consumer-first approach with Mastercard. These collaborations will help Mastercard increase its top line as payment volumes increase in the future.
Shares of Mastercard have gained 33.6% in the past year compared with the industry’s 20.2% 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 Huron Consulting Group Inc. (HURN - Free Report) , FirstCash Holdings, Inc. (FCFS - Free Report) and Visa Inc. (V - Free Report) . Each of these companies carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The bottom line of Huron Consulting outpaced estimates in each of the last four quarters, the average surprise being 21.8%. The Zacks Consensus Estimate for HURN’s 2023 earnings suggests an improvement of 31.8% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 17% from the year-ago reported number.
FirstCash’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 7.3%. The Zacks Consensus Estimate for FCFS’s 2023 earnings suggests an improvement of 7.5% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 15.5% from the year-ago reported number. The consensus mark for FCFS’s 2023 earnings has moved 0.7% north in the past 30 days.
The bottom line of Visa outpaced estimates in each of the last four quarters, the average surprise being 5.2%. The Zacks Consensus Estimate for V’s fiscal 2023 earnings suggests an improvement of 15.3% from the year-ago reported figure. The consensus estimate for revenues suggests growth of 11.2% from the year-ago actual.
Shares of Huron Consulting, FirstCash and Visa have gained 47.3%, 29.9% and 27%, respectively, in the past year.