Zacks Investment Research upgraded shares of Visa Inc. (NYSE:V) from a hold rating to a buy rating in a research note published on Thursday morning. The firm currently has $121.00 target price on the credit-card processor’s stock.
According to Zacks, “Shares of Visa have outperformed the industry, year to date. The company’s fiscal fourth-quarter earnings surpassed the Zacks Consensus Estimate and grew year over year. Numerous strategic acquisitions and alliances, technology upgrades and effective marketing have paved the way for the company's long-term growth that have led to consistent revenue growth over the past several years. Visa is well poised to gain from the growing electronic payment processing and strong international business. A solid balance sheet ensures effective capital deployment. Strong earnings guidance instills our confidence in the company. However, higher client incentives and forex volatility are some near-term headwinds”
A number of other brokerages also recently weighed in on V. Vetr downgraded Visa from a buy rating to a hold rating and set a $113.35 target price on the stock. in a research note on Wednesday. Cowen and Company restated a buy rating and issued a $107.00 target price on shares of Visa in a research note on Thursday, October 12th. Mizuho restated a buy rating and issued a $115.00 target price on shares of Visa in a research note on Thursday, October 12th. Cantor Fitzgerald restated a buy rating and issued a $120.00 target price on shares of Visa in a research note on Wednesday. Finally, Jefferies Group LLC restated a buy rating and issued a $125.00 target price (up previously from $112.00) on shares of Visa in a research note on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $115.95.
Shares of Visa (NYSE:V) opened at 109.71 on Thursday. Visa has a 1-year low of $75.17 and a 1-year high of $110.74. The company has a market cap of $250.84 billion, a price-to-earnings ratio of 40.80 and a beta of 0.93. The firm has a 50-day moving average price of $106.44 and a 200 day moving average price of $98.96.
Visa (NYSE:V) last announced its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. On average, analysts predict that Visa will post $3.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, November 16th. This is a boost from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio is currently 23.57%.
In related news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in V. Waldron LP increased its stake in Visa by 61.6% in the first quarter. Waldron LP now owns 8,951 shares of the credit-card processor’s stock valued at $791,000 after acquiring an additional 3,412 shares during the last quarter. Whittier Trust Co. boosted its position in Visa by 2.2% during the first quarter. Whittier Trust Co. now owns 350,371 shares of the credit-card processor’s stock valued at $31,137,000 after buying an additional 7,634 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Visa by 1.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 110,164 shares of the credit-card processor’s stock valued at $9,790,000 after buying an additional 1,358 shares during the period. Rothschild Capital Partners LLC purchased a new stake in Visa during the first quarter valued at about $2,326,000. Finally, Capital Advisors Inc. OK boosted its position in Visa by 32.3% during the first quarter. Capital Advisors Inc. OK now owns 177,914 shares of the credit-card processor’s stock valued at $15,811,000 after buying an additional 43,407 shares during the period. 81.69% of the stock is currently owned by institutional investors and hedge funds.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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