Zacks Investment Research cut shares of Visa Inc (NYSE:V) from a buy rating to a hold rating in a report published on Tuesday morning.
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”
Several other research firms also recently commented on V. Jefferies Group LLC upped their price objective on shares of Visa from $125.00 to $127.00 and gave the company a buy rating in a report on Monday, October 30th. Buckingham Research upped their price objective on shares of Visa from $129.00 to $130.00 and gave the company a buy rating in a report on Thursday, October 26th. Nomura upped their price objective on shares of Visa from $120.00 to $126.00 and gave the company a buy rating in a report on Thursday, October 26th. Barclays PLC upped their price objective on shares of Visa from $123.00 to $128.00 and gave the company an overweight rating in a report on Thursday, October 26th. Finally, Loop Capital upped their price objective on shares of Visa from $111.00 to $123.00 and gave the company a buy rating in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $116.08.
Shares of Visa (NYSE V) opened at $111.36 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.65 and a debt-to-equity ratio of 0.61. Visa has a 1 year low of $75.17 and a 1 year high of $111.42. The stock has a market cap of $254.65 billion, a price-to-earnings ratio of 31.89, a price-to-earnings-growth ratio of 1.63 and a beta of 0.98.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. equities analysts anticipate that Visa will post 4.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, November 16th. This is a positive change from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio (DPR) is 24.54%.
In related news, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of V. Vanguard Group Inc. increased its position in Visa by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after purchasing an additional 2,628,148 shares during the period. BlackRock Inc. increased its position in Visa by 1.3% during the 2nd quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after purchasing an additional 1,440,034 shares during the period. State Street Corp increased its position in Visa by 0.9% during the 1st quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after purchasing an additional 722,878 shares during the period. Jennison Associates LLC increased its position in Visa by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock valued at $2,239,872,000 after purchasing an additional 209,764 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Visa by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after purchasing an additional 73,926 shares during the period. Institutional investors and hedge funds own 81.75% of the company’s stock.
Visa Company Profile
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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