Visa Given New $235.00 Price Target at Raymond James (V)
Stock analysts at Raymond James increased their target price on shares of Visa (NYSE:V) from $220.00 to $235.00 in a report issued on Friday, StockRatingsNetwork.com reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price objective points to a potential upside of 18.00% from the company’s current price.
In other Visa news, Insider William M. Sheedy sold 8,500 shares of Visa stock on the open market in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $197.81, for a total transaction of $1,681,385.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
V has been the subject of a number of other recent research reports. Analysts at Pacific Crest raised their price target on shares of Visa from $205.00 to $230.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Visa in a research note to investors on Friday. They now have a $207.00 price target on the stock. Finally, analysts at Wedbush raised their price target on shares of Visa from $180.00 to $200.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $208.79.
Visa (NYSE:V) traded up 1.27% on Friday, hitting $199.16. 3,312,182 shares of the company’s stock traded hands. Visa has a 52-week low of $138.53 and a 52-week high of $196.00. The stock has a 50-day moving average of $194.1 and a 200-day moving average of $183.3. The company has a market cap of $128.5 billion and a price-to-earnings ratio of 23.91. Visa also was the recipient of unusually large options trading on Thursday. Stock investors purchased 10,452 put options on the stock. This represents an increase of 207% compared to the typical volume of 3,401 put options.
Visa (NYSE:V) last released its earnings data on Wednesday, October 30th. The company reported $1.85 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.85. The company had revenue of $3.00 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts predict that Visa will post $8.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from Visa’s previous quarterly dividend of $0.33.
Visa Inc (NYSE:V) is a global payments technology company that connects consumers, businesses, banks and governments in more than 200 countries and territories to fast, secure and reliable electronic payments.
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