JPMorgan Chase & Co. Reiterates “Overweight” Rating for Visa (V)
Visa (NYSE:V)‘s stock had its “overweight” rating restated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday. They currently have a $243.00 price target on the stock, up from their previous price target of $237.00. JPMorgan Chase & Co.’s price objective indicates a potential upside of 15.55% from the stock’s previous close.
Visa (NYSE:V) traded up 0.93% on Wednesday, hitting $211.8608. The stock had a trading volume of 603,882 shares. Visa has a 1-year low of $172.21 and a 1-year high of $235.50. The stock’s 50-day moving average is $214.6 and its 200-day moving average is $214.6. The company has a market cap of $133.1 billion and a price-to-earnings ratio of 24.01.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.07. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the company posted $1.88 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that Visa will post $8.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 3rd. Investors of record on Friday, August 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 0.76%. The ex-dividend date of this dividend is Wednesday, August 13th.
A number of other analysts have also recently weighed in on V. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Visa in a research note on Friday, July 25th. They now have a $281.00 price target on the stock, down previously from $289.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Visa in a research note on Friday, July 25th. They now have a $234.00 price target on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Visa in a research note on Friday, July 25th. They now have a $228.00 price target on the stock. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Visa has an average rating of “Buy” and an average price target of $246.57.
Visa Inc (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and electronic payments.
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