Visa Given Outperform Rating at Zacks (V)
Visa (NYSE:V)‘s stock had its “outperform” rating reaffirmed by Zacks in a report released on Wednesday. They currently have a $2.25 price objective on the stock. Zacks‘s target price would suggest a potential downside of 98.93% from the stock’s previous close.
Zacks’ analyst wrote, “Little known Toronto, Canada-based Cynapsus Therapeutics is one of our best ideas for investment in the small-cap biotechnology sector. The company currently trades with a market capitalization of only $75 million, yet sits on a potential $750 million drug for the treatment of Parkinson’s disease. The leading drug is APL-130277, a sublingual formulation of apomorphine, designed as a rescue medication for patients experiencing “off” time in-between their daily levodopa dosing. We like Cynapsus because the costs and risks to develop APL-130277 are low, and the exit strategy is clear – develop APL-130277 to the point where a new drug application (NDA) can be filed, and then sell the company to a larger pharmaceutical looking to commercial. Based on the data and market research that we have seen, Cynapsus shares offer a potential six-fold increase in returns.”
Visa (NYSE:V) traded up 0.73% during mid-day trading on Wednesday, hitting $211.43. 1,612,787 shares of the company’s stock traded hands. Visa has a 52 week low of $172.21 and a 52 week high of $235.50. The stock has a 50-day moving average of $214.6 and a 200-day moving average of $214.6. The company has a market cap of $132.8 billion and a P/E ratio of 24.01.
Visa (NYSE:V) last announced its earnings results on Thursday, July 24th. The company reported $2.17 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.88 earnings per share. Visa’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Visa will post $8.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 3rd. Investors of record on Friday, August 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Wednesday, August 13th.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Visa in a research note on Wednesday. They now have a $243.00 price target on the stock, up previously from $237.00. Finally, 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. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $235.54.
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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