Raymond James Lowers Visa to Market Perform (V)
Visa (NYSE:V) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports.
Visa (NYSE:V) opened at 217.13 on Thursday. Visa has a 52 week low of $173.81 and a 52 week high of $235.50. The stock has a 50-day moving average of $215.3 and a 200-day moving average of $214.4. The company has a market cap of $136.4 billion and a price-to-earnings ratio of 24.79.
Visa (NYSE:V) last released its earnings data 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 0.74%. The ex-dividend date of this dividend is Wednesday, August 13th.
A number of other firms have also recently commented on V. Analysts at Zacks reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, August 13th. They now have a $2.25 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Visa in a research note on Wednesday, August 13th. They now have a $243.00 price target on the stock, up previously from $237.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Visa in a research note on Friday, July 25th. They now have a $237.00 price target on the stock, down previously from $248.00. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Visa currently has an average rating of “Buy” and a consensus price target of $235.56.
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.