Visa Inc (V) Given Buy Rating at Citigroup Inc
Visa Inc (NYSE:V)‘s stock had its “buy” rating reiterated by research analysts at Citigroup Inc in a note issued to investors on Thursday. They presently have a $100.00 target price on the credit-card processor’s stock. Citigroup Inc’s price objective would suggest a potential upside of 5.63% from the company’s previous close.
V has been the subject of a number of other reports. Vetr downgraded shares of Visa from a “buy” rating to a “hold” rating and set a $95.32 target price for the company. in a research note on Wednesday, May 3rd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $100.00 target price (up from $95.00) on shares of Visa in a research note on Tuesday, April 25th. CIBC boosted their target price on shares of Visa from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Royal Bank of Canada boosted their price target on shares of Visa from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. Finally, Barclays PLC reissued an “overweight” rating and set a $106.00 price target (up from $103.00) on shares of Visa in a research note on Sunday, April 23rd. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $95.38.
Shares of Visa (NYSE:V) traded down 0.39% during midday trading on Thursday, hitting $94.67. 4,133,942 shares of the company’s stock traded hands. Visa has a 1-year low of $73.25 and a 1-year high of $95.38. The firm has a market capitalization of $221.53 billion, a price-to-earnings ratio of 38.17 and a beta of 1.00. The company has a 50 day moving average price of $91.72 and a 200 day moving average price of $85.70.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, April 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.07. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.29 billion. Visa had a net margin of 38.30% and a return on equity of 26.48%. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. Equities analysts anticipate that Visa will post $3.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Friday, May 19th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.70%. The ex-dividend date is Wednesday, May 17th. Visa’s dividend payout ratio (DPR) is currently 26.09%.
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In other Visa news, Vice Chairman Ellen Richey sold 31,260 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total transaction of $2,874,044.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.
A number of hedge funds have recently bought and sold shares of V. Sumitomo Mitsui Asset Management Company LTD raised its stake in Visa by 5.4% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 575,171 shares of the credit-card processor’s stock valued at $47,566,000 after buying an additional 29,273 shares during the period. Kissinger Financial Services LLC bought a new position in shares of Visa during the third quarter valued at $258,000. Peregrine Capital Management LLC bought a new position in shares of Visa during the third quarter valued at $25,693,000. Virginia Retirement Systems ET AL raised its position in shares of Visa by 21.1% in the third quarter. Virginia Retirement Systems ET AL now owns 926,900 shares of the credit-card processor’s stock valued at $76,655,000 after buying an additional 161,800 shares during the last quarter. Finally, WCM Investment Management CA raised its position in shares of Visa by 99.5% in the third quarter. WCM Investment Management CA now owns 464,314 shares of the credit-card processor’s stock valued at $38,399,000 after buying an additional 231,530 shares during the last quarter. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
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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