Research Analysts Issue Forecasts for Visa Inc.’s Q3 2017 Earnings (NYSE:V)
Visa Inc. (NYSE:V) – Research analysts at KeyCorp issued their Q3 2017 EPS estimates for shares of Visa in a research report issued to clients and investors on Monday. KeyCorp analyst J. Beck forecasts that the credit-card processor will post earnings per share of $0.78 for the quarter. KeyCorp also issued estimates for Visa’s Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.31 EPS and FY2018 earnings at $3.86 EPS.
V has been the topic of a number of other reports. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $95.32 price target on the stock in a research note on Thursday, April 27th. Wedbush restated an “outperform” rating and set a $100.00 target price (up from $96.00) on shares of Visa in a research note on Tuesday, June 6th. Royal Bank Of Canada upped their target price 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. Deutsche Bank AG upped their target price on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Finally, Cowen and Company restated an “outperform” rating and set a $100.00 target price on shares of Visa in a research note on Monday, March 27th. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $99.25.
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Visa (V) opened at 98.25 on Thursday. Visa has a 1-year low of $75.17 and a 1-year high of $98.33. The company has a 50-day moving average of $95.22 and a 200 day moving average of $89.98. The stock has a market cap of $226.61 billion, a P/E ratio of 49.03 and a beta of 0.93.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, April 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.29 billion. Visa had a net margin of 28.78% and a return on equity of 29.14%. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 EPS.
Several institutional investors have recently added to or reduced their stakes in V. State Street Corp increased its stake in shares of Visa by 0.9% in the first quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after buying an additional 722,878 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Visa by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after buying an additional 73,926 shares during the last quarter. Norges Bank bought a new stake in shares of Visa during the fourth quarter valued at approximately $1,335,803,000. Fisher Asset Management LLC increased its stake in shares of Visa by 3.0% in the second quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock valued at $1,464,483,000 after buying an additional 452,183 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of Visa by 3.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 14,002,819 shares of the credit-card processor’s stock valued at $1,092,500,000 after buying an additional 531,327 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.
In other Visa news, Vice Chairman Ellen Richey sold 31,260 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total value of $2,874,044.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.
Visa announced that its board has initiated a stock repurchase program on Thursday, April 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Wednesday, August 16th. Visa’s payout ratio is 33.00%.
Visa Company Profile
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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