Visa Inc. (V) Given Average Rating of “Buy” by Brokerages
Visa Inc. (NYSE:V) has been assigned a consensus rating of “Buy” from the thirty-three research firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, twenty-six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $101.97.
V has been the topic of several research reports. Citigroup Inc. restated a “buy” rating and set a $100.00 price objective on shares of Visa in a report on Thursday, May 25th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $95.32 price objective on the stock in a report on Thursday, April 27th. Credit Suisse Group restated a “hold” rating on shares of Visa in a report on Wednesday, March 29th. Deutsche Bank AG raised their price objective on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Finally, CIBC raised their price objective on Visa from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th.
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Visa (NYSE V) traded up 1.52% during midday trading on Friday, hitting $99.60. The company had a trading volume of 17,400,234 shares. The stock has a 50 day moving average price of $95.30 and a 200 day moving average price of $90.04. Visa has a 52 week low of $75.17 and a 52 week high of $100.49. The company has a market capitalization of $229.72 billion, a P/E ratio of 49.70 and a beta of 0.93.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 29.14% and a net margin of 28.78%. Visa’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. Equities analysts forecast that Visa will post $3.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s payout ratio is currently 33.00%.
Visa declared that its board has authorized a share buyback plan on Thursday, April 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the credit-card processor to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In other Visa news, Vice Chairman Ellen Richey sold 31,260 shares of Visa stock in a transaction dated Tuesday, April 25th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in V. Insight Capital Research & Management Inc. raised its position in Visa by 10.1% in the second quarter. Insight Capital Research & Management Inc. now owns 25,124 shares of the credit-card processor’s stock worth $2,356,000 after buying an additional 2,295 shares during the last quarter. Quantitative Systematic Strategies LLC raised its position in Visa by 52.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 20,434 shares of the credit-card processor’s stock worth $1,929,000 after buying an additional 7,003 shares during the last quarter. Duncker Streett & Co. Inc. raised its position in Visa by 411.5% in the second quarter. Duncker Streett & Co. Inc. now owns 7,852 shares of the credit-card processor’s stock worth $737,000 after buying an additional 6,317 shares during the last quarter. Delta Asset Management LLC TN raised its position in Visa by 11.7% in the second quarter. Delta Asset Management LLC TN now owns 1,721 shares of the credit-card processor’s stock worth $161,000 after buying an additional 180 shares during the last quarter. Finally, Huntington National Bank raised its position in Visa by 0.4% in the second quarter. Huntington National Bank now owns 353,740 shares of the credit-card processor’s stock worth $33,173,000 after buying an additional 1,252 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.
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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