Morgan Stanley Reaffirms Overweight Rating for Visa Inc. (V)
Visa Inc. (NYSE:V)‘s stock had its “overweight” rating reiterated by analysts at Morgan Stanley in a research note issued on Saturday. They presently have a $114.00 target price on the credit-card processor’s stock, up from their previous target price of $107.00. Morgan Stanley’s price objective would indicate a potential upside of 14.46% from the company’s current price.
A number of other brokerages also recently issued reports on V. Bank of America Corporation increased their price target on Visa from $103.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday. Cowen and Company reissued an “outperform” rating and set a $107.00 price target (up previously from $105.00) on shares of Visa in a research report on Saturday. Loop Capital increased their price target on Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday. They noted that the move was a valuation call. Instinet increased their price target on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Nomura increased their price target on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $102.94.
Visa (NYSE:V) traded up 1.52% during 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 of $95.30 and a 200 day moving average of $90.04. The company has a market capitalization of $229.72 billion, a price-to-earnings ratio of 49.70 and a beta of 0.93. Visa has a one year low of $75.17 and a one year high of $100.49.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. The business 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 31.04% and a net margin of 36.53%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. Equities analysts forecast that Visa will post $3.37 EPS for the current fiscal year.
Visa announced that its Board of Directors has approved a stock buyback plan on Thursday, April 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the credit-card processor to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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In other 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 filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Mercer Capital Advisers Inc. increased its stake in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares in the last quarter. Mascoma Wealth Management LLC purchased a new stake in shares of Visa during the second quarter valued at approximately $122,000. SpiderRock Advisors LLC increased its stake in shares of Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after buying an additional 19,709 shares in the last quarter. Advantage Investment Management LLC increased its stake in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after buying an additional 314 shares in the last quarter. Finally, Delta Asset Management LLC TN increased its stake in shares of Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after buying an additional 38 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.
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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