$4.62 Billion in Sales Expected for Visa Inc. (V) This Quarter
Wall Street analysts predict that Visa Inc. (NYSE:V) will post sales of $4.62 billion for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Visa’s earnings, with the lowest sales estimate coming in at $4.57 billion and the highest estimate coming in at $4.67 billion. Visa reported sales of $4.26 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.5%. The firm is scheduled to report its next earnings results on Monday, October 23rd.
According to Zacks, analysts expect that Visa will report full-year sales of $4.62 billion for the current financial year, with estimates ranging from $17.97 billion to $18.17 billion. For the next year, analysts expect that the firm will post sales of $19.84 billion per share, with estimates ranging from $19.09 billion to $20.14 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Visa.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business earned $0.69 EPS.
Several analysts have weighed in on V shares. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective for the company in a research report on Tuesday, June 27th. Instinet boosted their price objective on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Wells Fargo & Company reiterated a “market perform” rating and issued a $100.00 price objective (up previously from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Citigroup Inc. reiterated a “buy” rating and issued a $115.00 price objective (up previously from $100.00) on shares of Visa in a research report on Monday, July 24th. Finally, Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $105.35.
Shares of Visa (NYSE V) opened at 105.30 on Friday. The firm has a market cap of $240.76 billion, a P/E ratio of 39.16 and a beta of 0.94. The firm’s 50-day moving average is $102.82 and its 200-day moving average is $95.21. Visa has a 52-week low of $75.17 and a 52-week high of $106.84.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Wednesday, August 16th. Visa’s payout ratio is currently 24.54%.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
A number of hedge funds have recently bought and sold shares of V. Janus Henderson Group PLC lifted its holdings in Visa by 159.7% in the second quarter. Janus Henderson Group PLC now owns 9,702,770 shares of the credit-card processor’s stock valued at $909,979,000 after acquiring an additional 5,966,991 shares during the period. Clearbridge Investments LLC lifted its holdings in Visa by 41.4% in the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock valued at $812,776,000 after acquiring an additional 2,677,533 shares during the period. Vanguard Group Inc. lifted its holdings in Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after acquiring an additional 2,628,148 shares during the period. Capital Research Global Investors lifted its holdings in Visa by 20.3% in the second quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock valued at $1,068,613,000 after acquiring an additional 1,919,732 shares during the period. Finally, Harbour Capital Advisors LLC lifted its holdings in Visa by 10,570.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,598,668 shares of the credit-card processor’s stock valued at $17,047,000 after acquiring an additional 1,583,686 shares during the period. 81.74% of the stock is currently owned by institutional investors.
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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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