Visa Inc. (V) Stock Rating Reaffirmed by Royal Bank Of Canada
Visa Inc. (NYSE:V)‘s stock had its “buy” rating restated by investment analysts at Royal Bank Of Canada in a research report issued on Friday. They currently have a $124.00 price objective on the credit-card processor’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 17.47% from the stock’s current price.
V has been the subject of several other reports. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective for the company in a report on Tuesday, June 27th. Instinet increased their price objective on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Wells Fargo & Company reiterated a “market perform” rating and set a $100.00 price objective (up from $87.50) on shares of Visa in a report on Saturday, July 22nd. Citigroup Inc. reiterated a “buy” rating and set a $115.00 price objective (up from $100.00) on shares of Visa in a report on Monday, July 24th. Finally, Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $106.42.
Visa (NYSE:V) traded up 0.24% during trading on Friday, reaching $105.56. The company had a trading volume of 4,959,424 shares. The company has a 50-day moving average price of $103.15 and a 200 day moving average price of $95.55. The stock has a market cap of $241.36 billion, a PE ratio of 39.26 and a beta of 0.94. Visa has a 52-week low of $75.17 and a 52-week high of $106.84.
Visa (NYSE:V) last issued its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. Visa’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. On average, analysts anticipate that Visa will post $3.43 earnings per share for the current year.
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In other Visa news, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 17,360 shares in the company, valued at $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mercer Capital Advisers Inc. raised 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 acquiring an additional 25 shares during the last quarter. Motco raised its stake in shares of Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after acquiring an additional 236 shares during the last quarter. BDO Wealth Advisors LLC bought a new position in shares of Visa in the second quarter valued at approximately $115,000. Mascoma Wealth Management LLC bought a new position in shares of Visa in the second quarter valued at approximately $122,000. Finally, MPS Loria Financial Planners LLC bought a new position in shares of Visa in the second quarter valued at approximately $123,000. 81.68% of the stock is currently owned by institutional investors.
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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