$4.62 Billion in Sales Expected for Visa Inc. (V) This Quarter
Equities research analysts expect Visa Inc. (NYSE:V) to announce sales of $4.62 billion for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Visa’s earnings. The highest sales estimate is $4.67 billion and the lowest is $4.57 billion. Visa reported sales of $4.26 billion during the same quarter last year, which would suggest a positive year over year growth rate of 8.5%. The business is scheduled to announce its next quarterly earnings report 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 fiscal year, analysts forecast that the company will report sales of $19.84 billion per share, with estimates ranging from $19.09 billion to $20.14 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Visa.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The company 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 revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS.
A number of brokerages have commented on V. Wedbush reiterated an “outperform” rating and issued a $100.00 price objective (up previously from $96.00) on shares of Visa in a research report on Tuesday, June 6th. Loop Capital lifted their price objective on Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, July 21st. They noted that the move was a valuation call. Deutsche Bank AG boosted their price objective on Visa from $124.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Cantor Fitzgerald assumed coverage on Visa in a research report on Thursday, September 28th. They set an “overweight” rating and a $120.00 price objective on the stock. Finally, Instinet upped their target price on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Three investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. Visa currently has a consensus rating of “Buy” and an average price target of $108.76.
In other news, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s 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 sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Several large investors have recently made changes to their positions in V. Vantage Financial Partners Ltd. Inc. acquired a new position in Visa during the second quarter valued at approximately $958,000. Mercer Capital Advisers Inc. increased its stake in 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 purchasing an additional 25 shares in the last quarter. Motco increased its stake in 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 purchasing an additional 236 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new stake in Visa in the second quarter worth $123,000. Finally, BDO Wealth Advisors LLC acquired a new stake in Visa in the second quarter worth $115,000. Institutional investors and hedge funds own 81.69% of the company’s stock.
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Shares of Visa (NYSE V) opened at 105.59 on Wednesday. The stock has a 50 day moving average of $104.22 and a 200-day moving average of $96.64. Visa has a 52 week low of $75.17 and a 52 week high of $106.84. The firm has a market cap of $241.42 billion, a price-to-earnings ratio of 39.27 and a beta of 0.94.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders 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 yield of 0.63%. The ex-dividend date was Wednesday, August 16th. Visa’s dividend payout ratio is presently 24.54%.
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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