Visa Inc. (V) to Post FY2017 Earnings of $3.42 Per Share, Cantor Fitzgerald Forecasts
Visa Inc. (NYSE:V) – Equities researchers at Cantor Fitzgerald issued their FY2017 EPS estimates for shares of Visa in a research report issued on Monday. Cantor Fitzgerald analyst J. Foresi expects that the credit-card processor will post earnings of $3.42 per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $120.00 target price on the stock. Cantor Fitzgerald also issued estimates for Visa’s FY2018 earnings at $3.99 EPS.
Visa (NYSE:V) last released its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The company 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%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. ILLEGAL ACTIVITY WARNING: “Visa Inc. (V) to Post FY2017 Earnings of $3.42 Per Share, Cantor Fitzgerald Forecasts” was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/10/04/visa-inc-v-to-post-fy2017-earnings-of-3-42-per-share-cantor-fitzgerald-forecasts.html.
A number of other analysts have also recently weighed in on V. UBS AG reaffirmed an “overweight” rating on shares of Visa in a research note on Thursday, August 24th. Deutsche Bank AG increased their price target on Visa from $124.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Nomura increased their price target on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 21st. KeyCorp reissued a “buy” rating and set a $110.00 price objective on shares of Visa in a report on Friday, August 25th. Finally, Credit Suisse Group set a $112.00 price objective on Visa and gave the company a “buy” rating in a report on Saturday, July 22nd. Three research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $108.76.
Visa (NYSE:V) opened at 105.59 on Wednesday. Visa has a 12-month low of $75.17 and a 12-month high of $106.84. The company has a market cap of $241.42 billion, a PE ratio of 39.27 and a beta of 0.93. The company has a 50-day moving average price of $104.22 and a 200 day moving average price of $96.64.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were given a $0.165 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $0.66 annualized dividend and a yield of 0.63%. Visa’s dividend payout ratio is currently 24.54%.
In other news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were 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 Securities & Exchange Commission, which is available through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the transaction, 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. 0.14% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of V. Vanguard Group Inc. increased its stake in shares of Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after purchasing an additional 2,628,148 shares in the last quarter. BlackRock Inc. raised its position in shares of Visa by 1.3% in the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after purchasing an additional 1,440,034 shares during the period. State Street Corp raised its position in shares of Visa by 0.9% in the first quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after purchasing an additional 722,878 shares during the period. Bank of New York Mellon Corp raised its position in shares of Visa by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after purchasing an additional 73,926 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Visa by 3.0% during the 2nd quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock valued at $1,464,483,000 after buying an additional 452,183 shares in the last quarter. Institutional investors own 81.69% 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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