Visa Inc. (NYSE:V) Forecasted to Earn FY2024 Earnings of $9.95 Per Share

Visa Inc. (NYSE:V) – Investment analysts at Seaport Res Ptn increased their FY2024 earnings estimates for shares of Visa in a report released on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now expects that the credit-card processor will earn $9.95 per share for the year, up from their prior forecast of $9.94. The consensus estimate for Visa’s current full-year earnings is $9.89 per share.

Other analysts have also issued reports about the stock. Citigroup raised their price target on shares of Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Wells Fargo & Company raised their price target on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. KeyCorp raised their price target on shares of Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. TD Cowen started coverage on shares of Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. Finally, Evercore ISI raised their price target on shares of Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $296.87.

Visa Stock Performance

Shares of V opened at $271.34 on Tuesday. The company has a market capitalization of $498.32 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96. Visa has a one year low of $216.14 and a one year high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. The company’s fifty day moving average price is $279.93 and its 200 day moving average price is $262.49.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. The business had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.18 EPS.

Hedge Funds Weigh In On Visa

Several large investors have recently modified their holdings of the stock. Hibernia Wealth Partners LLC bought a new position in Visa during the third quarter worth about $25,000. Altshuler Shaham Ltd bought a new position in Visa during the third quarter worth about $25,000. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter worth about $25,000. Westend Capital Management LLC bought a new position in Visa during the first quarter worth about $25,000. Finally, O Brien Wealth Partners LLC bought a new position in Visa during the fourth quarter worth about $32,000. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at $62,716,662.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares in the company, valued at $62,716,662.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,511 shares of company stock worth $15,131,081. 0.19% of the stock is owned by insiders.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, February 8th. Visa’s payout ratio is 23.94%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.