Visa Inc. (NYSE:V) had its price target raised by Nomura from $105.00 to $120.00 in a report published on Friday. Nomura currently has a buy rating on the credit-card processor’s stock.
Several other brokerages have also commented on V. Vetr lowered shares of Visa from a buy rating to a hold rating and set a $100.12 price target on the stock. in a research note on Monday, July 17th. Sanford C. Bernstein restated an outperform rating and set a $110.00 price target on shares of Visa in a research note on Thursday, July 13th. Loop Capital increased their price target on shares of Visa from $101.00 to $111.00 and gave the stock a buy rating in a research note on Friday. They noted that the move was a valuation call. Jefferies Group LLC set a $96.00 price target on shares of Visa and gave the stock a buy rating in a research note on Saturday, March 25th. Finally, Oppenheimer Holdings, Inc. increased their price target on shares of Visa from $100.00 to $106.00 in a research note on Tuesday, July 18th. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $103.37.
Visa (NYSE V) opened at 99.60 on Friday. The firm has a 50 day moving average of $95.30 and a 200-day moving average of $90.04. The firm has a market cap of $227.73 billion, a price-to-earnings ratio of 37.04 and a beta of 0.93. Visa has a one year low of $75.17 and a one year high of $100.49.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 31.04%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. Equities research analysts forecast that Visa will post $3.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Wednesday, August 16th. Visa’s dividend payout ratio (DPR) is currently 24.54%.
Visa announced that its Board of Directors has initiated a share repurchase program on Thursday, April 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the credit-card processor to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
In related news, Vice Chairman Ellen Richey sold 31,260 shares of the stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total transaction of $2,874,044.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.
Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in Visa by 441.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,594,500 shares of the credit-card processor’s stock valued at $202,423,000 after buying an additional 2,115,700 shares during the last quarter. Oribel Capital Management LP bought a new stake in Visa during the fourth quarter valued at $1,171,000. Ally Financial Inc. bought a new stake in Visa during the fourth quarter valued at $4,135,000. Davis Capital Partners LLC bought a new stake in Visa during the fourth quarter valued at $31,208,000. Finally, Texas Yale Capital Corp. boosted its stake in Visa by 137.1% in the fourth quarter. Texas Yale Capital Corp. now owns 18,879 shares of the credit-card processor’s stock valued at $1,473,000 after buying an additional 10,915 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.
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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