Visa Inc. (NYSE:V) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Monday.
Several other research firms also recently issued reports on V. Vetr downgraded Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective on the stock. in a report on Monday, June 5th. CIBC lifted their price objective on Visa from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a report on Thursday. Credit Suisse Group set a $112.00 price objective on Visa and gave the stock a “buy” rating in a report on Saturday, July 22nd. Finally, Sandler O’Neill restated a “hold” rating on shares of Visa in a report on Wednesday, June 21st. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $104.35.
Visa (NYSE V) traded up 0.41% during mid-day trading on Monday, hitting $99.56. 7,576,614 shares of the company were exchanged. Visa has a 12 month low of $75.17 and a 12 month high of $101.18. The firm has a 50 day moving average price of $96.11 and a 200 day moving average price of $91.06. The stock has a market cap of $227.64 billion, a price-to-earnings ratio of 37.02 and a beta of 0.93.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the 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 return on equity of 30.95% and a net margin of 36.53%. Visa’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. Analysts anticipate that Visa will post $3.43 EPS for the current fiscal year.
Visa declared that its Board of Directors has initiated a share buyback program on Thursday, April 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the credit-card processor to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
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In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake 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 buying an additional 722,878 shares during the period. Bank of New York Mellon Corp raised its stake 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 buying an additional 73,926 shares during the period. Norges Bank purchased a new stake in shares of Visa during the fourth quarter valued at $1,335,803,000. Fisher Asset Management LLC raised its stake in shares of Visa by 3.0% in the second 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 during the period. Finally, Loomis Sayles & Co. L P raised its stake in shares of Visa by 3.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 14,002,819 shares of the credit-card processor’s stock valued at $1,092,500,000 after buying an additional 531,327 shares during the period. Institutional investors and hedge funds own 82.02% of the company’s stock.
About Visa
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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