Visa Inc (V) Earns Outperform Rating from Cowen and Company
Cowen and Company reissued their outperform rating on shares of Visa Inc (NYSE:V) in a research report released on Sunday. The firm currently has a $105.00 price objective on the credit-card processor’s stock, up from their prior price objective of $100.00.
A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Visa from $97.00 to $98.00 and gave the company an outperform rating in a research report on Friday. Piper Jaffray Companies reiterated a neutral rating and set a $45.00 target price on shares of Visa in a research report on Friday, April 14th. Credit Suisse Group AG reiterated a hold rating on shares of Visa in a research report on Wednesday, March 29th. Jefferies Group LLC set a $96.00 target price on shares of Visa and gave the company a buy rating in a research report on Saturday, March 25th. Finally, Vetr upgraded shares of Visa from a hold rating to a buy rating and set a $93.85 target price on the stock in a research report on Monday, March 20th. Two equities 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 company has a consensus rating of Buy and an average target price of $93.79.
Shares of Visa (NYSE:V) remained flat at $91.15 during trading on Friday. 19,442,584 shares of the company were exchanged. Visa has a one year low of $73.25 and a one year high of $92.80. The company has a market cap of $213.29 billion, a price-to-earnings ratio of 44.27 and a beta of 1.00. The firm has a 50-day moving average price of $89.29 and a 200 day moving average price of $83.82. Visa also saw some unusual options trading activity on Thursday. Stock traders purchased 44,268 put options on the company. This represents an increase of approximately 625% compared to the typical daily volume of 6,107 put options.
Visa (NYSE:V) last released its earnings results on Thursday, April 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.07. Visa had a net margin of 38.30% and a return on equity of 26.48%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company earned $0.68 EPS. Visa’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, analysts expect that Visa will post $3.32 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Friday, May 19th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, May 17th. This represents a $0.66 annualized dividend and a yield of 0.72%. Visa’s payout ratio is currently 26.09%.
In related news, SVP James H. Hoffmeister sold 11,139 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $85.95, for a total transaction of $957,397.05. Following the completion of the transaction, the senior vice president now owns 6,390 shares in the company, valued at $549,220.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP William M. Sheedy sold 125,372 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $85.74, for a total transaction of $10,749,395.28. Following the transaction, the executive vice president now owns 365,769 shares of the company’s stock, valued at approximately $31,361,034.06. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in V. Pekin Singer Strauss Asset Management IL acquired a new stake in Visa during the fourth quarter valued at approximately $1,104,000. Klingenstein Fields & Co. LLC increased its stake in Visa by 143.2% in the third quarter. Klingenstein Fields & Co. LLC now owns 13,776 shares of the credit-card processor’s stock valued at $1,139,000 after buying an additional 8,111 shares during the period. Aviva PLC increased its stake in Visa by 22.7% in the fourth quarter. Aviva PLC now owns 1,479,984 shares of the credit-card processor’s stock valued at $115,690,000 after buying an additional 273,449 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Visa by 4.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 538,495 shares of the credit-card processor’s stock valued at $44,534,000 after buying an additional 21,149 shares during the period. Finally, Chicago Equity Partners LLC increased its stake in Visa by 2.5% in the third quarter. Chicago Equity Partners LLC now owns 192,900 shares of the credit-card processor’s stock valued at $15,953,000 after buying an additional 4,660 shares during the period. 80.14% of the stock is currently owned by institutional investors and hedge funds.
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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