Visa Inc. (V) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Visa Inc. (NYSE:V) from a hold rating to a buy rating in a research report report published on Tuesday. They currently have $93.00 price target on the credit-card processor’s stock.
According to Zacks, “Visa’s strategic acquisitions and alliances, technology upgrades, effective marketing efforts and strong balance sheet bode well for long-term growth. The acquisition of Visa Europe is expected to open vast business opportunity for the company in the region and provide it greater scale and diversified business. The U.S. consumer growth remains strong and is likely to continue boosting Visa’s revenues in the future. The recent agreement with Paypal is also slated to increase transaction volume for Visa. In three of the last four quarters, the company has posted positive earning surprise ith an average beat of 1.87%. However, weaknesses in China, Brazil and other oil-based economies, a stronger U.S. dollar and global economic uncertainty are expected to dampen cross-border revenues. Litigation overhang and high client incentives are other headwinds.”
Other equities analysts have also recently issued research reports about the company. Pacific Crest reissued a buy rating on shares of Visa in a report on Friday, July 22nd. Nomura reissued a buy rating and issued a $91.00 price objective on shares of Visa in a report on Monday, July 25th. Oppenheimer Holdings Inc. boosted their price objective on Visa from $85.00 to $90.00 and gave the company a buy rating in a report on Friday, June 10th. Piper Jaffray Cos. reissued an overweight rating and issued a $94.00 price objective on shares of Visa in a report on Friday, August 5th. Finally, Sanford C. Bernstein reissued a buy rating on shares of Visa in a report on Wednesday, June 15th. Four equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. Visa presently has a consensus rating of Buy and a consensus target price of $88.69.
Shares of Visa (NYSE:V) opened at 82.96 on Tuesday. The company has a 50-day moving average price of $81.81 and a 200-day moving average price of $78.97. The company has a market cap of $195.78 billion, a P/E ratio of 35.26 and a beta of 0.95. Visa has a 52-week low of $66.12 and a 52-week high of $83.79.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 21st. The credit-card processor reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. Visa had a return on equity of 22.36% and a net margin of 38.72%. The company earned $3.63 billion during the quarter, compared to analysts’ expectations of $3.67 billion. On average, equities analysts predict that Visa will post $2.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, August 17th. Visa’s payout ratio is 24.35%.
Several institutional investors have recently modified their holdings of the company. Iowa State Bank purchased a new position in shares of Visa during the second quarter valued at about $111,000. West Oak Capital LLC increased its stake in shares of Visa by 245.5% in the second quarter. West Oak Capital LLC now owns 1,534 shares of the credit-card processor’s stock valued at $114,000 after buying an additional 1,090 shares during the period. Hanson McClain Inc. increased its stake in shares of Visa by 6.1% in the second quarter. Hanson McClain Inc. now owns 1,728 shares of the credit-card processor’s stock valued at $128,000 after buying an additional 100 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Visa during the second quarter valued at $139,000. Finally, Feltz Wealth PLAN Inc. acquired a new stake in shares of Visa during the second quarter valued at $148,000. 80.08% of the stock is currently owned by institutional investors.
Visa Company Profile
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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