Visa Inc. (V) Stock Rating Reaffirmed by Credit Suisse Group
Credit Suisse Group reiterated their outperform rating on shares of Visa Inc. (NYSE:V) in a research report sent to investors on Saturday morning. Credit Suisse Group currently has a $112.00 price objective on the credit-card processor’s stock, up from their previous price objective of $105.00.
Several other analysts also recently commented on the stock. Barclays PLC reissued an overweight rating and issued a $114.00 target price (up from $111.00) on shares of Visa in a research report on Saturday. Morgan Stanley reissued an overweight rating and issued a $114.00 target price (up from $107.00) on shares of Visa in a research report on Saturday. Cowen and Company reissued an outperform rating and issued a $107.00 target price (up from $105.00) on shares of Visa in a research report on Saturday. Bank of America Corporation boosted their target price on shares of Visa from $103.00 to $111.00 and gave the stock a buy rating in a research report on Friday. Finally, Nomura boosted their target price on shares of Visa from $105.00 to $120.00 and gave the stock a buy rating in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $103.37.
Shares of Visa (NYSE V) traded up 1.52% during trading on Friday, hitting $99.60. 17,400,234 shares of the stock were exchanged. Visa has a 12-month low of $75.17 and a 12-month high of $100.49. The stock has a market cap of $227.73 billion, a price-to-earnings ratio of 37.04 and a beta of 0.93. The stock’s 50 day moving average is $95.30 and its 200-day moving average is $90.04.
Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.69 earnings per share. Equities research analysts anticipate that Visa will post $3.37 EPS for the current year.
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Visa announced that its board has authorized a stock buyback program on Thursday, April 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Wednesday, August 16th. Visa’s payout ratio is 24.54%.
In other news, Vice Chairman Ellen Richey sold 31,260 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total value of $2,874,044.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Visa during the fourth quarter worth approximately $1,335,803,000. Viking Global Investors LP raised its stake in shares of Visa by 739.1% in the fourth quarter. Viking Global Investors LP now owns 4,846,485 shares of the credit-card processor’s stock worth $378,123,000 after buying an additional 4,268,933 shares in the last quarter. Lone Pine Capital LLC raised its stake in shares of Visa by 180.3% in the fourth quarter. Lone Pine Capital LLC now owns 6,551,477 shares of the credit-card processor’s stock worth $511,146,000 after buying an additional 4,213,802 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Visa by 41.4% in the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock worth $812,776,000 after buying an additional 2,677,533 shares in the last quarter. Finally, Glenview Capital Management LLC bought a new stake in shares of Visa during the fourth quarter worth approximately $146,661,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.
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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