Visa Inc. (NYSE:V) Lifted to Strong-Buy at BidaskClub
Visa Inc. (NYSE:V) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.
Several other research firms have also issued reports on V. Citigroup Inc. reissued a “buy” rating and set a $115.00 price target (up previously from $100.00) on shares of Visa in a report on Monday. Wells Fargo & Company reissued a “market perform” rating and set a $100.00 price target (up previously from $87.50) on shares of Visa in a report on Saturday. Credit Suisse Group set a $112.00 price target on Visa and gave the company a “buy” rating in a report on Saturday. Barclays PLC reissued an “overweight” rating and set a $114.00 price target (up previously from $111.00) on shares of Visa in a report on Saturday. Finally, Morgan Stanley reissued an “overweight” rating and set a $114.00 price target (up previously from $107.00) on shares of Visa in a report on Saturday. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Visa presently has an average rating of “Buy” and an average target price of $103.87.
Shares of Visa (NYSE:V) traded down 0.04% on Tuesday, reaching $100.33. The company’s stock had a trading volume of 4,440,071 shares. The company has a market cap of $229.40 billion, a price-to-earnings ratio of 37.31 and a beta of 0.93. The stock has a 50-day moving average of $95.54 and a 200 day moving average of $90.40. Visa has a 52-week low of $75.17 and a 52-week high of $100.85.
Visa (NYSE:V) last issued its quarterly earnings data 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. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. Visa’s revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts forecast that Visa will post $3.42 earnings per share for the current year.
Visa declared that its board has approved a share repurchase plan on Thursday, April 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in V. Mercer Capital Advisers Inc. boosted its position in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares in the last quarter. Mascoma Wealth Management LLC acquired a new position in Visa during the second quarter worth approximately $122,000. SpiderRock Advisors LLC boosted its position in Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares in the last quarter. Advantage Investment Management LLC boosted its position in Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares in the last quarter. Finally, Delta Asset Management LLC TN boosted its position in Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after buying an additional 38 shares in the last quarter. 82.02% of the stock is currently owned by hedge funds and other institutional investors.
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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