KeyCorp Equities Analysts Lift Earnings Estimates for Visa Inc. (V)
Visa Inc. (NYSE:V) – Investment analysts at KeyCorp increased their FY2017 EPS estimates for shares of Visa in a research note issued on Thursday. KeyCorp analyst J. Beck now expects that the credit-card processor will post earnings of $3.42 per share for the year, up from their prior forecast of $3.31. KeyCorp also issued estimates for Visa’s Q4 2017 earnings at $0.84 EPS, Q1 2018 earnings at $0.99 EPS, Q2 2018 earnings at $0.94 EPS, Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $1.05 EPS and FY2018 earnings at $3.97 EPS.
V has been the subject of several other reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $100.00 target price on shares of Visa in a report on Thursday, May 25th. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $95.32 target price for the company in a report on Thursday, April 27th. Deutsche Bank AG upped their target price on Visa from $124.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 10th. Nomura upped their target price on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Credit Suisse Group set a $112.00 target price on Visa and gave the company a “buy” rating in a report on Saturday. Five analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $104.35.
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Visa (NYSE V) traded up 0.15% during mid-day trading on Monday, hitting $100.14. The stock had a trading volume of 2,260,123 shares. Visa has a 1-year low of $75.17 and a 1-year high of $100.89. The firm’s 50-day moving average price is $95.54 and its 200-day moving average price is $90.40. The stock has a market cap of $228.96 billion, a PE ratio of 37.24 and a beta of 0.93.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $4.36 billion. During the same period last year, the firm posted $0.69 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.66%. Visa’s dividend payout ratio is presently 24.54%.
Visa declared that its board has approved a share buyback plan 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 reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in V. Cpcm LLC purchased a new position in Visa during the fourth quarter worth approximately $2,722,000. Folger Hill Asset Management LP purchased a new position in Visa during the fourth quarter worth approximately $474,000. Chilton Capital Management LLC boosted its position in Visa by 8.5% in the fourth quarter. Chilton Capital Management LLC now owns 135,794 shares of the credit-card processor’s stock worth $10,595,000 after buying an additional 10,613 shares in the last quarter. InterOcean Capital LLC boosted its position in Visa by 5.9% in the fourth quarter. InterOcean Capital LLC now owns 2,889 shares of the credit-card processor’s stock worth $225,000 after buying an additional 162 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new position in Visa during the fourth quarter worth approximately $3,189,000. 82.02% 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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