Visa’s (V) “Buy” Rating Reiterated at Mizuho
A number of other analysts have also recently issued reports on the company. Cowen and Company reissued a buy rating and set a $107.00 target price on shares of Visa in a research note on Thursday. Wells Fargo & Company raised Visa from a market perform rating to an outperform rating and increased their target price for the stock from $107.01 to $120.00 in a research note on Tuesday, October 10th. KeyCorp reissued a buy rating and set a $110.00 target price on shares of Visa in a research note on Wednesday, October 4th. Robert W. Baird reissued an outperform rating and set a $128.00 target price (up from $122.00) on shares of Visa in a research note on Monday, October 2nd. Finally, Buckingham Research began coverage on Visa in a research note on Monday, October 2nd. They set a buy rating and a $129.00 target price for the company. Two research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $110.24.
Shares of Visa (V) opened at 108.66 on Thursday. Visa has a 12-month low of $75.17 and a 12-month high of $109.26. The firm has a market capitalization of $248.44 billion, a PE ratio of 40.41 and a beta of 0.93. The company’s 50 day moving average is $105.24 and its 200 day moving average is $97.64.
Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the prior year, the business earned $0.69 EPS. Visa’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, analysts forecast that Visa will post $3.42 earnings per share for the current year.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of V. Amarillo National Bank increased its position in shares of Visa by 45.1% in the third quarter. Amarillo National Bank now owns 8,398 shares of the credit-card processor’s stock worth $883,000 after purchasing an additional 2,611 shares during the period. Beacon Financial Group increased its position in shares of Visa by 2.8% in the third quarter. Beacon Financial Group now owns 24,877 shares of the credit-card processor’s stock worth $2,618,000 after purchasing an additional 674 shares during the period. Neville Rodie & Shaw Inc. increased its position in shares of Visa by 4.4% in the third quarter. Neville Rodie & Shaw Inc. now owns 116,642 shares of the credit-card processor’s stock worth $12,275,000 after purchasing an additional 4,941 shares during the period. Eqis Capital Management Inc. increased its position in shares of Visa by 4.2% in the third quarter. Eqis Capital Management Inc. now owns 20,131 shares of the credit-card processor’s stock worth $2,119,000 after purchasing an additional 815 shares during the period. Finally, Curbstone Financial Management Corp increased its position in shares of Visa by 88.3% in the third quarter. Curbstone Financial Management Corp now owns 6,100 shares of the credit-card processor’s stock worth $642,000 after purchasing an additional 2,860 shares during the period. Hedge funds and other institutional investors own 81.68% of the company’s stock.
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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