Visa (NYSE:V) Downgraded to “Hold” at Zacks Investment Research

Visa (NYSE:V) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, December 26th.

According to Zacks, “Shares of Visa have outperformed the industry, year to date. Numerous strategic acquisitions and alliances, technology upgrades and effective marketing have paved the way for the company's long-term growth that have led to consistent revenue growth over the past several years. Visa is well poised to gain from the growing electronic payment processing and strong international business. A solid balance sheet ensures effective capital deployment. Strong earnings guidance instills our confidence in the company. The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 0.7% upward over the last 60 days.”

A number of other research firms also recently issued reports on V. Cantor Fitzgerald restated a “buy” rating and issued a $120.00 price target on shares of Visa in a research note on Wednesday, October 25th. Jefferies Group raised their price target on Visa from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, October 30th. Wells Fargo & Co raised Visa from a “market perform” rating to an “outperform” rating and raised their price target for the company from $107.01 to $120.00 in a report on Tuesday, October 10th. Barclays raised their price target on Visa from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Finally, Vetr raised Visa from a “hold” rating to a “buy” rating and set a $119.56 target price on the stock in a report on Thursday, December 14th. Four research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $122.03.

Visa (NYSE V) opened at $120.09 on Tuesday. Visa has a 52-week low of $80.51 and a 52-week high of $120.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $272,150.00, a P/E ratio of 42.89, a PEG ratio of 1.75 and a beta of 0.99.

Visa (NYSE:V) last posted its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.05. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.63 billion. Visa had a return on equity of 31.80% and a net margin of 36.49%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. research analysts expect that Visa will post 4.07 earnings per share for the current fiscal year.

In related news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $112.09, for a total value of $240,545.14. Following the transaction, the senior vice president now directly owns 687 shares of the company’s stock, valued at approximately $77,005.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the transaction, the executive vice president now directly owns 76,202 shares in the company, valued at $8,661,119.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,068 shares of company stock worth $6,597,262. Insiders own 0.14% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after purchasing an additional 2,628,148 shares during the last quarter. BlackRock Inc. boosted its holdings in Visa by 1.3% in the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after purchasing an additional 1,440,034 shares during the last quarter. Jennison Associates LLC boosted its holdings in Visa by 1.0% in the third quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock valued at $2,239,872,000 after purchasing an additional 209,764 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Visa by 9.3% in the third quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock valued at $2,019,358,000 after purchasing an additional 1,624,700 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Visa by 2.3% in the third quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock valued at $1,680,838,000 after purchasing an additional 355,320 shares during the last quarter. 81.50% of the stock is currently owned by hedge funds and other institutional investors.

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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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