Wall Street brokerages expect Visa Inc (NYSE:V) to post $6.08 billion in sales for the current quarter, according to Zacks Investment Research. Twelve analysts have provided estimates for Visa’s earnings, with estimates ranging from $6.01 billion to $6.15 billion. Visa posted sales of $5.43 billion in the same quarter last year, which would indicate a positive year over year growth rate of 12%. The company is expected to report its next earnings report on Wednesday, October 23rd.
According to Zacks, analysts expect that Visa will report full year sales of $22.92 billion for the current year, with estimates ranging from $22.85 billion to $22.99 billion. For the next financial year, analysts expect that the firm will report sales of $25.47 billion, with estimates ranging from $25.05 billion to $26.14 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Visa.
Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the firm earned $1.20 EPS. Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year.
A number of equities research analysts recently issued reports on the company. SunTrust Banks lifted their target price on Visa to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Robert W. Baird set a $196.00 target price on Visa and gave the company a “buy” rating in a research report on Friday, July 19th. Deutsche Bank lifted their target price on Visa from $177.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Nomura lifted their target price on Visa from $178.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup lifted their target price on Visa from $185.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Visa has a consensus rating of “Buy” and a consensus price target of $196.57.
In related news, insider Vasant M. Prabhu sold 25,051 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total value of $4,537,738.14. Following the completion of the sale, the insider now directly owns 62,223 shares in the company, valued at approximately $11,271,074.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lloyd Carney sold 3,500 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $182.73, for a total value of $639,555.00. Following the completion of the sale, the director now owns 3,452 shares of the company’s stock, valued at $630,783.96. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in V. Krane Funds Advisors LLC bought a new stake in shares of Visa during the 2nd quarter valued at $26,000. Lowe Wealth Advisors LLC raised its holdings in shares of Visa by 114.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after buying an additional 86 shares in the last quarter. Personal Wealth Partners acquired a new position in shares of Visa during the 2nd quarter worth $30,000. Mcmillion Capital Management Inc. acquired a new position in shares of Visa during the 2nd quarter worth $38,000. Finally, Hexavest Inc. acquired a new position in shares of Visa during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 81.20% of the company’s stock.
Visa stock traded down $0.71 during midday trading on Tuesday, reaching $177.27. The stock had a trading volume of 5,704,819 shares, compared to its average volume of 6,116,574. The firm’s fifty day simple moving average is $179.15 and its 200-day simple moving average is $167.24. Visa has a 1-year low of $121.60 and a 1-year high of $187.05. The stock has a market capitalization of $353.10 billion, a P/E ratio of 38.45, a price-to-earnings-growth ratio of 2.00 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 0.56%. Visa’s dividend payout ratio (DPR) is presently 21.69%.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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