Seaport Res Ptn Brokers Lower Earnings Estimates for Visa Inc. (NYSE:V)

Visa Inc. (NYSE:V) – Stock analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for shares of Visa in a report released on Tuesday, April 23rd. Seaport Res Ptn analyst J. Cantwell now anticipates that the credit-card processor will post earnings of $9.90 per share for the year, down from their previous estimate of $9.95. The consensus estimate for Visa’s current full-year earnings is $9.89 per share. Seaport Res Ptn also issued estimates for Visa’s Q4 2024 earnings at $2.55 EPS.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 EPS.

A number of other brokerages have also recently weighed in on V. Mizuho restated a “neutral” rating and set a $265.00 price objective on shares of Visa in a research note on Wednesday, March 27th. KeyCorp raised their target price on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Keefe, Bruyette & Woods raised their price objective on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Citigroup raised their target price on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Cowen started coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $302.58.

Visa Price Performance

V opened at $274.58 on Friday. Visa has a 12-month low of $216.14 and a 12-month high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.45 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $279.24 and its 200-day simple moving average is $264.33. The company has a market capitalization of $504.27 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 1.90 and a beta of 0.96.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Alaethes Wealth LLC grew its holdings in shares of Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 37 shares during the last quarter. Jessup Wealth Management Inc raised its stake in Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after purchasing an additional 37 shares during the period. Long Run Wealth Advisors LLC increased its stake in shares of Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after acquiring an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC increased its stake in shares of Visa by 1.8% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after acquiring an additional 38 shares during the last quarter. Finally, Aurora Private Wealth Inc. increased its position in Visa by 3.8% during the first quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock worth $289,000 after buying an additional 38 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,874 shares of company stock valued at $5,506,827. 0.19% of the stock is currently owned by corporate insiders.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.